A group of seven conservative and free market New England think tanks warns in a newly released report that green energy policies, combined with public benefit charges in Connecticut, could lead to increased electricity costs and rolling blackouts in the region.
The report prepared by Always On Energy Research describes renewable energy mandates and climate goals in most New England states as failed policy and estimates that compliance will cost the six-state region’s residents more than $815 billion through 2050.
The Yankee Institute for Public Policy in Connecticut was one of the groups that commissioned the report released last month.
“Connecticut already endures one of the highest electricity rates in the nation,” said Andy Fowler, communications director for the Yankee Institute. “Just this past summer, our state’s residents and businesses experienced a large spike in rates due to an increase in the public benefits charge, which passes along to consumers the cost of government mandates imposed on power companies for a variety of state energy policies including green renewable energy.”
Environmental advocates pushed back on the report. The Acadia Center, a climate and clean energy advocacy group based in the Northeast, said the report is inaccurate, misleading, and presents a deeply flawed analysis and distorted view of the region’s future energy outlook.
The study makes five policy recommendations:
Reconsider emission reductions goals in the context of affordability and reliability of electricity.
Lift state moratoriums on building new nuclear power plants.
Allow nuclear energy to compete against renewable energy technologies to meet state mandates to reduce greenhouse gas emissions.
Detail the cost of state mandates for procurement contracts for certain types of energy.
Require state pension funds publicly report investment fees to gauge the costs and benefits environmental, social and governance investment policies.