As consumers are paying more for life’s necessities, Consumer Energy Alliance commissioned an independent study examining the impact shutting down Line 5 would have on consumers across the Midwest which was cited as leading to higher energy costs.
A Line 5 shutdown would raise energy costs. Propane prices could rise by 10 to 14 cents per gallon, which is a 5-7% increase from residential propane prices in Michigan last March. If households in the Upper Peninsula opt to switch to electric heat, it could cost them over $25,000 initially and an additional $3,400 to $3,900 every year. And the regional economic impact would be devastating: Michigan alone could lose over $3 billion in economic activity, $1 billion in gross state product, and $58.6 million in state tax revenue, according to a report by the Consumer Energy Alliance.
Read more – Mackinac Center for Public Policy
