 |
|
| Events Jobs Contact Migration Stats Supplier Lists Municipal Aggregation |
|
Maryland Sets Prices For New Offshore Wind RECs Which Retail Suppliers Must Purchase
May 12,2017 The Maryland PSC awarded offshore wind renewable energy credits (ORECs) to two projects to be built off the coast of Maryland; specifically, to projects to be built by U.S. Wind, Inc. and Skipjack Offshore Energy, LLC, which collectively total 368 megawatts of capacity The PSC in its order specified the OREC price schedule and its duration, as well as the number of ORECs that the Qualified Offshore Wind Projects may sell each year, as follows: (1) US Wind: 913,845 ORECs per year at a price schedule equivalent to a levelized price of $131.93 per OREC (2012$) using a 1.0% price escalator, beginning on January 1, 2021 for a duration of 20 years; (2) Skipjack: 455,482 ORECs per year at a price schedule equivalent to a levelized price of $131.93 per OREC (2012$) using a 1.0% price escalator, beginning on January 1, 2023 for a duration of 20 years. Pursuant to Public Utilities Article § 7-704.2, each electricity supplier shall purchase from an escrow account established under the OREC program the number of ORECs required to satisfy the offshore wind energy component of the renewable energy portfolio standard under § 7-703(b)(12) through (17) of the PUA. As set forth in the PUA and COMAR, certain load is exempt from the OREC obligation No payment may be made for an OREC until electricity supply is generated by the qualified offshore wind project. Products (energy, etc.) from the offshore wind farms are to be sold into the PJM markets, and credited to ratepayers See the PSC's order here
|
Advertise here: Email retailenergyx@gmail.com |
|
Events
Jobs
Contact
Migration Stats
Supplier Lists
Municipal Aggregation
About
Disclaimer
Privacy
Terms of Service
Home |
Developed by: Avidweb Technologies inc. |