Thursday, August 28, 2008

Wind Farm Corruption Brings Investigation to New York

Written on August 26, 2008

The New York Times reports complaints of wind power corruption have brought an investigation to rural New York. Small towns near the Canadian border have experienced rifts due to wind farm least options resulting in property damage and family feuds. Town officials are rezoning and allowing permits for their own personal gain and accepting financial bribes. There are currently nine large scale wind farms operating in New York.

http://www.windenergyinvesting.com/2008/08/26/wind-farm-corruption-brings-investigation-to-new-york/


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Transmission line problems

Wind Energy all boils down to one thing - the transmission lines and all the problems and costs that arise.

From the NY TIMES 8-27-08 By MATTHEW L. WALD Published: August 26, 2008

The Energy Challenge -Wind Energy Bumps Into Power Grid’s Limits

When the builders of the Maple Ridge Wind farm spent $320 million to put nearly 200 wind turbines in upstate New York, the idea was to get paid for producing electricity. But at times, regional electric lines have been so congested that Maple Ridge has been forced to shut down even with a brisk wind blowing.

That is a symptom of a broad national problem. Expansive dreams about renewable energy, like Al Gore's hope of replacing all fossil fuels in a decade, are bumping up against the reality of a power grid that cannot handle the new demands. The dirty secret of clean energy is that while generating it is getting easier, moving it to market is not.

The grid today, according to experts, is a system conceived 100 years ago to let utilities prop each other up, reducing blackouts and sharing power in small regions. It resembles a network of streets, avenues and country roads. “We need an interstate transmission superhighway system,” said Suedeen G. Kelly, a member of the Federal Energy Regulatory Commission.

While the United States today gets barely 1 percent of its electricity from wind turbines, many experts are starting to think that figure could hit 20 percent. Achieving that would require moving large amounts of power over long distances, from the windy, lightly populated plains in the middle of the country to the coasts where many people live. Builders are also contemplating immense solar-power stations in the nation’s deserts that would pose the same transmission problems.

click on link to read the enitre article
http://www.nytimes.com/2008/08/27/business/27grid.html?pagewanted=1&_r=2&sq=wind%20power&st=cse&scp=2


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Interesting Stock Market News



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PSC Commissioner Buley Resigns

ALBANY — The fate of the potential sale of Rochester Gas and Electric's parent to a Spanish company was thrown into doubt Wednesday by the illness of one state regulator and the marriage plans of another.A long-awaited vote by the state Public Service Commission on whether to allow the $4.5 billion sale of Energy East Corp. to Iberdrola SA of Spain was put off because only three of the five commissioners were present at a special meeting.Commissioners Cheryl Buley and Robert E. Curry Jr., who make $109,800 a year each, were absent. The vote was rescheduled for next Wednesday.

Curry was ill, and the commission later announced that Buley plans to resign next week because she is getting married and moving out of state, leaving the four remaining commissioners to decide the case.Buley's resignation would seem to make approval more difficult, since three votes are still needed for the sale to proceed. PSC members are appointed by the governor and confirmed by the state Senate. To read the rest of the article, click here:
http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=2008808280361

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Wednesday, August 27, 2008

NO VOTE today on the Iberdrola "deal"

BREAKING NEWS!!!!!

Only three commissioners attending the "Special Meeting" today.

The Vote on the Iberdrola Energy East acquisition will be pushed back to the September meeting.

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PSC Decision Today - Webcast Starts at 10:30am

The state Public Service Commission meets today on Iberdrola SA's proposed acquisition of Energy East Corp., and the Albany meeting will be Web cast. The special meeting begins at 10:30 a.m. and is expected to culminate in a vote on whether to approve the $4.5 billion deal.
The Web address is www.NewYorkAdmin.com.

From this morning's D&C:
After months of back and forth, hearings, rulings, concessions and the like, the time has finally come for the New York Public Service Commission to render its decision on the Iberdrola deal. click on link to read the entire article http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=2008808270330

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Tuesday, August 26, 2008

New York PSC to rule on Iberdrola's $4.5B bid for Energy East

Article in the D&C by Jim Stinson and Gary Craig • Staff writers • August 26, 2008

The future of the world's fourth-largest utility in New York state could soon be at an end, or a beginning.

Iberdrola SA of Bilbao, Spain, has bid more than $4.5 billion for Energy East Corp., the parent company of Rochester Gas and Electric Corp. and New York State Electric and Gas Corp. Fourteen months after the friendly deal was unveiled, Iberdrola is due to get a thumbs up or thumbs down Wednesday from the state Public Service Commission.

At stake are $2 billion in upstate investment, New York's reputation as a place to do business and what might happen to the fourth-highest ...

click on link to read the entire article http://www.democratandchronicle.com/article/20080826/NEWS01/808260336

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