The high cost of natural gas is driving the cost of electric power. The impact of hydropower foregone has a significant impact.
The failure of the Basin Mills project along with the future loss of the stations at Veazie, Howland and Great Works leads to an annual energy loss of a bit less than 300 million kilowatt-hours.
It takes about 7000 Btu of natural gas energy to generate a kilowatt-hour and the cost of natural gas is about ten dollars per million Btu. Therefore our loss of nerve on hydropower means that we will spend, through our electric bills, about twenty million dollars per year on imported natural gas.
Richard C. Hill