{"id":282409,"date":"2023-10-08T11:42:16","date_gmt":"2023-10-08T09:42:16","guid":{"rendered":"https:\/\/climatescience.press\/?p=282409"},"modified":"2023-10-08T11:42:18","modified_gmt":"2023-10-08T09:42:18","slug":"four-ny-offshore-projects-ask-for-almost-50-price-rise","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=282409","title":{"rendered":"Four NY offshore projects ask for almost 50% price\u00a0rise"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

We already know that some developers have pulled out of offshore wind projects off the US NE coast, as they are not viable.<\/strong><\/p>\n\n\n\n

Here is more news on developments off the New York coast:<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The developers of four offshore wind farms in New York are seeking average price rises of almost 50% on their offtake agreements.<\/em><\/p>\n\n\n\n

The New York State Energy Research and Development Authority (NYSERDA) calculated how the companies\u2019 requested adjustment would impact strike prices, and found the average across all four was 48%.<\/em><\/p>\n\n\n\n

The projects involved are Orsted and Eversource\u2019s 924MW Sunrise Wind project, along with Equinor and bp\u2019s 816MW Empire Wind 1, 1260MW Empire Wind 2 and 1230MW Beacon Wind.<\/em><\/p>\n\n\n\n

Sunrise Wind previously agreed a price of $110.37 per MWh, and is now seeking a $139.99 price instead, a 27% increase, according to NYSERDA.<\/em><\/p>\n\n\n\n

Empire Wind 1 requested increasing its strike price from $118.38 to $159.64, a 35% increase, while Empire Wind 2 asked for its $107.50 original price to be increased to $177.84, a 66% increase.<\/em><\/p>\n\n\n\n

Meanwhile, Beacon Wind wants its $118.00 previously agreed price ramped up to $190.82, 62% more.<\/em><\/p>\n\n\n\n

The three Equinor and bp projects combined have an average price rise of 55%.<\/em><\/p>\n\n\n\n

The four projects are seeking a number of reliefs, including retroactively applying an inflation-adjustment mechanism similar to one included in New York\u2019s recent third offshore wind solicitation, along with interconnection cost adjustments, though the exact specifications differ between the developers.<\/em><\/p>\n\n\n\n

According to NYSERDA, including the inflation adjustment mechanism alone would raise prices for the four projects by an average of 31% (25% for Sunrise Wind and Empire Wind 1, 37% for Empire Wind 2 and Beacon Wind).<\/em><\/p>\n\n\n\n

https:\/\/renews.biz\/87865\/four-ny-offshore-projects-ask-for-almost-50-price-rise\/#:~:text=Orsted%2C%20Equinor%20ink%20New%20York%20offshore%20power%20pacts&text=The%20projects%20involved%20are%20Orsted,2%20and%201230MW%20Beacon%20Wind.<\/a><\/p>\n\n\n\n

So we are looking at a range of prices demanded between $139 and $190\/MWh.<\/p>\n\n\n\n

In UK terms, that\u2019s \u00a3114 to \u00a3155\/MWh.<\/p>\n\n\n\n

Do we need any further proof that offshore wind is not as cheap as made out?<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

From NOT A LOT OF PEOPLE KNOW THAT By Paul Homewood We already know that some developers have pulled out of offshore wind projects off the US NE coast, as they are not viable. Here is more news on developments off the New York coast: The developers of four offshore wind farms in New York […]<\/p>\n","protected":false},"author":121246920,"featured_media":282414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Do we need any further proof that offshore wind is not as cheap as made out?","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691822438,691818867,691823425,691823424,691820753],"class_list":{"0":"post-282409","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-eversource","9":"tag-new-york","10":"tag-not-viable","11":"tag-offshore-projects","12":"tag-orsted","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/10\/image-180.png?fit=1500%2C1083&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1bsZ","jetpack-related-posts":[{"id":294191,"url":"https:\/\/climatescience.press\/?p=294191","url_meta":{"origin":282409,"position":0},"title":"Biden’s Green New Deal Turns Disaster, Offshore Wind Project Axed","author":"uwe.roland.gross","date":"08\/01\/2024","format":false,"excerpt":"In a major blow to Biden's Green New Deal, a giant offshore wind project that was in the works has been canceled off the coast of New York.","rel":"","context":"In \"Green new deal\"","block_context":{"text":"Green new deal","link":"https:\/\/climatescience.press\/?tag=green-new-deal"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Screenshot-2024-01-08-084116.png?fit=1200%2C615&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":397882,"url":"https:\/\/climatescience.press\/?p=397882","url_meta":{"origin":282409,"position":1},"title":"Orsted Pull The Plug On\u00a0AR7","author":"uwe.roland.gross","date":"26\/08\/2025","format":false,"excerpt":"As we know, Orsted, Denmark\u2019s world leading offshore wind developer, pulled out of its Contract for Difference to build a giant 2400 MW Hornsea 4 wind farm in May. 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Each tower float must bemoored to the bottom in\u2026","rel":"","context":"In \"Bureau of Ocean Energy Management (\u2018BOEM\u2019)\"","block_context":{"text":"Bureau of Ocean Energy Management (\u2018BOEM\u2019)","link":"https:\/\/climatescience.press\/?tag=bureau-of-ocean-energy-management-boem-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/085d9d7b3b72e36a2fa37472b0c66d812.jpeg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/085d9d7b3b72e36a2fa37472b0c66d812.jpeg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/085d9d7b3b72e36a2fa37472b0c66d812.jpeg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/085d9d7b3b72e36a2fa37472b0c66d812.jpeg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/085d9d7b3b72e36a2fa37472b0c66d812.jpeg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/282409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=282409"}],"version-history":[{"count":3,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/282409\/revisions"}],"predecessor-version":[{"id":282415,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/282409\/revisions\/282415"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/282414"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=282409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=282409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=282409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}