NJ Renewable Energy Costs

Wind power generated electricity is supposed to be cheaper than electricity from either nuclear or natural gas.  Here are three recent articles concerning renewable energy costs to the consumer and some of the comments concerning costs

The electricity produced by the Ocean Wind project is expected to cost $98.10 per megawatt hour with a 2% annual escalator over 20 years, much more than what customers pay for nuclear and other more conventional power plants, Patterson noted.

 

The state’s aggressive promotion of offshore wind projects has been backed by clean-energy advocates but questioned by business interests because the projects depend on subsidies from electric utilities to make them financially viable.

 

The decision to delay the analysis again means the board is likely to make decisions on key components of the Murphy administration’s clean-energy program before knowing what the costs will be for ratepayers and businesses, who will subsidize many of those efforts. Murphy wants to transition to 100% clean energy by midcentury.

 

The BPU has not provide estimates of the impact of Ocean Wind costs and follow up project costs. Why not?  The BPU claims the costs must be recalculated due to the pandemic? Why?  If the costs have significantly changed, then shouldn’t decisions based on the costs be deferred until accurate costs are determined.  That is not necessary according to the BPU.  This means the costs are basically irrelevant to the decisions the BPU will make.

Are the final renewable energy costs so high that, if published, the Ocean Wind and follow up 7,500 MW projects are in question?  What if the electricity cost is very high, what recourse will the rate payers have?

It is time the legislators demand cost estimates of the delivered Ocean Wind electricity and other renewable energy projects be made, publicly reviewed and discussed. This must be done  before additional contracts are signed and decisions made?

 

PSEG says it will take 25% stake in Ørsted Ocean Wind project

Developers bid to build more wind farms off NJ coast, tripling capacity

State drags feet on releasing clean-energy costs — again

 

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