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Hedge Against Inflation? Alternative Currency “Goldbacks” Catching On In Wyoming

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Hedge Against Inflation? Alternative Currency “Goldbacks” Catching On In Wyoming


T-Joe’s Steakhouse and Saloon owner Sherry Lyle collects about $1,000 a month in a type of currency that at first looks like it must come from a foreign country or a board game.

The flashy golden bills capture attention around the dining room whenever they come out, but were actually designed and developed specifically around Wyoming.

They’re called Wyoming goldbacks, and they are offered in denominations of 1, 5, 10, 25 and 50 online at wyominggoldbacks.com. Each denomination is decorated with art that showcases the Cowboy State while also highlighting a different virtue — liberty, loyalty, respect, and so on.

But what’s really unique about these bills is that they’re made of pure gold that has been laid down inside a protective polymer using the latest, cutting-edge technology.

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The smallest denomination — a 1 — is 1/1000th of a troy ounce of gold. That bill has Devils Tower as a backdrop, with a buffalo, an eagle and sunflowers framing a Shoshone woman named Reverentia (Latin for “respect”).

The caption below her translates that idea to “revere what is sacred.”

The Art Of Business

It’s a work of art, and the beauty is part of the reason Lyle started accepting goldbacks at her restaurant. She likes collecting different kinds of currency.

She also likes that these bills were designed specifically for Wyoming.

“They’re unique to Wyoming and a couple of other states,” she said. “And it kind of shows our independent spirit.”

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Lyle estimates that she has a party wanting to pay a check or tip a server in goldbacks about every other week.

Sometimes, the transaction confuses those who are watching.

“One of our servers was like, ‘Oh, we can tip our bussers in pesos?” Lyle recalled, laughing. “That was kind of funny, but like, ‘No, you can’t.’”

Because the currency contains real gold, the bills can gain or lose value over time with the value of gold. And like the commodity, gold mostly goes up in value.

Over time, Lyle has watched the value of her goldbacks rise, and now she actually has some from every state with a series — Nevada, New Hampshire, South Dakota, Wyoming and Utah, the latter being where the series first began.

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“It doesn’t go up a ton,” she said. “But it’s just been a neat thing, and it’s nice to support the businesses that sell these. We will use them eventually, but we’ll always keep a couple just for, you know, the collector value.”

A waitress counts goldbacks at T-Joe’s Steakhouse and Saloon while Dan Walter checks an app that relays that day’s exchange rates. (Renée Jean, Cowboy State Daily)

Apocalypse Not

T-Joes isn’t the only Wyoming business accepting goldbacks.

Adam Mathes, owner of A-1 Tire in Casper, started taking them about a month ago after one of his customers showed him a few of the bills.

He wasn’t looking at it from any sort of apocalyptic perspective. He just sees goldbacks as another option to differentiate his store from corporate chains.

“It looks like we’re the only tire store that will accept something like that around here,” Mathes told Cowboy State Daily. “Being a locally owned small business, I don’t know if some of the corporations would even consider that. So, it’s another way for people to see our business and to be able to have a different form of payment.”

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Tyler McCann, owner of Cowboy Cuts in Pavillion, thinks goldbacks might serve as a great hedge against inflation, in case there are any more price surges.

“I think gold is more stable,” he said. “Even though it’s going up and down, I just see so much inflation that I would like to have that available for our customers.”

So far, neither of them have had any takers, but McCann was particularly keen.

“I think they are fascinating,” he said. “You can feel the difference in the weight between different denominations. You can almost immediately tell the difference when you hold them in your hand.”

In all, about 160 Wyoming businesses now accept goldbacks in an incredible range — pet stores, restaurants, barber shops, carpenters, auto parts and more.

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It Came From A dream

Goldbacks arose from a dream that the company’s founder, Jeremy Cordon, had about some sort of an apocalypse or emergency.

“There was some sort of national emergency,” Goldback Chief Operating Officer Kevan Mills told Cowboy State Daily. “He didn’t know what it was, whether it was a war, or an earthquake, or what. But he was at a grocery store trying to buy groceries and everyone in the store was trying to pay with credit cards and dollars.”

The store owner wasn’t having it.

“We don’t take that here, it’s no good anymore,” the dream grocery store owner said.

Someone else came up to the owner with an impossibly thin, rectangular piece of gold, and offered that to the owner instead.

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“Would you take this?” the customer asked.

“Gold?” the owner replied. “Absolutely I’ll take gold.”

It was then Cordon woke up and immediately called his business partner to tell him about the dream.

“We have to do this,” Cordon told him. “It’s incredibly important.”

  • Jaquie Georgio, a waitress at T-Joe's Steakhouse and Saloon, looks at a collection of goldbacks from various states. She has yet to receive a tip in them, but said they are cool looking and she would love to get one.
    Jaquie Georgio, a waitress at T-Joe’s Steakhouse and Saloon, looks at a collection of goldbacks from various states. She has yet to receive a tip in them, but said they are cool looking and she would love to get one. (Renée Jean, Cowboy State Daily)
  • Laura Hoch, from left, watches as her husband Chris sorts through their goldbacks while across the table, Caroline Walter watches and her husband, Dan Walter, checks exchange rates using the Goldback Company's app.
    Laura Hoch, from left, watches as her husband Chris sorts through their goldbacks while across the table, Caroline Walter watches and her husband, Dan Walter, checks exchange rates using the Goldback Company’s app. (Renée Jean, Cowboy State Daily)
  • Jason
    Jason “Junior” Lyle holds up a collection of goldbacks traded at T-Joe’s Steakhouse and Saloon for meals. The restaurant is one of 160 stores in Wyoming that are willing to accept goldbacks in exchange for services. (Renée Jean, Cowboy State Daily)

Making Gold More Practical

While the idea for goldbacks may have come from a dream, the bills do solve a practical, real-world problem for those who’d like to use gold for transactions.

A single gold coin weighing an ounce is worth just over $2,000 — a bit hard for most grocery stores, restaurants, beauty shops and the like to break down.

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But a single goldback with a thousandth of an ounce of gold — worth about $4.66, according to Tuesday’s exchange rate — is a much easier denomination to work with.

“For perspective, a thousandth of an ounce, if you took a BB from a BB gun and cut it into 12 pieces, one of the pieces of that BB would be 1,000th of an ounce,” Mills told cowboy State Daily. “So how do you carry that around? If you’re going to carry that little teeny — I mean it’s not much bigger than few grains of sand.”

But gold is highly malleable, so a small amount of it can be spread very thinly.

“A 50-cent piece of gold, hammered to as thin as you can possibly make it would cover an entire football field,” Mills said. “That’s how thin you can make gold.”

Then, it’s just a matter of something to protect the integrity of such a thin sheet of gold, keeping it all intact so that every bill has exactly what it says it has regardless of trades.

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That’s where the polymer comes into play. It both protects the thin layer of gold and makes it easy to carry around.

“Now you can put it in your wallet and carry it safely,” Mills said.

Goldbacks are also what’s called “fungible,” which means they are available in readily interchangeable denominations. Five 1s, for example, can be traded for a 5 goldback, which is 1/200th of a troy ounce, or 10 ones could be traded for a 10 goldback, which is 1/100th of a troy ounce. Denominations of 25 and 50 are also available, which are 1/40th and 1/20th of a troy ounce respectively.

At First Utah Was It

Although goldbacks can be used anywhere that a business is willing to trade in gold, the bills started out initially as strictly a Utah series. There was never any intention of doing goldbacks that highlighted other states, Mills told Cowboy State Daily.

But once the Utah goldback series started circulating, they almost instantly attracted interest from investors who wanted to see their states highlighted with a goldback series.

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Soon, there were even sponsors willing to help front the cost of that.

Wyoming was actually the fourth state to get its own series, and the sponsor was Natrona County state Sen. Bob Ide, R-Casper.

Ide was not a state senator at the time he sponsored the development of the Wyoming goldback, just someone who Mills said was interested in seeing it happen.

Wyoming may have been the fourth state to get its own series, but it’s been tops when it comes to embracing goldbacks, according to investor Abram Taylor.

“Whenever I check Google trend reports, Wyoming is usually the top one or two every day of people looking them up,” he told Cowboy State Daily. “And whenever we have gone up to Jackson Hole to, you know, have lunch and get out of town, I always tip with goldbacks and they’re always very well received. The waitresses are always like, ‘Oh my, what is this? This is cool.’”

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Taylor even recalls buying his wife an expensive fur coat in Wyoming, and was pleasantly surprised when the shop’s owner was willing to take goldbacks for the purchase.

Not only that, the shop owner seemed really eager to get them.

  • A range of goldbacks from different states in the collection of bills T-Joe's Steakhouse and Saloon in Cheyenne has collected so far.
    A range of goldbacks from different states in the collection of bills T-Joe’s Steakhouse and Saloon in Cheyenne has collected so far. (Renée Jean, Cowboy State Daily)
  • Wyoming goldbacks fan 9 26 22
  • A 1 Wyoming goldback contains 1/1000th of a troy ounce of gold laid down in a polymer that protects the gold and the artistic design.
    A 1 Wyoming goldback contains 1/1000th of a troy ounce of gold laid down in a polymer that protects the gold and the artistic design. (Renée Jean, Cowboy State Daily)

The Midas touch

Goldbacks have had something of a Midas touch so far, trading in all 50 states and on every continent in the world except Antarctica.

Everyone who touches them seems to fall in love with them.

“So, our first year in business we did $250,000 in goldbacks,” Mills told Cowboy State Daily. “Our second year, we did $1 million dollars in goldbacks. Our third year, we did $6 million and our fourth year, we did $12 million. Last year, we did $34 million.”

Mills credits the exponential growth in part to the way gold can work as a hedge against inflation.

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“In the two years since we released the Wyoming goldback in September 2022, the value of goldbacks has gone up by 28%,” Mills said. “So, if someone bought gold two years ago and then sold them to Alpine Gold for 5% under the daily rate today, they would have made 23%.”

Inflation rates from October 2021 to October 2022, by comparison, were 7.7%, according to the Consumer Price Index, making Goldbacks a clear winner for that particular time frame.

Mills said one important distinction to make with goldback bills is that they’re not meant to replace the U.S. dollar. They are what is called a local currency, of which there are about 3,000 in the United States.

“The federal government issues all the currency and there’s actually in the Constitution it’s written that states cannot produce their own currency and that nothing shall be used as money unless it be gold or silver,” he said. “So that’s what we do. We’re just giving people an alternative currency.”

Renée Jean can be reached at Renee@CowboyStateDaily.com.

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Three deceased in Tuesday head-on collision in Crook County

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Three deceased in Tuesday head-on collision in Crook County


HULETT, Wyo. — Three travelers are dead after a head-on collision in Crook County on Dec. 9. According to the Wyoming Highway Patrol, the crash occurred as the result of an unsuccessful attempt to overtake another vehicle on Highway 212 in the far northeast corner of the state.

According to the WHP report, published on the WYDOT website, a Subaru Forester was westbound on the route, heading towards the Montana-Wyoming border, at around 11:52 a.m.

Near milepost 16, the driver of the vehicle reportedly elected to overtake another passenger vehicle ahead of it on the two-lane highway.

While heading west in the eastbound lane, the Forester collided head-on with a Subaru Outback heading eastbound. Both cars came to sudden and uncontrolled stops in the southern road ditch. The other westbound car, which the Forester had originally attempted to pass, was left unharmed.

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The three fatalities have been identified as 29-year-old Johnathan Vought, 73-year-old Eugene Cadwell and 52-year-old Rebecca Cadwell. Vought was reportedly a resident of New York, while both Cadwells resided in Montana.

The report did not indicate who among the deceased were in which car. They were all, however, wearing their seatbelts.

Speed and driver inattention were cited as the primary contributing factors in the incident. Weather conditions, including severe winds, overcast skies and wet roads, were also present during the time of the crash.

A map of the route on which the crash occurred, nestled in the far northeast corner of Wyoming and connecting Montana and South Dakota, can be seen below.

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This story contains preliminary information as provided by the Wyoming Highway Patrol via the Wyoming Department of Transportation Fatal Crash Summary map. The agency advises that information may be subject to change.



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Wyoming Ranchers Hoping Solar Can Lower Costs Say Utilities and the State Stand in Their Way – Inside Climate News

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Wyoming Ranchers Hoping Solar Can Lower Costs Say Utilities and the State Stand in Their Way – Inside Climate News


COKEVILLE, Wyo.—Tim Teichert and Jason Thornock want the sun to help them survive as ranchers in Cokeville, Wyoming. On an overcast May day, the two drove around the one-restaurant town, lamenting high electricity prices and restrictive Wyoming laws that they say have thrown an unnecessary burden onto their broad shoulders.

“I pay $90,000 in an electric bill,” Teichert said as he and Thornock made their way through fields of cattle, alfalfa and hay. “Jason’s about $150,000. If Jason had that $150,000 back, his kids could all come back to Cokeville, and work and live here, and you’d be able to raise kids here in Cokeville.”

In 2023, hoping to improve their margins, Teichert and Thornock each applied for Rural Energy for America Program (REAP) grants, which the Biden administration had infused with $2 billion to help support farmers interested in renewable energy. 

While neither man was thrilled about the prospect of applying for federal funds—they prefer smaller government—they were interested in using solar to cover their own electrical demand. Teichert and Thornock say this could have saved them five or six figures annually, and made their businesses more attractive to their kids.

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Across Wyoming and the U.S., Americans increasingly face skyrocketing electricity bills. In 2023, Rocky Mountain Power, Teichert and Thornock’s utility and the largest in Wyoming, asked regulators at the state’s Public Service Commission to approve a nearly 30 percent rate increase; the next year, they asked to raise rates by close to 15 percent. Though both requests were ultimately granted at lower rates, affordability concerns have sent almost every corner of Wyoming scrambling for ways to defray rising electricity costs.

A fraction of homeowners already do this in the Equality State by using credits from their utility for generating their own electricity using solar panels and sending excess amounts back to the grid, an arrangement known as net metering. But Wyoming law caps net-metering systems at 25 kilowatts, large enough to include just about any homeowner’s rooftop solar system, but too small to provide enough credits to offset all the electricity larger properties, like ranches, draw from the grid.  

Earlier this year, a coalition of environmentalists, businesses and ranchers, including Teichert and Thornock, unsuccessfully supported a bill that would have raised Wyoming’s net-metering cap to 250 kilowatts.

Teichert and Thornock were initially counting on changes to the law as they eyed REAP funds. Teichert, a sturdy man with pale blue eyes and a trim Fu Manchu mustache, eventually applied and was awarded a $440,000 grant to build a ranch shed supporting around 250 kilowatts of solar panels. Today, with no ability to net meter, he fears he may never recoup his investment, which was over $500,000. Thornock, whose wide, boyish grin sits atop a hefty build, was approved for $868,000 in REAP funding to build a 648-kilowatt solar system. Concerned that his project’s viability rested on the judgment of state lawmakers, he returned the money.

The Department of Agriculture has since stopped funding renewable energy projects on farmland. REAP was a “huge opportunity we all missed in Wyoming,” Thornock said.

The two men are not the only Wyoming ranchers interested in using solar to give their businesses more stability.

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“A lot of ranchers really look to renewables to help diversify their revenue stream, keep the ranch whole, and keep their family on the ranch, keep the land together,” said Chris Brown, executive director of Powering Up Wyoming, a renewable energy advocacy group. Most of the ranchers he’s worked with are interested in leasing their lands to solar developers, rather than purchasing their own systems, and his organization is neutral on net-metering.

Rocky Mountain Power says it is open to changes in the state’s net-metering laws, and the utility did not take a position on net metering during last spring’s legislative session.

“It’s not a level playing field; you’re dealing with a monopoly—a government-subsidized monopoly, government-protected monopoly.”

— Jason Thornock

“We have worked diligently in recent decades with customers, municipalities, state legislatures, in order to facilitate particular regulatory and pricing changes to allow customers to meet their energy goals,” said David Eskelsen, a spokesperson for PacifiCorp, Rocky Mountain Power’s parent company and a subsidiary of billionaire Warren Buffett’s Berkshire Hathaway. 

If rate hikes keep coming and margins don’t improve, Teichert, who runs his ranch with his brother, fears he and Thornock will eventually have to sell their lands, which crisscross much of Cokeville. They find other utilities’ arguments against net-metering expansion dubious, and fume at the business model and regulatory environment that allows utilities to earn enormous profits but restricts their customers from making their own energy use more affordable. The two ranchers find it particularly ironic that Rocky Mountain Power could build power lines across their property to carry renewable energy to California, Oregon and Washington, while it is illegal for them to install enough solar panels to cover their own electrical bills.

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“It’s not a level playing field; you’re dealing with a monopoly—a government-subsidized monopoly, government-protected monopoly,” Thornock said on his ride to see Teichert’s solar array. “It’s got all the power in the world. And, like Tim says, they want to sell renewable energy to California, [Washington] and Oregon. They won’t let us do it because they want the control.”

Reaping Few Rewards

Teichert pulled his truck through a gate and into a field of alfalfa and hay. Just beyond was a shed with 18 red steel legs that looked like an enormous centipede straddling bales of hay and some farming equipment. On top of the shed sat Teichert’s $1.1 million solar system, which was designed to cover the electrical costs of running all his irrigation system’s pivots and pumps.

If Teichert could net meter, he says he would be more competitive with ranchers just a few miles away in Idaho and Utah, where net-metering laws are much less restrictive than in Wyoming.

In Idaho, ranchers can install up to 100 kilowatts of solar, and that number jumps to 2 megawatts for ranchers in Utah, 80 times the limit in Wyoming.

Tim Teichert installed around 250 kilowatts of solar using REAP funding, hoping Wyoming would change its net-metering laws.Tim Teichert installed around 250 kilowatts of solar using REAP funding, hoping Wyoming would change its net-metering laws.
Tim Teichert installed around 250 kilowatts of solar using REAP funding, hoping Wyoming would change its net-metering laws.

Rocky Mountain Power charges irrigators different base electricity rates in each state, but regardless of the price of the power, any savings are helpful to big users like agricultural operations.

“Quite a few of the farmers [in Idaho and Utah] do it,” said Teichert, of net-metered solar. 

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In 2023, while Teichert was designing his system, Thornock was considering whether it was wise to spend his money on a solar array. He believed there was a good chance Wyoming wouldn’t change its law to increase the cap on net metering. Since his system would be more than 25 times the size that’s allowed to net meter, Thornock anticipated it would be extremely difficult for it to pay for itself if he wasn’t credited for sending excess electricity to the grid. He backed out of his REAP grant, and advised Teichert to do the same.

But Teichert forged ahead and installed his panels, believing it would be no big deal to convince Wyoming lawmakers to adjust the state’s net-metering law—especially given the more advantageous arrangement ranchers in Idaho and Utah enjoy with the same utility. “I thought I’d be ahead of everybody,” he said. 

Once the bill to raise Wyoming’s net-metering cap failed, Teichert pivoted. He began exploring a power purchase agreement with Rocky Mountain Power, in which the utility would buy electricity from him like he was a power plant. He said he had been told by the company installing his panels that a power purchase agreement could net him a good deal.

But when he saw how much the utility would pay him, he laughed. The utility would give him less than 1 cent per kilowatt hour in winter periods of low demand, and about 4 cents in peak summer demand hours. He would get much more of a financial benefit from the electricity he sent to the grid if he was instead compensated through net metering, which Wyoming law typically requires be credited at Rocky Mountain Power’s retail rate of electricity. The utility charges him around 14 cents per kilowatt hour, he said.

Setting up to sell his excess electricity to the grid through a power purchase agreement could leave Teichert even deeper in the hole, he added, as the utility informed him it would need $43,000 just to look at connecting his system to its grid. 

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Teichert looks over his power purchase agreement with Rocky Mountain Power. He is forgoing the agreement because he doesn’t believe it will ever let him recoup the costs of his system.Teichert looks over his power purchase agreement with Rocky Mountain Power. He is forgoing the agreement because he doesn’t believe it will ever let him recoup the costs of his system.
Teichert looks over his power purchase agreement with Rocky Mountain Power. He is forgoing the agreement because he doesn’t believe it will ever let him recoup the costs of his system.

Originally, Teichert expected to pay off his solar shed in 10 years, but with the additional costs and the rates the utility offered, “I don’t know that I’ll ever come out on the deal,” he said. 

And now, the federal support that incentivized him to pursue solar has been eliminated; in August the Department of Agriculture announced it would no longer fund solar or wind projects through REAP. 

Teichert eventually decided to purchase a battery system to back up his panels. He does not plan on selling any of his electricity to Rocky Mountain Power.

“I should have listened to Jason,” he said.

Thornock feels he dodged a bullet.

Driving away from the solar shed, Teichert and Thornock said their history with Rocky Mountain Power contradicts other utilities’ arguments against net-metering.

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Lines in the Valley

The biggest of the power lines crisscrossing the valley where Teichert and Thornock ranch belong to PacifiCorp, whose planned Gateway West project to deliver renewable energy to customers in California, Oregon and Washington would add even more lines. Some of those new lines could cross Teichert and Thornock’s properties, the men say. 

They’ve got more experience with power lines than most utility customers, as they actually built some of the smaller lines coming off Rocky Mountain Power’s system.

Both men say the utility sent inflated estimates of the cost to install new lines to bring additional power to their growing ranching operations, leading them to seek help elsewhere.

In 2020, Teichert said he contracted a company to put in a power line for about $600,000 after the utility told him he would need to pay over $1 million for the same job, he said. Thornock has repeatedly testified to state lawmakers that Rocky Mountain Power nearly bankrupted him when he first began ranching in the late 2000s after going back and forth with him about whether they would deliver power on lines he had installed. Thornock wound up in court and lost, then had to cover the utility’s attorney fees.

The whole saga “was that close to breaking me,” he said, as Teichert drove by the poles he had installed. 

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Jason Thornock wishes he could use solar to offset an annual $150,000 electrical bill.Jason Thornock wishes he could use solar to offset an annual $150,000 electrical bill.
Jason Thornock wishes he could use solar to offset an annual $150,000 electrical bill.

Utilities warn that net-metering systems can allow those with rooftop solar to avoid paying fixed expenses for the grid they feed into, like system maintenance and construction costs, which, according to reporting by the New York Times, account for a growing share of utilities’ spending. “That in effect sets up a subsidy flowing from customers who don’t use net-metering systems to those who do,” said Eskelsen, PacifiCorp’s spokesperson. Any price issues rooftop solar customers cause are confined within their “rate class” of customers who use a similar amount of electricity, he added.

Determining how—or whether—to alter the rates for net-metering customers to make sure they’re paying their fair share for the infrastructure that takes their excess energy has been a sticking point between utilities and Wyoming’s net-metering supporters. Rooftop solar supporters say that subsidization likely occurs all over the grid regardless of whether a homeowner or business is net metering, and claim that avoiding transmission costs saves all ratepayers money.

Experts generally say that rooftop solar’s dependence on infrastructure that it isn’t paying for won’t create billing issues until 10 to 20 percent of a utility’s customer base is in the program. Less than two percent of all Wyoming homes have rooftop solar panels, according to estimates from the Solar Energy Industry Association.

Given all the work he’s paid for, Teichert finds utilities’ arguments about cost sharing disingenuous. “When they sit there and say, ‘Well, we’re not paying our share,’ we’ve more than paid our share,” Teichert said. “That bugs me that they lie like that.”

Thornock said he would be happy to pay for any issues a net-metering solar system may cause—provided the new rate is fair, and preferably not suggested by a utility.

“We’re not asking for a handout. I don’t want Rocky Mountain Power subsidizing me,” he said. “I just want to be able to compete. I just want to be able to make a living.”

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When told of Teichert and Thornock’s experience building their own power lines, Eskelsen was surprised, but said it was possible in such a rural area. “That’s not something that we typically allow,” he said.

But what really bothers Teichert and Thornock is the utility business model. In Wyoming, as determined by the Public Service Commission in the company’s latest rate case hearing, Rocky Mountain Power is entitled to a 9.5 percent return on equity, around the national average, according to S&P estimates. In other words, if Rocky Mountain Power uses shareholder funds to build long-term assets, like power plants, it can recover up to an additional 9.5 percent of the total value of those assets from its customers and deliver that back to shareholders as profit.

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This incentivizes Rocky Mountain Power to “explode [their] costs,” Thornock said. “Ten percent of 10 million is a lot more than [10] percent of a million,” he continued. “Even I can do that math.” 

At least one former utility executive believes that the nationwide average of around 10 percent return on equity for utilities is too lucrative, and should be closer to 6 percent to more appropriately reflect the benefits and risks of investing in a utility.

“We’re not asking for a handout. I don’t want Rocky Mountain Power subsidizing me. I just want to be able to compete. I just want to be able to make a living.”

— Jason Thornock

A utility’s return on equity is misunderstood, Eskelsen said, and functions more like a ceiling than a guarantee. Because utilities must “open our books to utility commissions,” who judge whether the company has spent prudently, they have a “powerful incentive” not to exaggerate their costs, he said. A commission disallowing a utility’s costs cuts profits for utility shareholders, he added.

Back in Teichert’s truck, he and Thornock laughed at the fantasy of getting a guaranteed profit on cattle and crop purchases. “I think that’s why there’s such a huge blowback from these utilities on net metering,” Thornock said. “They can see that if we let these guys produce their own power, they’re going to see right through all the nonsense.” 

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“And I don’t blame them,” he continued. “If I was in their shoes, man, that’s crazy money—and they’re protected by the government to do it.”

Staying Alive

For their way of life to remain sustainable for themselves, their kids and grandkids, Wyoming needs to either increase the net-meeting cap or change how it regulates utilities “so we can have something fair,” Teichert said.

But he and Thornock see many of Wyoming’s representatives as too deferential to utilities, and neither of them has much faith that the state will overhaul the system.

While it is not unusual for politicians in Wyoming to accept donations from sectors they regulate, at least one member of the Wyoming Senate has close professional ties to a utility. Dan Dockstader, a state Senator representing Teton and Lincoln counties, which includes Cokeville, is a board member of Lower Valley Energy, an electric cooperative. 

As last year’s net-metering bill came up for a vote in the Senate, Dockstader amended the bill to exempt electric utility co-ops from Public Service Commission oversight when it came to setting net-metering customers’ rates. The commission now has “limited jurisdiction over eighteen retail rural electric cooperatives,” according to its website.

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Rocky Mountain Power transmission lines run across both Teichert’s and Thornock’s property, and there may soon be more here if the utility decides to run its Gateway West transmission project through this corridor.Rocky Mountain Power transmission lines run across both Teichert’s and Thornock’s property, and there may soon be more here if the utility decides to run its Gateway West transmission project through this corridor.
Rocky Mountain Power transmission lines run across both Teichert’s and Thornock’s property, and there may soon be more here if the utility decides to run its Gateway West transmission project through this corridor.

The amendment didn’t sit well with Thornock. “[Dockstader is] representing Lower Valley Energy, he’s not representing the people who are using the power,” he said.

“I was representing the interests of the Wyoming Rural Electric Association (WREA) with 14 electric power distribution cooperates and another three generation and transmission cooperates,” Dockstader said, in an email. “All efforts to pass legislation should include a balanced approach with the rural cooperatives.” 

Those who have been trying to find a way to raise Wyoming’s net-metering cap agree that utilities hold a lot of sway with lawmakers in Cheyenne.

“We watched numerous amendments chip away at the original intent of the bill, to the point where we realized if it passed it would actually be a step back for rooftop solar deployment in Wyoming,” said John Burrows, climate and energy director for the Wyoming Outdoor Council.

“Utilities have established, professional lobbyists,” he continued. “They lobbied quite aggressively on this issue and I suspect that that had an impact on where the bill went.”

Moving forward, net-metering supporters are trying to resolve their differences with utility companies through a third-party facilitator before introducing another bill, according to Burrows. 

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“Net metering still needs to happen,” Thornock said. Other energy sources, like small modular nuclear reactors that can generate power without emissions, but rely on unproven technologies, intrigue him—but he worries they’ll also be hobbled by the kinds of problems plaguing net metering. “If we don’t get this net-meeting stuff figured out we’re not going to be able to take advantage of the technology that’s coming,” he said. 

Clouds shrouded the high sun over Cokeville when Teichert dropped Thornock off at his house around noon. Cruising around his hometown, where he once taught middle school English, Teichert pointed out about half a dozen homes sporting rooftop solar panels. As the cost of living goes up, his 91-year-old mother’s house may be next. 

“At some point, my mom’s gonna have to choose between, do you turn on the power or do you buy groceries?” he said.

Rising costs, including for electricity, pose a similar dilemma to his business. “If it gets to the point where you can’t afford to ranch, our only option is to start selling 35-acre parcels,” he said.

Eventually, Teichert navigated toward the mountains. He slowed to admire the clarity of a creek, pulled over to gush over the ski slopes just outside of town and spoke eloquently about Cokeville’s history as an energy hub. But on his way home, he saw ranchland that had been carved up and sold to developers, and his eyes winced with angst. He kept driving.

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Wyoming

Penn State wrestling wins 75th straight dual meet by beating Wyoming 40-7: Full results

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Penn State wrestling wins 75th straight dual meet by beating Wyoming 40-7: Full results


Penn State beats Wyoming 40-7

12/13/2025 08:30:01 PM

Penn State won its 75th consecutive dual meet by beating Wyoming 40-7 on the road Saturday night. The Lions won eight of 10 bouts, including four victories by fall.

Penn State returns to the mat next Saturday in Nashville. The Lions wrestle North Dakota State and Stanford at the Collegiate Wrestling Duals. If they win both, they will pass Oklahoma State for the Division I record for most consecutive dual victories with 77.

Here are the full results from Saturday night:

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125 pounds: No. 2 Luke Lilledahl (So.), Penn State TF Sefton Douglass, Wyoming, 18-3 (3:26) (PSU 5-0)
133 pounds: No. 10 Marcus Blaze (Fr.), PSU F Luke Willochell, Wyoming (3:39) (PSU 11-0)
141 pounds: Nate Desmond (Fr.) Penn State d. John Alden, Wyoming, 11-4 (PSU 15-0)
149 pounds: No. 1 Shayne Van Ness (Jr.), PSU F No. 30 30 Gabe Willochell, Wyoming, 2:54 (PSU 20-0)
157 pounds: No. 15 PJ Duke (Fr.), Penn State F No. 23 Jared Hill, Wyoming, 4:09 (PSU 26-0)
165 pounds: No. 1 Mitchell Mesenbrink (Jr.), PSU F Sloan Swan, Wyoming, 2:00 (35-0 PSU)
174 pounds: No. 1 Levi Haines (Sr.), Penn State TF No. 28 Riley Davis, Wyoming, 18-1 (4:50) (PSU 37-0)
184 pounds: No. 4 Rocco Welsh (So.), PSU d. No. 12 Eddie Neitenbach, Wyoming, 4-1 (PSU 40-0)
197 pounds: No. 2 Joey Novak, Wyoming md. Connor Mirasola, 10-2 (PSU 40-4)
285 pounds:  No. 10 Christian Carroll, Wyoming d. No. 11 Cole Mirasola, 10-4 (PSU 40-7)

FINAL: PSU 40, Wyoming 7



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