Tag Archives: New York Public Service Commission
New York Rejects Offshore Wind’s Request to Raise Rates
Offshore wind developers are reevaluating some New York projects after regulators rejected higher rates by Equinor ASA, Orsted A/S and others that would have added as much as $12 billion in costs. Developers planning to build more than 4 gigawatts of wind-power capacity off Long Island must abide by existing contracts to deliver power, the New York Public Service Commission unanimously ruled during a meeting Thursday. The ruling is the latest blow to the US offshore wind industry already contending with inflation and supply-chain issues. The future of projects such as Orsted’s Sunrise Wind is now in question after Thursday’s decision. >>click to read<< 17:06
