Power rates to continue decreasing
Richard Brown says electricity rates are locked in for five years and will not be affected by what is happening on the international scene.
Beginning this March, electricity rates will fall by 14 per cent across all rate categories. That will save Islanders $25 million annually for the next two years for a total savings of $50 million.
Rates are expected to be tied to the rate of inflation in years three, four and five of the five-year deal.
But while world oil prices may not affect electricity prices, it will affect the regulated price of gas on the Island which will be adjusted.
Oil closed at nearly $98 a barrel in New York on February 25, down from $103.
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Wyoming wind boost for US utility
WYOMING - US company Black Hills Energy has received regulatory approval to increase the size of its Corriedale wind farm in Wyoming to over 52MW from 40MW previously.
The South Dakota Public Utilities Commission approved the additional 12.5MW capacity after the Wyoming Public Service Commission determined the boost was within commission rules.
Black Hills Energy will install five additional turbines, raising the project cost to $79m from $57m.
Corriedale will be built near Cheyenne and is expected to be placed in service in late 2020.
Black Hills said that during the initial subscription period for its Renewable Ready program, applications of interest from…
