After 19 months, New York has abandoned its most recent attempt to procure offshore wind power, saying it would not be prudent to proceed amid federal policy uncertainty.

After a remarkably bad year for the U.S. offshore wind industry, the Oceantic Network’s annual conference was focused on engineering a rebound rather than licking wounds.

Conference attendees are optimistic that the rapidly rising demand for energy will mean the federal government eventually will have to harness wind power.

Eversource Energy’s exit from the offshore wind business drove a $118 million loss in the third quarter of 2024, offsetting increased revenue from its electric and gas distribution business relative to 2023, the company told investors.

Activists, ISO-NE officials, and state representatives from across New England convened in New London, Conn., to discuss the benefits of offshore wind to the region’s power system.

Eversource announced plans to reduce its investments in Connecticut by about $500 million over the next five years because of the “negative regulatory environment” at the Public Utilities Regulatory Authority.

All of South Fork Wind’s turbines are sending electricity to the New York power grid.

Eversource finalized its long-running attempt to sell off its offshore wind assets, but not soon enough to avoid a $1.95 billion impairment for 2023.