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Grassroots group criticizes legislature for overturning veto on bill that increases electric costs, undermines economic success
CONCORD, N.H. – Americans for Prosperity-New Hampshire (AFP-NH) today expressed disappointment in legislators for overturning Governor Sununu’s veto on Senate Bill 365. The legislature sustained the veto on Senate Bill 446. Both pieces of legislation force utilities to pay above-market prices for renewable energies.
“When you are in a hole, the first thing you should do is stop digging. Unfortunately for ratepayers, the legislature chose to keep digging and make it much more difficult to attract good, high paying jobs to New Hampshire. Granite Staters already suffer from some of the highest electric rates in the country, and raising these rates undercuts our ability to sustain the huge economic momentum our state is building,” said Greg Moore, AFP-NH State Director. “It’s disappointing the legislature denied rate relief for Granite Staters and made our state less competitive for employers. We thank Governor Sununu for his leadership and commitment to grow our economy. AFP-NH will continue to advocate for free-market solutions that ensure all Granite Staters have access to affordable energy.”
New Hampshire rate payers face some of the highest electric rates in the country. According to the U.S. Energy Information Administration, New Hampshire residents pay an average retail price of 19.40 cents per kilowatt hour, compared to a national average of 12.50 cents. Governor Sununu’s veto follows his 10-year energy strategy that focuses on allowing market forces to determine energy investments, rather than relying on costly subsidies that have been a key factor in the state’s high electricity prices.
An analysis conducted by Strata Policy Research and commissioned by AFP-NH’s sister organization, Americans for Prosperity Foundation, found New Hampshire’s energy policies contributed to Granite Stater’s high electricity costs.
The study recommended New Hampshire’s renewable energy programs be eliminated or reformed so that money is directed towards rate relief, rather than subsidizing inefficient renewable energy programs. The New Hampshire Union Leader highlighted the study in an editorial on why electric rates are so high in New Hampshire.