Document
New Jersey BPU order accepting Orsted Ocean Wind offshore solicitation
New Jersey BPU|Jun 21, 2019
The attached document provides the complete conditional approval of the Orsted Ocean Wind offshore solicitation. Attachment A of the order includes the price schedule for offshore wind renewable energy credits (ORECs) that ratepayers will pay to Orsted through to 2045 for the full 1100 megawatts installed. Pricing data is provided below. Attachment B lists the conditions placed on Orsted for construction and operation of the facility.
The attached document provides the complete conditional approval of the Orsted Ocean Wind offshore solicitation. Attachment A of the order includes the price schedule for offshore wind renewable energy credits (ORECs) that ratepayers will pay to Orsted through to 2045 for the full 1100 megawatts installed. Pricing data is provided below. Attachment B lists the conditions placed on Orsted for construction and operation of the facility.
| Namelate Capacity (MW) | Phase 1: 368 | Phase 2: 368 | Phase 3: 368 | |
| COD M/Y | 24-May | 24-Sep | 24-Dec | |
| Energy Year Ending May 31 of | All-in OREC Price ($/OREC) | Phase 1 Output (months) | Phase 2 Output (months) | Phase 3 Output (months) |
| 2024 | $98.10 | 1 | 0 | 0 |
| 2025 | $100.06 | 12 | 9 | 6 |
| 2026 | $102.06 | 12 | 12 | 12 |
| 2027 | $104.10 | 12 | 12 | 12 |
| 2028 | $106.18 | 12 | 12 | 12 |
| 2029 | $108.30 | 12 | 12 | 12 |
| 2030 | $110.47 | 12 | 12 | 12 |
| 2031 | $112.68 | 12 | 12 | 12 |
| 2032 | $114.93 | 12 | 12 | 12 |
| 2033 | $117.23 | 12 | 12 | 12 |
| 2034 | $119.57 | 12 | 12 | 12 |
| 2035 | $121.96 | 12 | 12 | 12 |
| 2036 | $124.40 | 12 | 12 | 12 |
| 2037 | $126.89 | 12 | 12 | 12 |
| 2038 | $129.43 | 12 | 12 | 12 |
| 2039 | $132.02 | 12 | 12 | 12 |
| 2040 | $134.66 | 12 | 12 | 12 |
| 2041 | $137.35 | 12 | 12 | 12 |
| 2042 | $140.10 | 12 | 12 | 12 |
| 2043 | $142.90 | 12 | 12 | 12 |
| 2044 | $145.76 | 11 | 12 | 12 |
| 2045 | $148.68 | 3 | 6 |
