The Economist had an article recently concerning electricity costs in Germany, Spain, Ireland, Britain and France. Germany is pursuing a vast renewable energy program of solar and wind and plans to shut down all of its nuclear plants. In contrast, France produces 85 percent of its electricity with nuclear energy.
Based on a conversion rate of $1.39 per euro, the rates for the above European countries are as follows: Germany, $0.40 per kilowatt hour; Spain and Ireland, $0.31 per KWH; Britain, $0.24 per KWH; France, $0.21 per KWH. The European Union average electricity rate was $0.278 per KWH.
The current incremental residential electric rate for Duke Energy is $0.093 per KWH, approximately one-third of the EU average.
I am in favor of renewable energy if our electric bill doesn’t increase dramatically. However, if we listen too closely to the renewable energy people, we will be seeing household electric bills like the Europeans!