The Industrial Energy Consumers of America (IECA) has written a letter to the U.S. Department of Energy asking for "immediate action under the Natural Gas Act" to prevent a supply crisis and price spikes this winter season. They are asking the DOE to limit LNG exporters rates to allow gas storage levels to reach the five-year average before entering withdrawal season.
They also asked the DOE to place a hold on all existing, pending and profiling permits for new LNG export facilities in the United States, citing that they are certain none of the projects are in the public interest.
As a quick background, the IECA represents manufacturing firms with $1.1 trillion in annual sales and 1.8 million employees worldwide.
Avangrid has reached financial close on its Vineyard Wind I Offshore development, securing $2.3 billion construction and term loan financing with nine banks. This will allow them to begin work on the 800 MW project in the Fall of 2021, with commercial operation targeted in 2023.