Under the law, household electric rates will increase by up toan estimated $1.50 per month, with most businesses paying a 1.5% monthlysurcharge. The rate hikes would not take effect until after the wind farm isoperational.
Maryland already requires that 20% of its electricity comefrom renewable sources by 2022. The law creates a carve-out within the RPS foroffshore wind.
Its new law also creates offshore wind renewable energycredits, or ORECs, that will be awarded to operators on amegawatt-hour production basis.
