Reuters: Equinor, BP seek 54% hike in US offshore wind power price, filings show

[OKIsItJustMe]

Equinor, BP seek 54% hike in US offshore wind power price, filings show

August 31, 2023 10:44 AM EDT

OSLO, Aug 31 (Reuters) - Norway's Equinor (EQNR.OL) and its partner BP (BP.L) are seeking a 54% increase for the price of power produced at three planned offshore U.S. wind farms, according to a filing made by a New York state regulatory authority.

The two partners in recent years won the rights to build the Empire Wind 1, Empire Wind 2 and Beacon Wind wind farms off the New York coast, which have a combined capacity of 3,300 megawatts, capable of powering millions of homes.

However, in a petition filed with the New York State Public Service Commission in June this year, they requested enhanced offshore renewable energy credits compared with terms originally agreed.

"Application of Empire/Beacon's request would result in a 54% increase on average across its portfolio of projects," a document filed by the New York State Energy Research and Development Authority (NYSERDA) now showed.

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[getagrip_already]

1. So much for cheap wind power........ nt

[Think. Again.]

4. Massive corporate price-gouging...

...is nothing new.

[Bayard]

2. "Enhanced credits"

I guess that's one way of saying--our board members want a better return.

No. Don't get to change the terms.

[msongs]

3. avoid increases, cut executive pay by 80 per cent nt