Articles filed under Impact on Economy from Massachusetts
"We believe that more effort should be made to expose the true costs of energy, including costs that are often hidden as subsidies," Attorney General Martha Coakley said at the start of a broad legislative inquiry into the Green Communities Act of 2008.
Twenty-four-cent wind power would more than double the electric bills of tens of millions of Americans. But Obama and the liberals don't care about what would amount to a gigantic new tax on families who are far from the millionaires the president claims he wants to hurt.
NStar has kept pricing on the three deals confidential, but analysts have estimated the power costs at about 9.4 cents per kilowatt hour. The three deals are fixed price contracts, meaning the price per kilowatt hour doesn't increase over time.
State officials and Cape Wind supporters are keeping the pressure on Nstar, whose $4.6 billion merger with Northeast Utilities will be dissected in a series of make-or-break regulatory hearings starting tomorrow.
"Frankly, as a person who represents business, I find it insulting that they're using some little home owner (for comparison)," he said. "It ain't a $1.50 a month to our members." The 468-megawatt Cape Wind project will cost $2.62 billion to build, according a Massachusetts attorney general's office estimate.
The Devens closing is a major hit to Governor Deval Patrick's efforts to make Massachusetts a hub of the emerging clean-energy industry. The administration persuaded Evergreen to build at Devens with a package of grants, land, loans, and other aid originally valued at $76 million. The company ended up taking about $58 million.
A broken campaign pledge by Gov. Deval Patrick could end up costing Massachusetts ratepayers big bucks if yet another massive wind farm is built off the coast of Martha's Vineyard. When he first ran for governor in 2005, the then-relatively unknown Patrick broke out of the Democratic pack by endorsing the controversial Cape Wind project.
The 6,000-member Associated Industries of Massachusetts said in a statement yesterday that the Department of Public Utilities overstepped its powers and set a dangerous precedent for allowing utilities to negotiate agreements outside the competitive bidding process when it approved the deal last month.
AIM will argue in its appeal that approval of the National Grid/Cape Wind deal by the Department of Public Utilities (DPU) was "arbitrary, capricious," an "abuse of discretion and not otherwise in accordance with the law." AIM believes the agreement sets a dangerous precedent for allowing utilities to negotiate expensive power agreements outside of the competitive bidding process and to allocate the costs of those contracts unfairly to commercial and industrial customers.
Two parties have filed an appeal with the state Supreme Judicial Court of the decision approving the rate for half of the power from Cape Wind. The Associated Industries of Massachusetts and the TransCanada Corp. have filed the appeal of the state Department of Public Utilities' November decision, said DPU executive director Tim Shevlin.
"This decision will not only raise costs for our members, but also establishes a dangerous precedent of regulatory rubber-stamping of renewable energy contracts with absolutely no concern for the ratepayer," said Robert Rio, vice president at the Associated Industries of Massachusetts.
Cape Wind - composed of unnecessary rate hikes, sweetheart deals and hidden costs - has been disguised by a clean, green energy cloak, camouflage enough to fool any environmentally conscious consumer into thinking that if it looks green, it must be good. Cape Wind is not good for Massachusetts.
Gov. Deval Patrick on Wednesday pointed to jobs the project will produce, announcing that a company based in Middleborough will make the foundations for the giant wind turbines ...The announcement came as the Alliance to Protect Nantucket Sound, released results of a poll where 70 percent of respondents, once apprised of the increase in electric bills associated with the project, said they opposed the project.
"I used to look at Cape Wind and think, 'Oh, wind power. That's great,'" said Housen, whose firm is one of National Grid's largest customers. "I don't say that anymore. Cape Wind is going to cost us significantly more." To offset the increased expense, Housen said he'll probably have to pass along the increase to customers or delay hiring any new employees.
And experts say most of those costs will be passed on to the same consumers who, as rate- and taxpayers, will be paying for the cost of planting the turbines off Nantucket Sound - and footing higher energy bills once the project is running. "As they say, there are lies, damned lies and statistics," said energy analyst Robert McCullough. "This is a very expensive project."
National Grid estimated a small grocery store or medium-sized restaurant will see electric bills rise by about $100 per month. A typical supermarket will pay about $500 more while a medium-size suburban hospital would see a $2,500 jump in its bills. Large industrial businesses would get hit the hardest.
DPU concluded hearings Friday on a proposal that would add $1 billion to the electric bills of National Grid customers to pay for Cape Wind, even though the utility could have purchased less expensive renewable power from other suppliers. ...Our cross-examination of senior National Grid executives and other principals in the proposed agreement established several important facts.
When there is no wind no power is produced. When the wind blows at night, battery storage power is as primitive now as it was in 1990, with very little improvement. The Big Breakthrough in proton exchange membranes and fuel cells is still a research hypothesis ...Thus, based on economics the conclusion is that Cape Wind is a No Build project.
The much-anticipated Department of Public Utilities hearings into the proposed Cape Wind-National Grid electric rates start today amid signs that opponents are pinning their last hopes of blocking the controversial offshore wind project on non-cost issues.
Cape Wind blew away National Grid's 1.2 million Massachusetts customers when they learned that their power from Cape Wind will cost at least 25 percent more than National Grid's conventional electricity. Even though the wind power will be just 3.5 percent of the utility's total load and the impact on an average monthly bill will be about $1.24, consumers are justified in asking if the state is right to require utilities to bring on costly renewable power like Cape Wind's.