In February, the Port of Albany said the costs to build a wind tower factory have grown to $604 million from earlier estimates of $350 million, necessitating more aid. This month, wind developers Equinor and BP said they would need to renegotiate contracts in light of inflation. It was not immediately clear what impact these increases could have on consumer electricity prices. The strike price represents a base line that power generators are guaranteed for their electricity. And NYSERDA’s 64 percent estimate represents an average increase, weighted by the size of the projects, if all the increases were approved.
New York City and a consortium of big energy users accused offshore wind developers of “a concerted effort to avoid scrutiny” in their requests for bigger subsidies from ratepayers, filings with the state show. .“The Petitioners seek significant but unspecified increases to the amounts they would be paid by captive utility customers for previously-contracted [offshore wind projects], but a significant portion of the information that purportedly supports the requested relief is redacted and withheld from public review,” states a motion submitted to the state on July 27.
The fourth “Future Grid Challenge” round offers a total of $11 million to support technology for a reliable, modern energy system that will reduce costs and enable more renewable integration.
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