Undersea Transmission Line Incentives Draw Opposition
The National Rural Electric Cooperative Association and several state public utility commissions are among those challenging Atlantic Wind Connection’s request to the Federal Energy Regulatory Commission to grant specific incentives for a 300-mile undersea transmission line development project that will link power produced by wind turbines off the East Coast to the mainland. The incentives include a guaranteed 13.58% return on equity and recovery of costs in the event the project falls through for reasons beyond the developers’ control. Investors like Google, Inc. are positioned to benefit from the incentives, while critics worry the incentives are too generous and will peg costs on consumers without verification that the added transmission is necessary. Read more here.
