Pashman Stein Walder Hayden P.C. Mentioned in TheSandPaper.net Article, “Mayors Seek to Stop Atlantic Shores Rebid of Offshore Wind Contract”

Pashman Stein Walder Hayden P.C. was recently mentioned in an article from TheSandPaper.net titled “Mayors Seek to Stop Atlantic Shores Rebid of Offshore Wind Contract.” The article discusses how Pashman Stein filed comments with BPU commissioners regarding its draft guidance for its fourth offshore wind solicitation, saying it “appears to be targeted at permitting Atlantic Shores Offshore Wind to rebid its project to obtain increased” offshore wind renewable energy certificate pricing.

The comments were filed on behalf of the mayors of Barnegat Light, Beach Haven, Harvey Cedars, Long Beach Township, Ship Bottom, Surf City, Brigantine and Ventnor City.

The letter states that increased subsidies would come at the “expense of New Jersey’s ratepayers. And indeed, Atlantic Shores commented orally at the BPU’s March 20, 2024 stakeholder meeting, strongly suggesting that it does intend to rebid,” which was authored by partners Timothy P. Malone and Frank Huttle III, and managing partner Michael S. Stein.

“If Atlantic Shores is to be permitted to construct its proposed offshore wind project, it should be held to the original deal,” the letter said, adding that the mayors “believe it would be the definition of arbitrary, capricious, and unreasonable for the BPU to voluntarily permit Atlantic Shores to walk away from the OREC pricing it agreed to and allow it to seek a greater subsidy from New Jersey’s ratepayers.”

“Atlantic Shores – not New Jersey ratepayers – should bear the cost of any mistakes it made. If they refuse to honor their obligations and initial OREC pricing agreed to, Atlantic Shores should not be viewed as a reliable company trusted to construct a project of such scale that will permanently alter New Jersey’s coastal ecosystems and coastal economy and way of life,” they wrote in the letter.  

Citing the state’s Offshore Wind Economic Development Act, the letter notes that the New Jersey Board of Public Utilities is required to find the company “proposing the project demonstrates financial integrity and sufficient access to capital to allow for reasonable expectation of completion of the project. … The BPU’s rules plainly place the risk of increased costs on the developer, not the ratepayers.”

To read the full article in The Sand Paper, click here.

This case also received coverage in the Associated Press, which can be read here.