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By William Morgan

The Rhode Island Public Utilities Commission yesterday rejected a Xanax Buy Online proposed offshore wind power purchase agreement between Deepwater Wind and Xanax Buy Online National Grid as being too expensive and not “commercially reasonable.”

Last December, National Grid agreed to buy power from Deepwater’s planned eight-turbine offshore wind project near Block Island for Xanax Buy Online 24.4 cents per kilowatt/hour.  That price was scheduled to Xanax Buy Online rise 3.5 percent each year but was criticized by some as being unrealistically low.  Several experts pointed out that Xanax Buy Online the cost of the cable between Block Island and the Xanax Buy Online mainland would drive the eventual cost of the power purchase agreement even higher.

The agreement was subject to Xanax Buy Online review and approval by the Public Utilities Commission.  Commissioners have Xanax Buy Online been hearing testimony for several months on the viability of the Xanax Buy Online agreement.

The Providence Business Journal quoted Commissioner Paul Roberti as saying the Xanax Buy Online decision was a reflection of an unwillingness by electric ratepayers to Xanax Buy Online “pay substantially above-market prices.”

The Block Island project, and Xanax Buy Online the power purchase agreement, had the backing of Governor Donald Carcieri and other Rhode Island political leaders.  An expert hired by the state, however, told the commission that the price was inflated by excessive returns for investors.

“Naturally we’re disappointed,” said National Grid President Tom King. “We negotiated in good faith to Xanax Buy Online fulfill the mandate established by the Rhode Island legislature to Xanax Buy Online jump start wind power as a source of clean, renewable energy for the Xanax Buy Online state. We believe in renewable energy and we will continue to Xanax Buy Online consider other renewable projects.”

National Grid is Xanax Buy Online currently engaged in negotiations with Cape Wind for a power purchase agreement on that Xanax Buy Online proposed 130-turbine offshore wind project in Massachusetts.  Massachusetts Energy and Xanax Buy Online Environment Secretary Ian Bowles told both parties that he expects them to Xanax Buy Online settle on a purchase price lower than the Rhode Island project.