RI approves wind farm project ..
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WARWICK, R.I. — The Rhode Island Public Utilities Commission on Wednesday approved a power purchase agreement for a proposed wind farm off the coast of Block Island, ruling over the objection of critics who slammed the arrangement as a sweetheart deal meant to benefit one developer.
Attorney General Patrick Lynch vowed to appeal the decision to the state Supreme Court, saying in a statement that the deal makes ratepayers buy "grossly overpriced electricity."
The agreement between Deepwater Wind, LLC, a New Jersey-based developer, and National Grid, the state's dominant utility, involves a proposed eight-turbine pilot project connected by a transmission cable to the mainland.
The three-member commission, a quasi-judicial body, approved the agreement after weighing economic and environmental benefits and whether the terms were reasonable for ratepayers. The 20-year agreement calls for National Grid to buy the energy generated from the wind farm at 24.4 cents per kilowatt hour.
Deepwater Wind CEO Bill Moore said in a statement that the company was pleased with the decision, which he said solidifies "Rhode Island's leadership position in offshore wind development."
The commission unanimously agreed that wind energy could reap an environmental benefit but split 2-1 on other issues. Commissioner Mary Bray repeatedly voiced skepticism, saying the agreement would prove a long-term detriment to the economy by hurting ratepayers and small businesses that are already struggling.
"Would any reasonable person invest a substantial amount of money into something they know will at best cost three times what they will possibly get out of it?" Bray asked. "That is what we have here."
The commission in March rejected a similar agreement as too costly for ratepayers.
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Don't know wether to laugh or cry at the terms of this deal ..
Triff .. |
