the staff of the Ridgewood blog
Albany NY , the New York State Public Service Commission denied petitions filed by a group of offshore wind developers and a state renewable energy trade association seeking billions of dollars in additional funding for four proposed offshore wind projects and 86 land-based renewable projects.
The petitions were submitted by Empire Offshore Wind LLC, Beacon Wind LLC, Sunrise Wind LLC and the Alliance for Clean Energy New York Inc. were seeking adjustment to renewable energy credit and offshore wind REC purchase and sales agreements entered with NYSERDA to address recent inflationary pressures that are impacting project economics.
The Public Service Commission found that the contract amendments were not in the best interest of the state’s ratepayers. On a monthly bill basis, granting the request to amend the executed contracts outside the competitive procurement process would have resulted in as high as 6.7% increases for residential customers and as high as 10.5% for commercial/industrial customers on monthly bills, depending on service territory and the level of relief provided, above what was already committed.
The American Clean Power Association (ACP) released the following statement from ACP CEO Jason Grumet after the New York State Public Service Commission (NYSPSC) denied petitions requesting inflation adjustments for wind and solar energy projects in New York:
“With one shortsighted decision, the NYSPSC has thrown New York’s environmental and clean energy future into peril. Absent a robust offshore wind industry, it will not be possible for New York State to achieve its climate or environmental justice goals. Moreover, critical economic benefits from new manufacturing facilities and the revitalization of ports will be squandered along with the creation of good paying union jobs. New York State has been a national leader in the clean energy transition. We urge New York State to maintain its clean energy commitment and reconsider this decision.”
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