BP & Equinor Demand 54% Hike In Offshore Wind Power Price Increases

September 1, 2023 Mid Atlantic

BP PlcBP and partner Equinor ASA EQNR are demanding a 54% hike in electricity prices produced at three offshore wind farms in the United States, per a Reuters report. The companies obtained the rights to develop the Empire Wind 1, Empire Wind 2 and Beacon Wind farms offshore New York. Several projects were awarded, and spikes in inflation forced energy companies to hedge equipment and labor at much higher prices than expected. The strike price for Empire Wind 1 would rise from $118.38 per megawatt hour (MWh) to $159.64 per MWh and for Empire Wind 2 from $107.50 per MWh to $177.84 per MWh. Beacon Wind would witness the strike price increase from 118.00 per MWh to 190.82 per MWh. >>click to read<< 11:29

Beacon Wind, BP and Equinor, Demand 54% Hike, Empire Wind 1, Empire Wind 2, new-york, offshore wind farms, Offshore Wind Power Price Increases

One Response to BP & Equinor Demand 54% Hike In Offshore Wind Power Price Increases

Brick Wenzel says:

September 1, 2023 at 5:03 pm

Nobody should be giving these companies anymore money to develop “Empire Wind” Industrial Offshore Wind sites. BOEM has already acknowledged that these lease sites are a mistake. The location of Empire Wind is located in between and butts up against two shipping lanes entering and leaving New York. The hazards to navigation, issues concerning homeland security, the mitigation costs from environmental impacts and loss of fisshing grounds make these sites financially unobtainable without excessive contributions beyond what is currently being requested.

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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