BPU releases draft rules for funding offshore wind in New Jersey #NJ

By National Wind Watch The state Board of Public Utilities released a draft of its proposed rules for offshore wind projects Friday, laying out what offshore wind energy certificates (ORECs) will pay for and how they will be funded. The ORECs will reimburse developers for the construction and 20-year operation of the wind farms that win board approval. They will be funded by ratepayers, and all money the wind farms make from selling electricity into the grid will be returned to ratepayers, according to . . .

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