Cost of New Sources of Power
According to the Energy Information Administration, a new hydroelectric power source is
one of the most affordable new sources of power. The chart below shows the national average initial cost per kWh to bring on a new source of power.
Hydroelectric Saves Aspen Money Over Time
The proposed Castle Creek Energy Center would provide a long-term financial benefit to the community through a time tested technology. What's more, the CCEC will be a community asset - fully owned by the community after debt retirement. Thanks to past City Council foresight, the Ruedi hydroelectric facility saves Aspen Electric more than $600,000 per year compared to the purchase of equivalent quantities from the City's outside power provider, the Municipal Energy Association of Nebraska (MEAN).
Many of the expenses associated with the CCEC were necessary in order to construct an emergency drainline for the water plant's Thomas Reservoir. The remaining project expenses cover the structure to house the turbine, the tailrace, and the FERC licensing process. The tailrace is required to complete the emergency drain line regardless of whether energy production occurs (visit the Infrastructure page to see why).