2012 Cost Analysis of the New Energy Economy: $484 Million For Unneeded Energy
June 11, 2013
From January 2007 to January 2011, Colorado Governor Bill Ritter pushed through the General Assembly a legislative package of 57 bills known collectively as the New Energy Economy. In practice, the purpose of the New Energy Economy was to promote “clean energy” sources — primarily renewables and natural gas — through subsidies and mandates. By directing ratepayer money into these industries, Governor Ritter believed the New Energy Economy would boost Colorado’s competitiveness in the global market.... The bill is now coming due, and it is not pretty. In 2012 alone, Colorado ratepayers spent almost half a billion dollars on New Energy Economy policies, in return for unneeded electricity.