This past winter was a long, cold, and costly one characterized by unaffordable electric rate increases.
As ISO New England reported in March, “colder weather, higher demand, and spiking natural gas prices converged in January to push New England wholesale electricity prices to their highest levels since February 2014.”
Maine needs real, sustainable solutions for our energy future.
I believe that solution is clean, renewable hydropower. And the only place we can access the volume we need is from Hydro-Québec.
Even during extreme weather events over this past winter, HQ’s power generation was 100% renewable. Its customers saw a mere 1% increase in costs, whereas Mainers face unsustainable cost increases.
Hydro-Québec’s New England Clean Energy Connect has the potential to help Maine ratepayers in two meaningful ways. First, it would deliver $140 million in direct electric rate relief. Second, as the Maine Public Utilities Commission has noted, it would produce savings of between $14-$44 million per year through wholesale price reductions.
“The beneficial effects of that energy will be realized directly by Maine consumers through lower electricity supply prices,” the PUC wrote when it granted NECEC its Certificate of Public Convenience and Necessity and Approving Stipulation two years ago.
Maine has a path forward to a clean, affordable energy future. Hydropower is the answer.
Rebekah Lynch, Lisbon Falls
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