Green Grift Alert: Rebids on NJ Wind Projects Could Cost Ratepayers, Oh, Like…BILLIONS MORE

I thought I’d just throw this out here in case anyone was thinking of moving out of New Jersey.

Sooner might be better than later if your verminous governor and his wind industry cronies have their way.

Just because when you agree contractually to pay a price for something and schmaybe prices change, but then you can’t change what you agreed to pay because of “contract,” that doesn’t mean it works like that for everyone.

Particularly if you’re in the offshore wind industry. What’s on a piece of paper you sign with the cities, counties, utilities, and state you’re dealing with doesn’t matter for beans. Wind developers can pack up and go home when things become financially fugly for them, and that’s exactly what they’ve been doing in many instances. Often they pull out of projects when their threats to public utility boards go unheeded, and pressure from desperate Green grift enablers like rodential NJ governor Phil Murphy are ignored in the face of overwhelming public pressure, which is what happened with Orsted’s project off the southeastern coast of the state.

But much like the murderous teen summer camp monster, whom everyone thinks is dead but still manages one last burst through a plate-glass window at the end of the movie, wind companies never actually go home. They circle in the air like buzzards, waiting for an opportunity to drop back down onto the roadkill and pick bones.

This is what residents of the Garden State are facing right now, and they’d better hustle to stick a stake in. Eight shore towns are already “urging” public utility officials to “deny” what a developer is asking for, but “urging” isn’t gonna cut it.

A group of coastal New Jersey towns are urging state officials to reject any attempts by an offshore wind developer to rebid its power project and increase the cost of electricity.

Across the nation, offshore wind developers have been renegotiating contracts, citing rising costs from supply chain disruptions, high interest rates and inflation.

Last week, officials from eight towns – Long Beach Township, Beach Haven, Ship Bottom, Barnegat Light, Surf City, Harvey Cedars, Brigantine and Ventnor City – sent a letter to the state Board of Public Utilities urging officials there to deny any attempt by Atlantic Shores Offshore Wind to rebid its existing New Jersey power project.

The company wants a whale  (DYSWIDT) of an increase compared to what they’d agreed previously in order to continue building this abomination. Judging by how the utility board has already sold NJ ratepayers down the river this year in rebids, these cities – and every NJ customer – should be on the horn, STAT, DEMANDING the utility board do its due diligence for THEM, vice roll-over for the cultists.

…Offshore developers earn one OREC [offshore wind renewable energy certificates] for each megawatt-hour of electricity produced through wind turbines. Each OREC price in New Jersey is set in an agreement between the state Board of Public Utilities and the wind developer and is calculated based on federal and state tax credits, operational costs, and electricity customer impacts, among other factors.

I know – I’m dreaming. But my God, the numbers they’re jacking the OREC awards up to after “rebidding” are gobsmacking.

In 2021, Atlantic Shores Offshore Wind was awarded an OREC price beginning at $86.62 per megawatt-hour in year one of its 20-year contract, increasing 2.5% annually, according to Board of Public Utilities documents.

…Earlier this year, the utilities board approved two more offshore wind projects and awarded OREC agreements at far higher rates. Attentive Energy Two agreed to an OREC price of $131 per megawatt hour in the first year of the project with 3% each year afterward. Leading Light Wind will receive  OREC price of $112.50 per megawatt hour in year one, then 2.5% increase each year following.

The shore towns are at the forefront of the fight…

…The New Jersey shore towns, in their letter to the utilities board, said they worried that if Atlantic Shores rebid its current project and is awarded a higher OREC price, that New Jersey ratepayers would face billions of dollars of additional electricity costs over the length of the project.

…against an administration that is determined to destroy our energy infrastructure…

…Despite the rising costs for offshore wind energy, the federal government continues to approve wind power projects. On Tuesday, the Biden administration announced approval of the nation’s eighth offshore wind project south of Martha’s Vineyard, Massachusetts, called New England Wind.

…and take as much of Americans’ standard of living with it when it goes as they possibly can.