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Vineland Gets Green Light For New Power Plant
Company Online Stock Trading The verdict is in. Voters on Tuesday decided in favor of allowing the city to build a $57.5 million natural gas-fired power plant.
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Online Trading Stock And According to unofficial tallies available Tuesday night the referendum was approved 5,305 to 1,681 votes. Almost 34 percent of the registered voters voted on the referendum Tuesday.
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Stock Investing Course "We were cautiously optimistic, but we are very happy with the results," an elated Mayor Perry Barse said. "The verdict is clear, we received a 3-1 mandate."
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Stock System Trading Barse said the new machinery would be paid for by the Municipal Electric Utility's capital budget and bond funding. He said the city will also use $12.5 million of the $23 million, which it saved in a recent revamped contract with the Vineland Cogeneration Limited Partnership, toward paying for the machinery.
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Stock Investing Game "We will move with dispatch, and we will hit the ground running tomorrow," Barse said.
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Market Stock Trading Tuesday's referendum stemmed from a 10-year electric supply strategy study by a consulting firm last year.
Online Stock Trading Canada Officials said that the proposed plant would be far more efficient and environmentally friendly than the existing machinery. The current plant uses coal or oil in a boiler to generate steam to turn the turbine and the generator. The new plant would burn natural gas in a jet engine, which would turn the generator to make power. The plant also would take in exhaust from the generator and put it into a waste-heat boiler to make steam for running the turbine and the generator. The plant is expected to produce about 100 megawatts of electricity.
Stock Investing Basics Officials said a gas-fired plant would protect customers from "wild swings" in the energy wholesale market.
Day Online Stock Trading By Madhusmita Bora
The Press of Atlantic City - 11/5/2003
Topic: Energy
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