THE FIW TURBINES SAVED FIEC CUSTOMERS MONEY

FIEC customers saved $1,374,871 in energy costs from 2010 to 2024 with the FIW turbines. FIEC’s cost of energy includes transmission and the cost of kWh purchased from FIW and the mainland energy market delivered over the submarine cable.

Energy costs vary over time. FIEC’s actual cost of energy (solid line below) is the combination of FIW’s cost/kWh (dotted line) and the mainland cost/kWh (dashed line).

The mainland cost of energy peaked in 2022 with the price of natural gas. FIW’s cost peaked in 2023 when we could not get parts for turbine repairs. We anticipate mainland power costs to continue to rise as discussed in https://www.newscentermaine.com/article/news/regional/the-maine-monitor/maine-electricity-utility-prices-grew-third-fastest-rate-analysis/97-5644ceec-e7cb-4249-9c66-846af65156e1.

So yes, FIW saved us money. A community meeting held on December 4, 2023, discussed details about energy costs. A video is available at https://www.foxislandswind.com/videos.