Just The News: East Coast wind projects are in jeopardy after a decision by New York regulators Thursday to deny requests from renewable energy developers to charge customers billions of dollars more.
Offshore wind developers say they have have been struggling against record inflation, supply chain issues, and interest rate hikes. Facing these pressures, Orsted, BP, and Equinor and other renewable developers requested that contracts for four offshore projects and 86 land-based projects be renegotiated, according to Reuters.
The offshore developers asked the New York Public Service Commission to alter its long term contracts and raise purchase prices to a level that would have let them collect an additional $38 billion from ratepayers.
The commission said that granting the requests would have added as much as 6.7% to residential customers’ monthly energy bill in a state that already pays some of the highest rates in the country.
Orstead CEO David Hardy told Reuters that the viability of a 924-megawatt offshore project is “challenged” by the state decision to deny the request. more
Huh. Wind power isn’t free electricity. Who knew?
And the whales will thank you to shut this shit down
The instant subsidies run out windmills are abandoned
Fact is that wind energy is a major profiteering scam, doing nothing more than collecting money from the unsuspecting and gullible.
Fact is those ‘wind projects’ are nothing more than profiteering enterprises and are totlly useless. Major scam.
Fact is those ‘wind projects’ are nothing more than profiteering enterprises and are totally useless. Major scam.
The pin of reality is going to burst Bidenbubbleconomics sooner rather than later.
“You don’t need a weatherman to know which way the wind blows” or to know that sometimes it doesn’t blow at all.