Virginians Will Pay, and Keep Paying, for ‘Affordable’ Energy

A judge overrules Trump’s effort to cancel CVOW, an offshore wind project, that will cost more than $20 billion.

By Judge Glock. Excerpts:

"the electricity produced by this Project will be among the most expensive sources of power” in the U.S., whether measured by total capacity created or by actual electricity delivered. It is also the “costliest project being undertaken by a regulated utility in the United States.”"

"The state expected the cost of construction at about $10 billion, but once financing and other long-term costs are included, the total will be more than $20 billion."

"These costs don’t include the billions of dollars in federal tax credits for the project"

"offshore wind is the most expensive type of energy generation available—besides a type of gas turbine used mainly during emergencies—and is more than twice the cost per megawatt hour of onshore wind."

"the Virginia Clean Economy Act mandated that several fossil-fuel generators shut down."

"It will make the most power in spring and fall, when demand is lowest, and the least in summer afternoons, when demand is highest."

"the project would typically produce less than half its full power capacity."