Electric transmission developer LS Power Grid is urging New Jersey to include comprehensive cost containment measures in all of its plans for the development of offshore wind energy systems.
“We applaud the New Jersey Board of Public Utilities (NJBPU) for welcoming competitive bids from private developers as part of the state’s offshore wind development process,” states Lawrence Willick, executive vice president of New Jersey-based LS Power, parent of LS Power Grid. “Given the scale of these projects, comprehensive cost containment measures must be included.
“Such measures have proven to reduce cost, reduce risk and, ultimately, produce the most affordable energy systems,” continues Willick. “Well-defined cost containment measures can help New Jersey create not only the best possible offshore wind energy systems, but also the most significant long-term benefits and savings for ratepayers.”
Willick participated in a public meeting hosted by the NJBPU. LS Power Grid is one of 13 private sector companies that have responded to the state’s request for proposals on how best to connect offshore wind power to the state’s aging onshore electrical grid. Currently, the NJBPU and the regional grid operator, PJM Interconnection, are evaluating these proposals.