The House Bill, H7592 was introduced by Representatives Gallison, Malik, Morrison, Edwards, and Handy on February 16, 2012.
The Senate Bill 2870 is sponsored by Senator Lou De Palma, with the support of Senators Paiva-Weed and Chris Ottiano. It has been deemed to be a “dangerous” bill by Rhode Island Statewide Coalition, is too far-reaching, and has too much power. It is another Deepwater Wind, but far worse due to the power of eminent domain!
The group was formed in 2009 by nine communities, Bristol, Warren, Barrington, East Providence, Portsmouth, Little Compton, Tiverton, Middletown and Newport, and has pretty much stayed under the radar. At least one meeting violation has been filed with the Attorney General’s office.
Basically the bill creates an entitity that can issue bonds to develop renewable energy – which is then sold to Narragansett Electric via net metering laws.
They will issue bonds to build windmills (which only last 20 years) and strap the taxpayers with the bill over x years. They will then sell the energy to the taxpayers at rates higher than natural gas energy – thus increasing the taxpayer’s energy bill.
This consortium can also employ people as it sees fit – which would come out of the net metering revenues.
And, of course, the bill calls for providing pensions for these employees! “To pay pensions and establish pension plans, pension trusts, profit sharing plans and other incentive and benefit plans for any or all of its agents and employees.”