If the company refuses, the government may still terminate its lease.

As Americans struggle with rising gas prices and high electricity rates, the Trump administration is reportedly trying to pay companies not to add power to the grid.

On Tuesday, The New York Times reported that "senior administration officials" were preparing settlement agreements with French energy developer TotalEnergies to terminate the firm's offshore wind energy projects in New York and North Carolina. Both projects are set to come online in the early 2030s. In exchange for the Interior Department canceling these leases (which are in federal waters), the Justice Department "would then pay more than $928 million" to the company as a reimbursement "for its winning bids in lease sales during the Biden administration," reports the Times' Maxine Joselow.

The deal would not end there. TotalEnergies would also have to agree to fund "accelerated investments" in natural gas projects in Texas, according to proposed settlements reviewed by the Times. If the company refuses the offer, the administration may still ax the leases, setting off a lengthy and costly legal battle.

...read more at reason.com