Offshore wind proved its worth during Winter Storm Fern, outperforming coal and matching gas in reliability. (Canary Media)
During January’s freeze, New York’s South Fork Wind notched a 52% capacity factor, while Massachusetts’ Vineyard Wind—which is 95% complete but already producing as much as 600 MW—hit 75%.
While spot electricity prices spiked to over $870/MWh during the storm, Vineyard will be able to deliver power at its locked-in rate of $84.23/MWh once fully operational, validating it as a crucial hedge against volatile fossil fuel costs.