Senate Finance Committee Gives Green Light for Maryland Offshore Wind Bill (USA)

The Senate Finance Committee voted 7-4 in favor of the Maryland Offshore Wind Energy Act of 2013 (Senate Bill 275) on Tuesday, the CapitalGazette.com reports.

This is not an unexpected move, as the offshore wind bill, proposed by Governor Martin O’Malley, gained massive public support this year, along with the key Senate figures backing up this energy legislation.

After clearing the Senate Finance Committee, which blocked the similar bills from passing in the past two years, the offshore wind bill’s next stop is the full Senate.

Governor O’Malley’s bill would establish a mechanism to incentivize the development of a 200 megawatt offshore wind facility and a regulatory framework that will allow further projects to interconnect in Maryland. It would limit rate increases for residential customers to USD 1.50 per month and businesses to 1.5%.

If approved, the Maryland Offshore Wind Energy Act would be effective from June 1.

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Offshore WIND Staff, February 27, 2013; Image: maryland.gov