Deepwater is up in Rhode Island trying to sell offshore wind power. He wants double what Delmarva will pay Bluewater and a higher yearly increase. The PUC up there questioned whether that was reasonable. Looks like he agrees with some of the local critics of Bluewater (such as myself) that it is not likely to happen. I expect them to try to get Markell to reach into the taxpayer’s pockets.
Here are some excerpts from Block Island Times, a local paper, taken out of context of course:
Deepwater Wind CEO Bill Moore testified that many in the industry were concerned that Bluewater would have difficulty bringing in the project at that price. “Most don’t think they can pull it off.”
“Deepwater consultant David Nickerson further explained that the Delaware price was arrived at partly through some regulatory sleight of hand. The lower price, he said, was reached by offsetting costs with potential revenue coming from renewable energy credits that accompany renewable projects. The value attached to those credits was allowed to be inflated in Delaware, Nickerson suggested, providing the illusion of “an extra revenue stream,” which artificially brought down the apparent cost of the project.” (I did the highlighting)