Overview of 2011 study of renewable energy and energy efficiency portfolio standard (REPS), which concluded that offshore wind is one of North Carolina's most plentiful renewable resources, but also one of the most costly (39,000 MW technical potential; 14,000 MW practical potential; nearly $200/MWh levelized cost in 2011).
The report reviewed the costs and benefits associated with recent administrative, regulatory, and legislative changes related to electricity, including their impacts on rates and bills of electricity customers and their impact on economic development in the state. Renewable and alternative energy, including offshore wind, were found to provide ratepayer benefits outweighing the added cost of incentives for these resources resulting from wholesale market price reductions due to introduction of additional generation. At $328 million, the ratepayer benefits were projected to be three times the $111 million cost of implementing these renewable and alternative energy initiatives.
Public Service Commission (PSC) staff recommend that the state agencies direct Delmarva (DPL) to negotiate with both Conectiv and Bluewater for a hybrid energy supply that combines a 200-300 MW offshore wind farm with a 150-200 MW synchronous condenser combined cycle gas turbine in Sussex County.
Staff recommend that the state agencies deny all of the long-term generational proposals under the term sheets: the proposal outlined in the Bluewater Wind term sheet deviates from its original bid proposal; both NRG's and Conectiv's proposals under the term sheets are structured as an element of the Bluewater Wind project. The Appendix includes the Independent Consultant's assessment of the term sheets, which concluded that the Bluewater Wind price adjustment formula imposed large risks on Delaware ratepayers and was not commercially reasonable.
Cover letter to the June 2008 Power Purchase Agreement (PPA) between Delmarva Power & Light (DPL) Company and Bluewater Wind LLC. Summarizes significant differences between June 2008 PPA and December 2007 PPA proposal.
Original signed 20-year, power purchase agreement (PPA) that provides for an initial price of $235.75.MWh in the first year, subject to 3.5% annual escalations. Deepwater Wind's wind farm will have a nameplate capacity not to exceed 30MW.
The Department proposes to implement the long-term contract provisions of the Green Communities Act through draft regulations attached to this order.
The order summarizes public comments received under the Department of Public Utilities' (DPU) proposed rulemaking on long-term contracts for renewable energy. The DPU will make fact-based decisions on a case-by-case basis in order to maintain sufficient flexibility in reviewing long-term contracts for renewable energy. Prior to initiating a solicitation for long-term contracts for renewable energy, a distribution companyﾒs timetable and methods for solicitation and contracting shall be subject to review and approval by the Department.
In this Order, the Department of Public Utilities (DPU) amended and adopted emergency regulations to allow solicitations for long-term contract proposals for renewable energy generation. The Department eliminated the requirement limiting the availability of long-term contracts to only in-state renewable resources, in response to TransCanadaﾒs lawsuit challenging its constitutionality. The emergency regulations were to remain in effect for a period not to exceed three months.
The law enables an investor-owned utility to receive triple credit towards meeting Virginia's renewable energy portfolio standard (RPS) for purchases of offshore wind energy.