DAY 943
- Proposed price is the lowest of all domestic demonstration scale projects approved to date.
- Normalized to $2012 to compare on an-apples-to-apples basis, the proposed base price of $199/MWH is less than the Rhode Island project (including its transmission to shore and the 2.75% utility incentive rate) and is lower than the Maine project.
- The pricing relationship remains after normalizing pricing to the BPU’s preferred 2015 commercial operation date convention.
- The proposed project include the price impact of the 30% Federal Investment Tax Credit and a $47 million Department of Energy grant which together reduce the proposed price to almost that of the only commercial scale project – Cape Wind.
- The proposed OREC price is less than Acadian’s calculated “reasonable cost and reasonable rate of return” figure of $200.50.