The article captures the primary issues, but, then allows the Mayor to obfuscate the problem by claiming "in the long run, it will be good for the city ratepayers and for the environment".
In all, the city contracts for more electricity than its municipal utility needs to serve customers — and that's been a problem. Surplus power is sold into a market hampered by weak prices, often delivering financial losses instead of the returns Georgetown expected.
The Mayor continues to defend the decision to go 100% renewable as an economic decision. But, if that is true, why has the Mayor continually advocated in movies and on national television the environmental benefits. Al Gore anyone?
Check out this clip: https://www.youtube.com/watch?v=t-llelAbVWc
At last count the City has lost $33M and the losses continue.
Will those losses ever be paid back to the taxpayers and ratepayers of Georgetown? If you believe that, I think there is a bridge in New York for sale at a bargain price.
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