The Legislature’s power consultants say it is smart to penalize CommonWealth Wind and Mayflower Wind in the event that they default on their not too long ago accepted energy buy contracts, however the lawmakers don’t need the penalties to incorporate a ban on participation in an upcoming offshore wind procurement.
The Home and Senate chairs of the Legislature’s Utilities, Telecommunications, and Vitality Committee say the state must stroll a fantastic line between penalizing the businesses however not penalizing itself.
The Division of Public Utilities on December 30 accepted energy buy contracts between the state’s three utilities and Commonwealth Wind and Mayflower Wind. Avangrid, the developer behind Commonwealth Wind, stated it couldn’t finance its venture with the prevailing phrases, and Mayflower, a three way partnership of Shell Vitality Ventures and Ocean Winds, stated it faces the same predicament.
Meet the Writer
Editor, CommonWealth
About Bruce Mohl
Bruce Mohl is the editor of CommonWealth journal. Bruce got here to CommonWealth from the Boston Globe, the place he spent almost 30 years in all kinds of positions protecting enterprise and politics. He lined the Massachusetts State Home and served because the Globe’s State Home bureau chief within the late Eighties. He additionally reported for the Globe’s Highlight Workforce, successful a Loeb award in 1992 for protection of conflicts of curiosity within the state’s pension system. He served because the Globe’s political editor in 1994 and went on to cowl shopper points for the newspaper. At CommonWealth, Bruce helped launch the journal’s web site and has written about a variety of points with a particular concentrate on politics, tax coverage, power, and playing. Bruce is a graduate of Ohio Wesleyan College and the Fletcher College of Regulation and Diplomacy at Tufts College. He lives in Dorchester.
About Bruce Mohl
Bruce Mohl is the editor of CommonWealth journal. Bruce got here to CommonWealth from the Boston Globe, the place he spent almost 30 years in all kinds of positions protecting enterprise and politics. He lined the Massachusetts State Home and served because the Globe’s State Home bureau chief within the late Eighties. He additionally reported for the Globe’s Highlight Workforce, successful a Loeb award in 1992 for protection of conflicts of curiosity within the state’s pension system. He served because the Globe’s political editor in 1994 and went on to cowl shopper points for the newspaper. At CommonWealth, Bruce helped launch the journal’s web site and has written about a variety of points with a particular concentrate on politics, tax coverage, power, and playing. Bruce is a graduate of Ohio Wesleyan College and the Fletcher College of Regulation and Diplomacy at Tufts College. He lives in Dorchester.
Showing on The Codcast, Sen. Michael Barrett of Lexington and Rep. Jeffrey Roy of Franklin stated they had been sympathetic to the challenges the wind farm builders are going through, together with rising inflation and rates of interest, provide chain difficulties, and the struggle in Ukraine.
“The world is a unique place,” Barrett stated. “The struggle in Ukraine couldn’t have been anticipated. The affect on pure gasoline costs in Europe and the attraction of LNG towards Europe and away from New England which depends on LNG [liquefied natural gas] for winter heating couldn’t have been solely anticipated. Provide chain disruptions are actual.”
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