The cancellation by President Trump’s administration of a nearly $5 billion loan to the Grain Belt Transmission line is still grabbing headlines. Renewable energy supporters contend the cancellation will only result in higher energy costs for consumers.
It’s been a month since clean energy activists were stunned with news that the federal government loan guarantee would not happen. The Grain Belt will carry wind-powered electricity from southwest Kansas and across Missouri and Illinois and eventually to Indiana.
But wind supporters, as TCD reported, contend the cancellation will only hurt consumers because it comes at a time when electricity demand is soaring and costs are being passed along to ratepayers.
“Still, as utilities add more transmission lines to keep pace with demand, the costs get passed down to consumers much of the time. That’s why the Grain Belt Express is so important, as it would help save customers over $50 billion in energy costs over 15 years. It was also expected to employ thousands of workers in permanent jobs across the Midwest,” reported TCD.
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