What is Energy Vision 2020?
Between now and 2020, Rocky Mountain Power is planning major investments, mostly in Wyoming. These investments will:
Add new wind generation
Upgrade existing wind farms
Build new transmission
These investments are part of Energy Vision 2020, a $3.5 billion investment plan that will help diversify rural economies, create jobs and add to the tax base. Planned projects include:
- “Repowering” the existing company-owned wind fleet by 2020 with longer blades and newer technology to increase energy production and extend the life of the projects
- Adding at least 1,100 megawatts of new wind by 2020, likely in Wyoming
- Constructing a new, 140-mile, 500-kilovolt Gateway West transmission segment
The availability of federal production tax credits will help cover the costs of these investments and provide a net savings to customers over the life of the projects.
How will Energy Vision 2020 benefit Wyoming?
The Energy Vision 2020 plan will help diversify the state’s economy, create jobs, and add to the tax base.
Specifically, we expect these projects to:
Create between 1,200 and 1,600 construction jobs in Wyoming
Add approximately $115 million in tax revenue through construction
Add approximately $11 million annually in tax revenue starting in 2021, growing to approximately $14 million annually in 2024
We have done our due diligence and believe that Wyoming citizens agree the state will benefit from additional jobs, more revenue, additional transmission infrastructure, enhanced electricity service, and economic diversity. We want to be a part of Wyoming’s continued energy leadership and its “all of the above” energy economy.
These investments mark a major expansion of the amount of clean, renewable energy serving our customers and provide a net cost savings at the same time. This is a win-win and represents our continued commitment to both diversify our energy resources and keep costs low.
Coal and gas remain important industries in Wyoming. These investments can provide the benefits of diversifying the economy while supplementing existing jobs and industry.
These projects will deliver cost-effective energy to Wyoming and other PacifiCorp customers, and can do so while saving our customers over the life of the investment.
We are doing this because we believe this is a significant benefit for our customers and saves money. We wouldn’t go forward with this if we didn’t see benefit for our customers.
The additional transmission segment will also help the company deliver energy more efficiently and cost effectively, including from Wyoming wind and coal plants. Relieving transmission bottleneck will allow more effective use of existing resources like Dave Johnston and Wyodak, which are currently located behind transmission constraints.
These investments mark a major expansion of the amount of clean, renewable energy serving Rocky Mountain Power and PacifiCorp customers, and will meet customer needs while costing customers less than any other alternatives. This is a win-win and represents our continued commitment to both diversify our energy resources and keep costs low.