October 15, 2023 — New York State power regulators denied petitions by offshore wind developers to charge customers billions of dollars more in future energy sales, a setback that could threaten the viability of four projects and the state’s ambitions for renewable energy sources.
In announcing the denial Thursday, the New York State Public Service Commission said it “opted to preserve the robust competitive bidding process that provides critically needed renewable energy resources to New York in the fairest and most cost-effective manner that protects consumers.”
“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,” said commission chair Rory M. Christian.
In its ruling the commission also turned down price increases for 86 land-based renewable energy projects. Granting the requests “outside the competitive procurement process would have resulted in as high as 6.7 percent increases for residential customers and as high as 10.5 percent for commercial or industrial customers,” according to the commission.