Those opposed to the Bloom Energy project in Newark are a little gleeful over the lengthy News Journal piece over the weekend on the cost of electricity from the growing number of Bloom fuel cells.
Thanks to low natural gas prices and coal prices, Delmarva Power customers are seeing a big gap between lower energy prices and the costs of fuel cell power. The $3.80 or so a month added charge is not good news in efforts to keep the state competitive in regard to electricity prices. At the same time, it unlikely that the extra charge alone is driving business out of the state as some would argue. Also keep in mind, the gap has widened because energy prices have dropped overall.
In fact, the state should probably brace for another small spurt in growth, with the upturn in the housing market, thanks to high property taxes in neighboring New Jersey that dwarf any utility bill hikes and will bring more retirees to the state.
The Bloom Energy deal, like the Fisker Automotive situation, is the by product of the loss of the state’s auto industry and furious efforts to get people working. The notable exception to the acclaim for Bloom was the Caesar Rodney Institute. The Dover-based public policy group opposed both Fisker and Bloom from the start. Others have jumped on board since that time.
As the N-J noted in an editorial, Bloom is a gamble, but one that many felt was worth taking at the time.
In the meantime, the I told you so statements, a few from people who had signed on to the project or remained silent while it was given the green light, will continue. And while much was made of the lack of transparency in the surcharge related to Bloom, it is easy to check out the impact, click here and do a little math based on your business and /or personal Delmarva bill.
