Letter: As Mayflower plan moves ahead, wind power prices skyrocket

Posted 11/30/22

Thanks very much for your informative report published on Nov. 23, 2022 .  Information on this subject is typically only released in a favorable fashion by the regulators. I am quite sure …

This item is available in full to subscribers.

Please log in to continue

Log in

Register to post events


If you'd like to post an event to our calendar, you can create a free account by clicking here.

Note that free accounts do not have access to our subscriber-only content.

Day pass subscribers

Are you a day pass subscriber who needs to log in? Click here to continue.


Letter: As Mayflower plan moves ahead, wind power prices skyrocket

Posted

Thanks very much for your informative report published on Nov. 23, 2022.  Information on this subject is typically only released in a favorable fashion by the regulators. I am quite sure that this project has increased in cost very substantially.

1. The three largest manufacturers of wind turbines in the world are Siemens Gamesa, Vestas, and GE. All of them have reported losses of $1 billion or more this year as cost have skyrocketed with inflation. They are also laying off employees to cut cost while anticipating a drop in demand.

2. Wind energy contracts for electricity in the USA increased by 37 percent in the third quarter. You can bet Mayflower Wind with much higher construction cost wants a substantial rate increase.

3. Shell is a 50 percent investor in Mayflower Wind and has like all other companies been faced with substantially higher capital cost for any project and will thus require higher returns from a project.  That also means higher rates need to be paid for wind electricity.

4. When all costs are included, wind power is easily double the cost of natural gas electric power generation. One needs to also include the fact that wind turbines only last about 20 to 22 years and must be replaced. The projected cost of future power usually excludes that replacement cost,  meaning the rate payers are left holding the bag. Wind turbines must be at least 40 to 45 percent of the project cost so for those of you who are alive 20 years later, brace yourself.

5.  I have never seen a total projected cost for this project much less an updated one after this huge inflation surge.

Thanks again for your work and please continue to keep us informed.

Phil Bartlett

Westport

2024 by East Bay Media Group

Barrington · Bristol · East Providence · Little Compton · Portsmouth · Tiverton · Warren · Westport
Meet our staff
Jim McGaw

A lifelong Portsmouth resident, Jim graduated from Portsmouth High School in 1982 and earned a journalism degree from the University of Rhode Island in 1986. He's worked two different stints at East Bay Newspapers, for a total of 18 years with the company so far. When not running all over town bringing you the news from Portsmouth, Jim listens to lots and lots and lots of music, watches obscure silent films from the '20s and usually has three books going at once. He also loves to cook crazy New Orleans dishes for his wife of 25 years, Michelle, and their two sons, Jake and Max.