New York Delivers Major Blow to Green Energy Development

Contact Your Elected Officials
The Epoch Times Header

New York’s state government rejected requests from offshore wind energy developers, dealing a blow to the White House’s climate plans.

New York’s state government rejected requests from offshore wind energy developers who asked to re-negotiate contracts amid elevated inflation and rising costs.

The state denial could force some developers whose contracts may not cover project costs to scrap plans to sell power to customers in New York and cancel or delay projects, as happened with some offshore wind projects in Massachusetts. Developers were looking to renegotiate contracts on four offshore wind and 86 land-based renewable projects.

Construction of renewable projects is key to the climate-related agenda of President Joe Biden’s administration and several states, including New York, in their attempts to rely more on alternative sources of energy other than oil and gas. Developers sought to renegotiate the contracts to include inflation adjustments, among other cost increases, because some agreements no longer cover the rising cost of building and financing projects in the current high inflation and high interest rate environment.

The New York State Public Service Commission (NYPSC), the state’s main regulator over utilities, rendered its decision rejecting the firms last week and said that it wants to “preserve the robust competitive bidding process that provides critically needed renewable energy resources to New York.”

“The requested amendments to the contracts would have provided adjustments outside the competitive procurement process; such relief is fundamentally inconsistent with long-standing Commission policy,” Commission Chair Rory Christian said in a statement.

“The Commission has repeatedly stated that competition in the procurement process is necessary to protect ratepayers and provides the soundest approach to mobilize the industry to achieve our critical State goals dependably and cost-effectively, and we do so again through today’s action,” Mr. Christian continued.

The request would have led to a 6.7 percent increase in residential utility costs and 10.5 percent for commercial customers on their monthly bills, state officials said. The companies that filed the petition include Empire Offshore Wind LLC, Beacon Wind LLC, Sunrise Wind LLC, and the Alliance for Clean Energy New York.

Byย Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

250 Countdown

Those 56 intrepid men who signed put their very lives, honor and fortunes on the line. There was no auto-quill to accommodate their signatures.ย 

How the Senate Parliamentarian Changed the OBBB

An unelected bureaucrat does a important job in the U.S. Senate. Elizabeth MacDonough enforces senate rules on Trumpโ€™s โ€œOne Big Beautiful Billโ€.

Bioterror Roundup: CDC Director Nominee Is a Monster + New mRNA Pregnancy Studies

Bioterror Propaganda Roundup: The latest updates on the โ€œnew...

The Sacred Honor of the 56

Today we're celebrating the sacred honor of the 56 men who signed the Declaration of Independence.

Alligator Alcatraz: A Bold Step Toward Secure Borders

Alligator Alcatraz funded through FEMA, represents a decisive move by the Trump admin to address illegal immigration with efficiency and resolve.

New White House Faith Office Aims to Ensure US Is Beacon of Freedom for Others

The White House Faith Office wants to see the United States as the leader in advancing religious freedom, its faith director Jennifer Korn said.

Federal Reserve Rates Are Too High, Says Former World Bank Chief

Rates should be between 0.25 and 1.75 percent rather...

Newly Naturalized Citizens Say What American Freedom Means to Them

Nearly 820,000 people pledged allegiance to the United States and became naturalized citizens in 2024.

Noem Waives Environmental Restrictions to Fast-Track Water Barriers in Rio Grande

DHS Sec Kristi Noem waived federal environmental laws to fast-track construction of 17 miles of waterborne barriers in the Rio Grande in South Texas.

Trump Indicates Legislation for Hiring Illegal Aliens on Farms

Trump to allow illegal immigrants who work on farms to continue working to prevent unnecessary disruptions to farming across the country.

US Keeps Pressure on Chinese Goods Amid Vietnam Trade Deal

Transshippingโ€”rerouting goods through a third country to disguise the origin of the productsโ€”is a focal point of trade negotiations with Asian markets.

White House Report Reveals Top Earners, Staffers Working for No Salary

The Trump admin released its yearly report that shows the salaries for White House staffers, also revealing officials who arenโ€™t accepting salaries at all.

Transportation Secretary Urges Governors to Remove Political Messages From Crosswalks, Intersections

Duffy sent letters to governors, mayor of D.C., and gov of Puerto Rico urging them to remove political messaging from intersections and crosswalks.
spot_img

Related Articles