Tattozoo t1_ja42q4d wrote
Is that why electric bills have skyrocketed?
largeb789 t1_ja444ro wrote
That's due to the cost of natural gas and oil going up in response to the war in Ukraine. Electricity from natural gas is up to 45%, and the huge spike in natural gas prices over the last year is responsible for most of the price increase.
Solar is likely keeping the price down since the utilities need to bring the more expensive oil fired plants less often on really hot summer days.
reddittheguy t1_ja48llu wrote
It's been interesting watching people try to spin the price increase as a green energy problem all the while conveniently ignoring the fact that New England generates so much electricity off Natural gas and that the price increase coincided with the atrocity in Ukraine which has directly impacted Natural gas prices.
Dramatic_Mechanic815 t1_ja4kgex wrote
Natural gas prices are massively off peaks from 2022. We’re at 2020/2021 lows now. Bigger issue at play here than commodity prices, such as how expensive it is to transport natural gas here to New England. Yet, politicians signed off on allowing natural gas plants without infrastructure to affordably transport it because NIMBYers are killing this state. https://www.eia.gov/dnav/ng/hist/rngwhhdW.htm
Happy_Confection90 t1_ja5msx9 wrote
And, so far as I've heard, still no serious efforts towards revamping the Jones Act which costs New England a fortune in natural gas transportation costs.
ShortUSA t1_ja7n99n wrote
NE NG has been much more adversely impacted by NIMBY efforts that have successfully prevented more pipelines. You don't get NG from PA, etc to NE on ships.
TurretLauncher OP t1_ja5ppbc wrote
Why the Jones Act is still needed
By Sen. Roger Wicker, Sen. Maria Cantwell, Rep. Peter DeFazio and Rep. Sam Graves
The Jones Act requires that all vessels carrying goods between two U.S. points be American-built, -owned, -crewed and -flagged. This policy provides stability to the U.S. maritime industry and helps to sustain 650,000 American jobs, resulting in $150 billion in economic benefits each year. Most importantly, the Jones Act advances our national security by helping maintain a vibrant domestic shipbuilding industry and maritime workforce. Our shipbuilders supply the military with warships, and U.S. mariners play a key role in transporting military personnel and equipment overseas in times of crisis.
To imagine life without this law, consider the risks we would face if foreign-owned companies were allowed to conduct our domestic trade during this pandemic. Foreign companies would be able to influence the flow of domestic goods and resources that are keeping our economy afloat. Thousands of now-secure American jobs throughout our shipbuilding and maritime workforces would be threatened, and foreign governments could gain even more undue leverage over our economy.
The Jones Act is also an important asset to our military. U.S.-crewed vessels around the world expand our military’s horizon by serving as the eyes and ears of our nation, and U.S. mariners, shipyards and commercial vessels play a vital role in keeping our military well-supplied. Losing these assets and having to rely on foreign competitors to move our military would hurt our ability to project power during a time of war or national emergency.
These national security concerns are why the Jones Act continues to enjoy broad support in Congress. Indeed, military leaders have consistently described the Jones Act as crucial to national security. As the bipartisan leaders of the House and Senate committees with jurisdiction over maritime matters, we are committed to preserving the Jones Act.
procrastinatorsuprem t1_ja4cvyz wrote
Unitil and other energy producers are also making record profits.
largeb789 t1_ja7rpr5 wrote
Yes, they got the rate increases pushed through at the peak energy costs and now that gas prices are down those rates are locked in.
cwalton505 t1_ja48vnw wrote
Oil fired plants are basically non existent. Gas turbines with a HRSG sure, but not oil plants.
realbusabusa t1_ja4bujc wrote
Essentially the same thing though
cwalton505 t1_ja4hwgb wrote
Kind of. But not really. The differentiation is important when making statements
largeb789 t1_ja7r7es wrote
https://www.iso-ne.com/about/key-stats/resource-mix/ lists oil at 2%, and coal at .3%
Selfless- t1_ja4fa78 wrote
New England generated as much as 24% of its electricity in our fuel oil plants last year.
cwalton505 t1_ja4hqc8 wrote
Love to see that source.
Seabrook nuke plant at 1250 MWhr is by FAR the largest producer in Northern New England. I know of 0 generators running off oil in Maine or NH. I don't think you understand the inefficiency of oil fired plants. I went to school for power engineering and have 15 years experience in the field.
And here's mass, our biggest ISONE supplying state
https://en.m.wikipedia.org/wiki/List_of_power_stations_in_Massachusetts
note the 0.4% petroleum
SkiingAway t1_ja4ye6j wrote
(Not the previous poster.)
When we are short on Natural Gas we switch over to oil-fired generation. New England does not have the pipeline capacity to meet demand in major cold snaps.
Traditionally, this has been partially met with LNG imports into Boston (and to a lesser extent, New Brunswick). These are less available and while never cheap, are drastically more expensive now.
Last winter and this winter we have had brief periods where the grid is running on 25-40% oil.
This is not the same as saying that total yearly generation is that much oil, we're talking hours or days, so it's a small % of overall generation....although a slightly larger share of costs, since it's a very expensive power source.
realbusabusa t1_ja53o80 wrote
And significantly more carbon, all for lack of pipeline capacity. It is absurd.
cwalton505 t1_ja58ooh wrote
Yeah and take a look at the previous posters % claim. And I'd still be surprised if we had GTEs powering 25% oil at any single instance
SkiingAway t1_ja657uz wrote
I mean, that's very easy to prove correct, since it's happened recently.
We hit 40% oil-fired generation on Christmas Eve this year, and prices spiked to over $2,000/MWh around that time.
Bloomberg article (archive link since paywall): https://archive.is/LnFvP
You could also just go straight to the source: https://www.iso-ne.com/isoexpress/. "Resource Mix Graph" and then pick 12/24/22 and look at it. At peak, we were generating 6.5GW from oil that day.
realbusabusa t1_ja4l68q wrote
It was 2% last year. After 2018 near disaster of a winter, ISO got serious about fuel reserves. Now we have multiple dual fuel plants that can switch from natgas to fuel oil during extreme cold when natgas gets priority to heating demand.
It really should be 0% oil and 0% coal at this point but multiple reasons why we're not there yet.
mattinnh t1_ja49dgz wrote
The companies that produce electricity misjudged what the cost to produce the electricity was going to be. The reason the price has risen so dramatically is because they need to make up lost profits.
katspresso t1_ja4yjx2 wrote
Eversource reported making nearly $200 million more last year than in 2021, their own report says they had a great year. https://www.eversource.com/content/docs/default-source/investors/eversource-earnings-2022-02-13-23.pdf?sfvrsn=e51f43ae_1
newenglandpolarbear t1_ja4u8k8 wrote
No, they skyrocketed because of corporate greed. Less demand SHOULD mean lower costs.
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