Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
! Therm=100,000BTU=29.1 KWH. 1 therm in November cost $1.14. 1 KWH in November 22 cost $0.093. Both figures are exclusive of taxes, fees, customer charges, and delivery charges. Therefore, 1 therm equivalent of electricity costs $2.70. THERE CAN BE NO PAYBACK ON THE $63,000 INVESTED FOR THIS CONVERSION! I can/should continue to do a more complete analysis to look at relative efficiencies of gas vs electric but gas heat would have to be wildly inefficient to make up for the x2.4 cost factor. Another question to answer is why the complexity of a heat pump vs just replacing the gas… Read more »
Corrupt Crooked ComEd’s Latest Fraud Scam
who ultimately subsidizes COMED conversion to elect from gas? fed covid $bucks$?, taxpayers? COMED customers/ ratepayers? rainbow & lollipop jb/mendoza math $?
Hmm,
It seems that Illinois has also got a plan to rid Illinois of home owners.
Electric heat is not more efficient than gas. What a bunch of lies being spun.