Press Releases

February 24, 2012 Deepwater Wind Statement on BOEM’s Announcement of Wind Energy Area for Rhode Island and Massachusetts October 20, 2011 Deepwater Wind Signs Agreement with Siemens to Buy World's Most Advanced Offshore Wind Turbine October 7, 2011 Deepwater Wind Submits Plan for Nation's First Regional Offshore Wind Farm to Supply Multiple East Coast States September 22, 2011 Block Island Wind Farm Project Advances with Cutting-Edge Marine Surveys, Expanded Team September 15, 2011 Deepwater Wind to Propose Offshore Wind Farm and Inter-State Transmission System to New York Power Authority August 17, 2011 Deepwater Wind Heralds Announcement of Federal Call for Information for Rhode Island Offshore Wind Development July 1, 2011 RI Supreme Court Upholds Block Island Wind Farm Power Contract

Deepwater Wind in the News

May 7, 2012 William Moore: National Ocean Policy Makes Smart Business Sense January 4, 2012 US eyeing Euro offshore wind, Long Island still on the fence October 12, 2011 Deepwater to Build First U.S. Offshore Wind Farm October 7, 2011 RI Firm Submits Offshore Wind Farm Proposal October 3, 2011 Poll Shows Majority of Islanders Support Offshore Wind February 10, 2011 Developer Considers Building 1,000-Megawatt Offshore Wind Farm February 7, 2011 Deepwater Wind Statement on U.S. Department of the Interior and Department of Energy’s “A National Offshore Wind Strategy: Creating an Offshore Wind Industry in the United States” News Archive »

Weighing the wind farm costs

As four days of hearings came to a close last Friday, state Public Utilities Commission Chairman Elia Germani posed the “$640 million question” to energy analyst Richard Hahn: are the terms and pricing of the power agreement between Deepwater Wind and National Grid “commercially reasonable?”

The 20-year contract would be for electricity generated by eight wind turbines proposed for within three miles of Block Island.

Hahn said the 24.4 cents per kilowatt-hour price, with annual 3.5 percent escalations, was high compared to other renewable projects he considered for comparison, excepting solar.

“But there’s the potential of other economic benefits to the state,” Hahn said. “Are those benefits worth the price?” He left the question hanging, and the PUC is scheduled to answer it March 30.

Hahn appeared on behalf of the Division of Public Utilities and Carriers. He submitted written testimony saying the agreed power price, when combined with the yet to be determined cost of a cable stretching from Block Island to the mainland, could bring above-market costs of nearly 500 million dollars to Narragansett Electric customers over the length of the 20 year contract. Read more…

PF 3-20 BI Times.pdf [752.48KB]

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