The Maryland Public Service Commission has approved US Wind’s application for additional offshore renewable energy credits, which will support the company’s buildout of wind projects off Maryland’s coast.
Last year, Gov. Wes Moore signed into law House Bill 1296, which, among other things, allows qualified offshore wind developers to apply for outstanding offshore renewable energy credits, or ORECs. And last week, the Maryland Public Service Commission awarded additional credits to the state’s only applicant, US Wind.
The agency reports it evaluated a number of criteria to determine whether the company’s proposal was in the public interest, as well as an analysis of the bill’s impacts on Maryland’s utility ratepayers.
“Our decision will support the expansion of renewable energy generation in Maryland, and advance the development of a project which will produce significant economic, environmental, and health benefits to our state, including assuring our future energy needs,” Frederick H. Hoover, chair of the Public Service Commission, said in a statement. “While questions have arisen regarding offshore wind development in a number of places, the Commission’s analysis through the independent consultant and our hearings demonstrated the importance of this project in providing emission-free energy, jobs, economic opportunity and cost benefits to Maryland ratepayers.”
Last year, Danish company Ørsted announced it would relinquish the ORECs it had been awarded for its Skipjack Wind project, which was set to bring a 966-megawatt project off the Delmarva coastline.
To that end, Gov. Wes Moore last May signed legislation – cross-filed as House Bill 1296 and Senate Bill 1161 – to require the Maryland Public Service Commission to open an offshore wind proceeding limited to evaluating revised project schedules, sizes, or pricing for a previously approved Round 2 offshore wind project and to review similar requests for Round 1 offshore wind projects.
In short, the legislation allows qualified offshore wind farm developers to apply for outstanding ORECs and streamlines the approval process for revised offshore wind projects.
OREC / Offshore Renewable Energy Credits. Guess who is actually supplying the money for these credits. Us, Maryland residents !!! Our great governor is giving our money away to foreign companies. I wonder how much kickback money he is receiving.