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Maryland Offshore Wind Plan Likely to Pass, but Will It Be Built?

Feb 5, 2013
(The Washington Post)

Analysts said at the time that the governor's proposed subsidy to the industry would cost ratepayers twice as much as his staff had suggested to lawmakers.

Coming from O’Malley, who first won the governor's office on a promise to lower residents’ electricity bills, the rate increase was seen as a reversal. Lawmakers also grew skeptical after learning that O’Malley’s former chief of staff was involved in one of eight bids to become the developer and get the subsidy.

To assuage concerns raised by utilities, O’Malley jettisoned a revenue model that banks rely on to fund nearly all on-land U.S. wind energy projects: a process that requires energy providers to purchase wind energy at a price set high enough for developers to turn a profit.