>
Despite lowered cost estimates, price tag could sink O’Malley energy plan
by Margie Hyslop | Staff Writer
Cost concerns are jeopardizing Gov. Martin O’Malley’s proposal to subsidize development of offshore wind farms — even as advocates hoped new estimates would quell worries.
The Maryland Public Service Commission told the Senate Finance Committee on Tuesday that subsidizing a 500-watt wind farm for 25 years would add roughly 92 cents to $3 per month to residential electric bills.
That’s a far cry from earlier this month, when the PSC said household electric bills could increase as much as $8.70 per month under the Maryland Offshore Wind Energy Act, which O’Malley (D) is advocating as a way to help meet the goal of generating one-fifth of the state’s electricity from renewable sources by 2022.
O’Malley’s proposal could lead to construction of about 120 wind turbines roughly 11 miles off the Eastern Shore. Legislators have yet to vote on the plan, which asked lawmakers to mandate that Maryland’s four investor-owned utilities — Pepco, Delmarva Power, Baltimore Gas and Electric Co. and Allegheny Power — purchase 400 to 600 megawatts of offshore wind energy capacity for at least 20 years.
Read the full article here.
If you or someone you know is considering buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
