Monday, March 07, 2005
Not in my backyard (NIMBY) !
This power plant is literally priceless. The city of Winnetka, IL has its own power company and built this plant right on Sheridan road overlooking Lake Michigan. To the right is a house literally worth $5mm plus.
Now why is this interesting? Utilities have a universal obligation to serve and everyone is regulated - but the rich and powerful don't want to have to look at transmission lines and power generating stations - that is for the poor and politically weak. It is exceedingly rare to see a power plant anywhere near desirable real estate, as a result.