On Friday, The Wall Street Journal published an article by Gordon Hughes that (somewhat rhetorically) asked this titular question: “Why Is New York Paying So Much for Wind Power?”
Hughes called the reader’s attention to the revelation that the state of New York had entered into a contract with two wind energy companies, an agreement that will quadruple the cost of energy for the consumer—and that’s including three billion in taxpayer dollars to offset the final price per megawatt-hour—which is “far above the break-even cost of generating electricity.”
Some might call this… “price-gouging” and “corporate greed.” (Just not the progressive Democrats sanctioning seemingly-endless corrupt business schemes in the “green energy” sector with the public’s pocketbook and the power of the pen.)
Mike Shedlock at MishTalk breaks it down here:
With a break even cost of $101 (thanks to subsidies), Equinor will make $54 per MWH and Orsted will make a mere $45 per MWH on something whose total cost should be $36 per MWH.
The Journal calculates Equinor and Orsted (foreign corporations) will each receive a total subsidy of more than $3 billion courtesy of U.S. taxpayers.