Under a renewable energy proposal from Northern Indiana Public Service Company (NIPSCO), Indiana consumers would face a 12 percent electricity rate hike, which will cost the average household more than $100 per year in additional electricity costs.
NIPSCO is justifying its renewable power rate hike by asserting renewable power saves consumers money, but there’s absolutely no truth to these claims.
Indiana ranks seventh in the nation in coal production and generates 68 percent of its power from coal. Together, affordable coal and natural gas generate 95 percent of Indiana’s electricity. As a result, Indiana electricity prices are substantially lower than the national average. National electricity prices are 10 percent higher than in Indiana.
Unfortunately, NIPSCO wants to put an end to these low prices. It is proposing to shut down two perfectly functioning coal power plants that provide much of NIPSCO’s low-cost electricity. In their place, NIPSCO wants to build expensive wind and solar power equipment and battery storage for when the wind isn’t blowing or the Sun isn’t shining. NIPSCO claims transitioning from affordable coal power to wind and solar will save consumers money, but at the same time that it makes these unfounded claims,
NIPSCO is proposing to hike electricity rates 12 percent to pay for the renewable energy “savings.”
NIPSCO is a government-protected monopoly utility, with Indiana state government guaranteeing NIPSCO a profit of approximately 10 percent for every dollar it spends. .Battery storage is a myth.
Much more at the link.
What about that statement that Indiana electricity prices are substantially lower than the national average? See this link. Rates are lower but certainly not what I would call "substantially lower." Compare with Wyoming.
Considering that these coal plants have long been paid for, and considering how inexpensive coal is, it is quite surprising to me that Indiana's residential electricity is only 8 percent lower than the national average.
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