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Carbon price can save offshore wind in the US, but not storage

The Federal Energy Regulatory Commission (FERC) faces fresh accusations of lobbying on behalf of fossil fuels in the US. Recent criticism has come after the regulator stuck by previous proposals to set a minimum price rule for subsidized renewables in the New York market. There is logic behind going subsidy free in protecting bill payers, but with such ambitious climate policy, the need for carbon taxes is becoming more acute if the state wants to keep dreams of offshore wind and storage alive. The buyer-side mitigation (BSM) has loomed over New York since mid-2019, with system operator NYISO proposing exemptions for 1,000 MW of renewable energy resources and 300 MW of storage capacity in the state’s installed capacity market (ICAP)…

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