Constellation Energy says requiring utilities to buy offshore wind power will cost customers billions at the expense of more cost-effective clean-energy alternatives.
Gov. Martin O’Malley is supporting a bill to require state utilities to enter into decades-long contracts for offshore wind energy, which he says will create jobs and cut pollution.
Constellation Energy and its utility subsidiary, Baltimore Gas & Electric, say projected costs for pending mid-Atlantic offshore wind projects show customers would pay between $2.7 billion and $7.5 billion more over 20 years. And the company says that would also likely increase borrowing costs and hamper deregulation that has resulted in significant private investment in wind, solar and energy efficiency technologies.