Fishermen’s Energy Files an Appeal on NJ BPU’s Decision

Fishermen’s Energy filed an appeal to the New Jersey Board of Public Utilities (BPU), which rejected the construction of the company’s offshore wind project last month, claiming that the BPU had made its decision based on an error, the Associated Press informs.

Namely, Fishermen’s Energy says that the project was evaluated with a price of power equaling to USD 263 per MWh instead of USD 199.17 per MWh, the price proposed by the developer.

“At the mistaken higher $263/MWh rate, the BPU claims the project failed to meet the net benefits test. If the BPU had evaluated the project based on the actual proposed rate of $199/MWh even the BPU’s own consultants Boston Pacific agreed the project passed the net benefit test,” the company stated after the BPU’s decision.

The BPU rejected Fishermen’s Energy Atlantic City Windfarm (FACW) with an explanation that the project poses a large financial risk and that electric bills would have been a burden to consumers, since various subsidies and federal grants would be required to minimize them.

Offshore WIND Staff, April 9, 2014; Image: fishermensenergy