As pledged by Obama in 2008 (hey, he was honest!) electricity rates are going to skyrocket and coal plants are closing. So many villas to set on fire, so little time.

Consumers’ electric bills likely to spike as coal plants close

Consumers could see their electricity bills jump an estimated 40 to 60 percent in the next few years.

The reason: Pending environmental regulations will make coal-fired generating plants, which produce about half the nation’s electricity, more expensive to operate. Many are expected to be shuttered.

The increases are expected to begin to appear in 2014, and policymakers already are scrambling to find cheap and reliable alternative power sources. If they are unsuccessful, consumers can expect further increases as more expensive forms of generation take on a greater share of the electricity load.

American Electric Power, one of the country’s largest coal-burning electricity generators, said Thursday it will retire nearly a quarter of its coal-fueled generating capacity and that it will spend up to $8 billion to retrofit remaining units to meet regulations that start taking effect in 2014. Those moves will have an impact.

“The sudden increase in electricity rates and impacts on state economies will be significant at a time when people and states are still struggling,” AEP Chairman and CEO Michael G. Morris said.

Promises, promises. From a 2008 interview with the San Francisco Chronicle:

You know, when I was asked earlier about the issue of coal, uh, you know — Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.

From the same interview, Obama pledges:

So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.

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6 Comments | Leave a comment
  1. trevy says:

    Sooooo, lemme see here. Gasoline is about $3.50/gallon here in Oklahoma. So we can’t afford to drive anyplace on vacation.
    Now, with electricity “necessarily skyrocketing”, we can’t afford a “stacation” either.

    Proverbs 29:2
    2When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.

  2. rickh says:

    Ain’t he a Peach?

  3. dennisl59 says:

    Electricity Rates:

    Here’s what I know, for me, here in the Great State of Texas. I am paying $0.096 per KWhr with a 1 year contract. Having said that, if I’m on, for instance, a fixed income and I’ve budgeted for my monthly bill the ONLY way to keep that expense down is to use less. And at some point in time, when rates go up(and they will) then my Standard of Living will go down. Period.

    This is completely, totally and utterly by design by the Statists in Washington, DC=The destruction of the American Working Class, of those folks making between 35K and 250K a year, with a full time job. And if ANYONE thinks otherwise they are, in my opinion, clinically delusional. The numbers don’t lie, but the Dumb Bastard and all of his syncophats, cronies, and true believers in Socialism do.

    Oh, and did I mention that my favorite chocolate bar price just went up ~15% on Friday by the time I walked in the store and checked out? Nice, huh?

    Run, Sarah, Run!!!

    Ciao’

    posted 6/14 820pm, Texas time.

  4. otlset says:

    Shoot that’s nothing. He predicted the rise of the oceans would begin to slow too! The man’s a prophet.

  5. Hrankta says:

    Well to be fair, we are competing for electricity with all of those ATMs that stole our jobs!

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