MOVotes Conservation

Renewable Energy is a Cost Saver
Elections  Missouri Clean Energy Initiative

Renewable Energy Initiative to Bring Long-term Savings on Electric Bills

Missouri consumers can expect to save $331 million in electric bills over the next 20 years, now that the Missouri Clean Energy Initiative wass approved by voters in the November 2008 elections. That’s the conclusion of a recent cost analysis of the renewable energy ballot initiative.

The Missouri Coalition for the Environment released the cost study.  It concludes that the Clean Energy Initiative (which appeared as Proposition C on all Missouri ballots in November) will have little direct effect on ratepayers’ utility bills.  However, an expected rise in fossil fuel costs due to increased demand and regulation of greenhouse gas emissions means the initiative would actually result in a net savings to electricity consumers over time, as wind, solar, and renewable resources begin to replace coal and natural gas.  Over the next 20 years, the study shows Missourians will experience a cumulative net savings of $331 million.

The report also indicates that by 2021, Proposition C will reduce carbon emissions in Missouri, having the same effect as permanently removing 2 million cars from the road.

The study was funded by the Energy Foundation and authored by Martin Cohen.  Martin served as Executive Director of the Illinois Citizen Utility Board from 1992 to 2005, served as the Chairman of the Illinois Commerce Commission, and was the Director of Consumer Affairs for Illinois Governor Rod Blagojevich.  A full report of the study may be downloaded by clicking here.

The Missouri Clean Energy Initiative requires Missouri investor-owned utilities to get 15% of their electricity from clean sources by 2021.

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