Power from offshore wind farms could flow by fall
The first-in-the-nation offshore wind project south of Martha’s Vineyard aims to be fully operational by this time next year.
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The first-in-the-nation offshore wind project south of Martha’s Vineyard aims to be fully operational by this time next year.
In recent weeks, the company approached Governor Maura Healey’s administration, saying the delay prompted big cost increases. As a result, both the House and the Senate inserted language into their respective supplemental budget bills that would allow Avangrid to recover cost overruns by passing them on to utilities and, ultimately, ratepayers if authorized by the Massachusetts Department of Public Utilities. The differences in the two spending bills now must be reconciled by House and Senate negotiators.
But an improving supply chain in the U.S. might help lower costs over time.
The Boston Globe reports that the cost of the critically important New England Clean Energy Connect project increased by over 50 percent to 1.5 billion dollars during the three years...
Operator: Welcome to Avangrid’s Second Quarter 2023 Earnings Conference Call [Operator Instructions].