AUGUSTA, Maine (AP)   The Maine Public Utilities Commission has delayed action on a power contract for the Aqua Ventus offshore wind pilot project near Monhegan Island.

Regulators on Tuesday cited changing energy markets for delaying a long-term contract between Maine Aqua Ventus and Central Maine Power Co.

More public comments will be taken before a final decision.

The panel contends the nation’s energy outlook has changed since 2014 when initial approval was given to a proposed “term sheet.”

But Aqua Ventus counsel Anthony Buxton said the electricity target prices will be competitive if the project reaches commercial scale.

He said millions of dollars have been spent on the demonstration project and that the University of Maine-designed floating wind turbines are critical to the state’s economy with the potential to create thousands of jobs.