June 14, 2023 –A top regulator in Rhode Island is raising concerns about the way offshore wind developers are seeking to renegotiate the financial terms of their projects, saying policymakers are facing a harsh choice between protecting the interests of ratepayers and promoting the generation of electricity considered vital in the battle against climate change.
Ronald Gerwatowski, the chair of the Rhode Island Public Utilities Commission and the state’s Energy Facilities Siting Board, made his comments at the end of a 2½-hour hearing on Monday dealing with SouthCoast Wind, a project that secured a power purchase agreement in Massachusetts that the developer is now seeking to terminate so it can rebid the project at much higher prices in a procurement slated for next year. The project is before Rhode Island regulators because it seeks to run a transmission line connecting the wind farm to Massachusetts via Rhode Island.