An independent analysis insists that Fishermen's Energy's 30-megawatt wind farm project could cause a statewide economic disaster, writes Tom Johnson.
According to a report released Friday, Fishermen's Energy overstated the economic benefits of a proposal to build the state's first wind farm just 2.8 miles off Atlantic City.
Representatives from Fishermen's Energy have responded by claiming that the report, commissioned by the New Jersey Division of Rate Counsel, a state policy group representing consumer interests, is based on factual errors. If accurate, the report indicates that the project could cost up to 30,000 jobs and $1 billion in net economic output as employers flee high utility costs.
"The costs of this project are simply too high to justify New Jersey ratepayer financial support," said David Dismukes, who authored the report.
The proposal is being considered by the New Jersey Board of Public Utilities, which will likely take action this spring.
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