Betting big on offshore wind could reduce the cost of electricity in Maryland, environmentalists say

Environmental activists pushing for more development of offshore wind turbines in the Atlantic Ocean released a report exploring potential economic windfalls for electric consumers in Maryland. The new report estimates that if regulators approve 6,000 megawatts of offshore wind projects, three times as much that’s already permitted, electric consumers may see a smaller bill. That calculation is based on what’s known as the standard offer service rate, which is how much electric utility companies charge, but does not include extra fees or other considerations. New Jersey-based energy consulting firm Gable Associates, estimates that by 2031 if Maryland bets big on offshore wind the price for standard offer service could drop from 8 cents per kilowatt to 4 cents per kilowatt.