Fri Jul 30 2010
Your excellent article Nov. 4 on Hudson's participation in the American Municipal Power coal plant says AMP has told our City Council the project is "on schedule and on budget." Does AMP know what the phrases "on schedule" and "on budget" mean? A May 2006 press release from AMP projected the facility would be online by 2012 and would cost "approximately $1.5 billion." However, a 2008 feasibility study from AMP says the facility won't be fully operational until 2016 and will cost $3.9 billion, including financing. That's not on schedule, and it's not on budget.
Even worse, our 50-year contract for coal energy is like buying stock in yesterday's technology -- my first transistor radio was a most-prized gift 50 years ago. Do we want to pay the price for the next 50 years as the costs of this unwise project spiral out of control?
The fact is, AMP is good at buying power on the market (that's why Hudson rates are low compared to the Ohio average) not at building coal plants. Our officials need to pressure the company to abandon this ill-conceived plant and take advantage of low market prices instead. We can't afford to pay sky-high rates just so AMP doesn't have to admit they made a mistake.
Margaret and Jack O'Toole
Hudson
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