Maine PUC Rejects Undisclosed Long-Term Contract Proposals

May 11, 2011
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The Maine PUC denied proposals for long-term contracts for capacity, energy, and RECs associated with two undisclosed renewable energy projects.

The contracts resulted from the PUC's 2010 long-term contracts RFP (2010-66).

The PUC said that the proposed contract price offers "just a possibility of being below projected market prices," which does not meet the PUC's view of the statutory requirement that long-term contracts be "reasonably likely" to produce net benefits for customers.

Notwithstanding various policy goals that the contracts could help achieve, the PUC found only "marginal" benefits under base case assumptions, and the potential for substantial ratepayer costs in the future under certain market conditions.

The PUC welcomed the submission of re-priced contracts for the projects.

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