Articles filed under Impact on Economy from Massachusetts

AG Martha Coakley won't release Cape Wind deal details

The report, which was Coakley's official justification of her rate settlement with Cape Wind and National Grid, includes "redacted" words, numbers, sentences, paragraphs and charts. It even blanked out a question asked of an energy expert hired by Coakley's office - and the expert's response was also crossed out, records filed with the Department of Public Utilities show.
25 Aug 2010

AG backs new plan on price of energy

Under the revised contract, National Grid electricity customers who use an average of 600 kilowatt hours of power a month would pay just under $1.50 more on their electric bills in 2013, when the contract begins ...Associated Industries of Massachusetts, a trade group that has long been skeptical of Cape Wind, remained unswayed by the price reductions.
10 Aug 2010

Wind farm rate reduction negotiated

In May, Cape Wind Associates LLC reached an agreement with National Grid to sell half the power generated by the wind farm for 20.7 cents per kilowatt hour. Under the "agreement in principle" announced yesterday by Massachusetts Attorney General Martha Coakley, the cost of energy in the proposed 15-year contract would drop to 18.7 cents per kilowatt hour.
31 Jul 2010

At whim of the wind

The issue is that pursuit of the goal has the potential to convert thousands of acres of the state's land and water into industrial tracts - all for the purpose of generating low quantities of expensive and unreliable electric power. This may be acceptable in the Midwest with its open agricultural spaces, but in Massachusetts will likely mean the destruction of forested lands and scenic vistas.
31 Jul 2010

AIM trade group statement on Cape Wind deal

"The settlement circumvents what should have been an open and transparent review by the Department of Public Utilities of the largest electricity rate case in recent memory. We had hoped that the attorney general would be a stronger advocate for the interests of financially struggling employers and citizens of the commonwealth.
30 Jul 2010

Cape Wind is another Big Dig

The fix is in. Our governor has allied himself with the wealthy private developer and the big foreign utility National Grid, which stands to reap hundreds of millions from bloated electricity rates Cape Wind will saddle consumers with. Like the Big Dig, which Massachusetts politicians used like an ATM for decades, Deval Patrick has reaped the rewards with huge campaign contributions.
27 Jul 2010

Mass AG demands Cape Wind $ info

"We think that the underlying construction and operation costs of Cape Wind and profits to the project's investors are relevant to whether National Grid's contract with Cape Wind is cost effective and in the best interests of Massachusetts ratepayers. We have requested that the Department of Public Utilities order Cape Wind to provide this information."
12 Jul 2010

Cape Wind opponents, supporters will weigh in on power deal

Robert Rio, senior vice president at Associated Industries of Massachusetts Inc., said he expects the organization to "add a perspective that is very important to determining the outcome of the proceeding...This is now more transparent, as transparent as it could be." Rio said the group is looking to fully understand the costs of Cape Wind power "and see if this is the best way to use ratepayer money."
9 Jul 2010

Wal-Mart challenges Cape Wind's high prices

In filings with the state, Wal-Mart said the high prices set by Cape Wind's first contract to sell electricity will lead to higher costs for the retailer. Wal-Mart already pays more than $2 million a year to power 28 Massachusetts stores served by National Grid, which negotiated the deal with the offshore wind farm.
17 Jun 2010

Cape Wind foes eye law; May sue over Massachusetts ‘green' energy-buying mandate

Opponents of the Cape Wind project are planning to launch a multi-pronged legal attack that could include a challenge to the constitutionality of a state law forcing utilities to buy much of their renewable-energy only from firms that produce power within Massachusetts. The possible legal assault, based on the Commerce Clause of the U.S. Constitution, would be in addition to opponents' already stated intent to challenge Cape Wind on alleged violations of endangered species, ocean and energy laws.
13 May 2010

Billions for big wind

The highly touted Cape Wind project is already stoking fears of an open-ended ratepayer burden and lack of accountability reminiscent of the state's Big Dig nightmare. As the Herald reported yesterday, the Cape Wind project, which started out as a $650 million offshore wind farm, has ballooned to more than $2 billion in construction costs and a potential $6 billion hit to ratepayers when debt service, profits, maintenance and other costs are included.
12 May 2010

The Price of Wind; The 'clean energy revolution' is expensive.

The ferocious opposition from Massachusetts liberals to the Cape Wind project has provided a useful education in green energy politics. And now that the Nantucket Sound wind farm has won federal approval, this decade-long saga may prove edifying in green energy economics too: Namely, the price of electricity from wind is more than twice what consumers now pay.
12 May 2010

Cape Wind rate shock; Electricity will cost twice as much as power plants

The current price of National Grid's non-wind electricity is now about 9 cents per kilowatt. That means the cost of fossil-fuel generated electricity would have to increase nearly four-fold just to keep pace with Cape Wind's prices over the next 15 years. "I'm glad it's your electric bills and not mine," said Robert McCullough, president of McCullough Research, an Oregon energy consulting firm, referring to Cape Wind's prices.
8 May 2010

Cape Wind cuts key deal

After more than five months of negotiations, the state's largest electric utility has agreed to buy half the power generated by what could be the country's first offshore wind farm. Under the deal, National Grid will pay 20.7 cents per kilowatt hour for the power from the 130 turbines that Cape Wind Associates LLC wants to build in Nantucket Sound and for renewable energy credits associated with the project.
8 May 2010
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