Avangrid appeals approval of power purchase agreements for Commonwealth Wind project
On December 30th, the Massachusetts Department of Public Utilities (DPU) denied Avangrid’s request to renegotiate the power purchase agreements (PPAs) it had agreed to in May 2022. Avangrid had claimed that, without concessions from the electric distribution companies (EDCs), the project was economically unviable.
The company has now filed a notice of appeal to challenge the DPU’s decision. Avangrid continues to argue that the project cannot be financed or built without revision to the PPAs, due to increases in commodity prices, rising interest rates and supply shortages.
In its appeal, Avangrid is seeking to “set aside [the contracts] in their entirety because they are based upon errors of law, are unsupported by substantial evidence, are arbitrary, capricious, constitute an abuse of discretion, and are otherwise not in accordance with law.”