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Senator Schepisi Introduces Bill to Shield Ratepayers from Offshore Wind Project Costs

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the staff of the Ridgewood blog

Trenton NJ, Senator Holly Schepisi (R-39) introduced a legislative initiative aimed at shielding utility customers in New Jersey from shouldering the financial burdens associated with subsidies for future offshore wind projects.

In July 2023, Governor Murphy signed a bill giving a tax break to Ørsted, a Danish offshore wind developer, for two energy projects off the New Jersey coastline. The legislation redirected up to $1 billion that would have been earmarked for utility ratepayers. However, in late October, Ørsted walked away from the projects due to rising costs and supply chain issues. In an effort to double down on their misguided energy priorities, the Board of Public Utilities awarded an offshore wind project to a new company and closed a solicitation for more wind development as recently as last week.
“High inflation, rising interest rates, and ongoing supply chain issues continue to jeopardize the future of offshore wind. We need to ensure that offshore wind projects are environmentally safe and economically viable, so that we don’t have to subsidize wind farm developers on the backs of New Jersey’s utility customers,” said Schepisi.
The bill, S-3078, seeks to prevent the Board of Public Utilities (BPU) from collecting or pre-collecting any Offshore Wind Renewable Energy Certificate surcharge from ratepayers for future offshore wind projects, regardless of the intended recipient of the subsidy.
“New Jerseyans don’t need yet another surcharge added to the long list of taxes and fees they encounter every day,” said Schepisi . “Our overtaxed residents are burdened with ever increasing utility bills and these funds were intended to provide some relief to these taxpayers. If offshore wind power companies need massive government subsidies in order to operate, then they should seriously reconsider their business model.”
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3 thoughts on “Senator Schepisi Introduces Bill to Shield Ratepayers from Offshore Wind Project Costs

  1. Thanks for reporting. The liberal newspapers will not cover this story

    1. I have a summer home in Massachusetts.
      Buried deeply with the ‘supplier side’ when choosing alternative suppliers, there is a MANDATE that 59 percent of electricity sold by any entity in that state MUST be renewable. Last year it was 40 something percent. SO no matter what the price, this scam will be sold to ratepayers since suppliers MUST obey the law. So its not voluntary. Grab your ankles

  2. Our resident liberal narrative downvoter is busy on this one.

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