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Cape Wind business model will pick public's pocket

Cape Cod Times|Joseph P. Kennedy II|February 23, 2010
MassachusettsJobs and Economy

I couldn't disagree more strongly with Dennis Duffy (My View, Jan. 21) about my objections to the Cape Wind project. My opposition to the project is not based on any NIMBY concerns, but on the basis of its unjustified burden on the ratepayers of Massachusetts.


I couldn't disagree more strongly with Dennis Duffy (My View, Jan. 21) about my objections to the Cape Wind project. My opposition to the project is not based on any NIMBY concerns, but on the basis of its unjustified burden on the ratepayers of Massachusetts.

Cape Wind is slated to receive over $400 million in taxpayer subsidies while costing $2 billion to $3 billion more to produce than onshore wind. This same amount could be used to generate more energy and jobs at lower costs if spent on onshore generation.

I do not oppose offshore wind. I would have reviewed this opportunity had a competitive process existed. What I oppose is developing high-cost projects when less costly renewable alternatives exist.

If Cape Wind sold its …

... more [truncated due to possible copyright]

I couldn't disagree more strongly with Dennis Duffy (My View, Jan. 21) about my objections to the Cape Wind project. My opposition to the project is not based on any NIMBY concerns, but on the basis of its unjustified burden on the ratepayers of Massachusetts.

Cape Wind is slated to receive over $400 million in taxpayer subsidies while costing $2 billion to $3 billion more to produce than onshore wind. This same amount could be used to generate more energy and jobs at lower costs if spent on onshore generation.

I do not oppose offshore wind. I would have reviewed this opportunity had a competitive process existed. What I oppose is developing high-cost projects when less costly renewable alternatives exist.

If Cape Wind sold its power into the spot market on a daily basis, it might indeed reduce market clearing prices. But Cape Wind is negotiating to sell electricity through a long-term contract at rates two to three times the current cost of wholesale power.

Duffy ignores the fact that Cape Wind's oversized costs do not represent a reasonable return on the public's investment. Citizens Energy has been involved in alternative energy development for decades, but we do not include in our business model a plan to pick the public's pocket.

Mr. Joseph P. Kennedy II is President of Citizens Energy Corp.


Source:http://www.capecodonline.com/…

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