New York’s state government rejected requests from a group of offshore wind energy developers who asked to renegotiate existing contracts amid rising prices and inflation.
The New York State Public Service Commission (NYPSC), the state’s main regulator overseeing electric, gas and water utilities, issued the decision late last week, saying it would “preserve the robust competitive bidding process that provides critically needed renewable energy resources to New York.” The energy developers had requested billions of dollars in additional taxpayer funding for four proposed offshore wind projects and 86 onshore green energy projects.
“The requested amendments to the contracts would have provided adjustments outside the competitive procurement process; such relief is fundamentally inconsistent with long-standing Commission policy,” Commission Chair Rory Christian said in a statement.
“The Commission has repeatedly stated that competition in the procurement process is necessary to…