Friday, June 20, 2008

Ten Days Left in June

Tony DeLuca is quoted in today's News Journal as saying we're close:
The Senate majority leader, who has been herding the parties toward a compromise, said in a written statement late Thursday afternoon, "We are close to agreement."
"There are still a couple of minor, technical issues outstanding, so we'll be working through the weekend to get those straightened out. I am fairly confident that we'll be able to make an announcement early next week," DeLuca said.
The prospect of a deal between Bluewater Wind and Delmarva Power is mildly disorienting.
We've become so used to Delmarva Power doing everything it can to kill wind power in Delaware that we hardly know how to react to the prospect of the company coming to terms with Bluewater. It's hard to not believe that another crisis won't pop up to make life interesting, and give Harris McDowell a chance to once again talk about putting another nail in the coffin, just for old times sake.
But I'm still telling people to call their senators; it's the prospect of passing HCR 38 that brought Delmarva Power to the bargaining table.
Meanwhile concerns about Babcock & Brown's ability to raise capital are abating. The company's stock has recovered somewhat, and would be short-sellers are having trouble borrowing share to bolster their position.
The company has attracted bids for European wind power assets that would bring a tidy $300 million profit on the sale, which should go a long way towards strengthening its balance sheet.
The wind power story has had more cliffhangers than a Steven Speilberg movie; it may be fitting that we're down to the last ten days of June waiting for a decision.


Anonymous Anonymous said...

This is not a Hollywood set. This is serious business. There's no deal yet. That's the fact. By today, DeLuca should be announcing HCR38 will be voted on next week, that is, if he means to get a deal. If Delmarva and Bluewater work something else out, he can take HCR38 off. We aren't stupid out here.

9:51 AM, June 20, 2008  
Blogger Tom Noyes said...

Well don't tell me; tell him yourself. Tony DeLuca's office number is 302-744-4165.

10:22 AM, June 20, 2008  
Anonymous Anonymous said...

Ijust called that number and not only relayed a message to the receptionsit but she claimed that she was going to email it to him.

11:32 AM, June 20, 2008  

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