New York rejects wind subsidy pleas

Regulators in New York have rejected pleas from the wind industry to raise subsidies for four offshore wind and 86 onshore renewable energy developments.

The New York State Public Service Commission has rejected the plan, which it said would involve increasing consumer energy bills by billions of dollars. The offshore wind projects are Equinor and BP's 816MW Empire Wind 1, 1.3GW Empire Wind 2, and 1.2GW Beacon Wind; Ørsted and Eversource's 880MW Sunrise Wind.

The developers have argued that the project costs have been increased by supply chain disruption, inflation and rising interest rates.

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