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Renewable energy credits drop in value

Posted by wlpo on March 12, 2013

The electricity generated by Peru’s hydro-electric plant once earned the city more than half of a million dollars but that’s hardly the case today.

Renewable Energy Credits fetched $17 each when they first sold credits in 2009 according to City Clerk Dave Bartley.  Now the credits are worth a mere 40 cents each.

The city council approved the sale of 32,000 energy credits Monday night. They’ll make just less than $13,000.

Bartley says the value of the energy credits declined as more wind farms came online. Money from the sale goes back into the city’s electric fund.

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