NJ Offshore Wind Farm Co. Appeals BPU's Denial Of Project
Law360, New York (April 8, 2014, 8:09 PM EDT) -- Fishermen's Energy LLC filed an appeal with the New Jersey Board of Public Utilities on Monday asking the agency to reconsider its rejection of the developer's Atlantic City offshore wind farm proposal last month, saying the agency's decision was based on misunderstandings.
The developer said the board improperly reviewed its petition by using an outdated offshore renewable energy certificate price of $263 per megawatt-hour instead of the developer's initial proposed OREC price of $199 because Fishermen's Energy can't guarantee that it will receive two federal subsidies — an investment tax credit and a U.S. Department of Energy grant — for the...
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