Why is TransCanada interested in a Colorado pumped storage plant and HB 11-1083?
Reselling low cost coal, nuclear or natural gas energy produced in Colorado at higher rates in open markets. Pumped storage enables such reselling but the inherent energy waste, regulations and the high build costs of pumped storage make it unprofitable unless subsidized by Colorado ratepayers. House Bill 1083 will allow the needed rate hikes to ensure TransCanada profits regrdless of their costs to build or operate the plant.
The South Slope Pumped Sotrage proposal, around since 2006, has been rejected in the past by Xcel Energy, private investors, foreign investors, and the Public Utilities Commission as too costly, unnecessary and unfeasible.
a company like us will only undergo a project like this if we have support
TransCanada spokesman, Pueblo Chieftain