Senator Ed Durr expressed his strong opposition to legislation that would redirect up to $1 billion from ratepayers to a foreign company that is building a disputed wind farm off the coast of New Jersey.
Sen. Ed Durr expressed his strong opposition to legislation that would redirect up to $1 billion from ratepayers to a foreign company that is building a disputed wind farm off the coast of New Jersey. (©iStock)
“New Jersey ratepayers are already paying higher costs on their electric bills to help fund the offshore wind farms that are being developed within sight of our beaches,” said Durr (R-3). “Ørsted agreed as part of the approval process to apply for and return to ratepayers any federal tax incentives that might become available to offset the higher costs that ratepayers are paying today for the development of wind energy. Despite the deal they signed, Ørsted is realizing that wind farm projects don’t make economic sense without major government subsidies, so now they’re looking for a huge handout at the expense of utility customers. We shouldn’t give it to them.”
The Danish company has suggested that the wind farms might not be completed unless they are allowed to keep the tax incentives that were made available under the federal Inflation Reduction Act.