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Bend over: Massachusetts OKs National Grid to buy Cape Wind power

Discussion in 'Political Discussion' started by Real World, Nov 27, 2010.

  1. Real World

    Real World Moderator Staff Member

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    What a joke. Twice the regional rate? $2.5 Billion? You know this project is going to cost twice that. What a joke.


    Massachusetts OKs National Grid to buy Cape Wind power

    NEW YORK | Wed Nov 24, 2010 3:23am EST

    NEW YORK (Reuters) - Massachusetts utility regulators have approved National Grid Plc's agreement to buy power from the 420-megawatt Cape Wind project, which could be the United States' first offshore wind farm.

    The state on Monday said it supported the project, which industry estimates say could cost $2.5 billion, to reduce greenhouse gas emissions, increase renewable energy sources and attract clean-energy jobs.

    National Grid, a London-based energy company supplying power to about 3.3 million customers in the U.S. Northeast, agreed to buy half the power produced by Cape Wind for about 18.7 cents per kilowatt hour for 15 years starting in 2013. Massachusetts customers already pay some of the nation's highest power prices, and the Cape Wind energy would cost more than twice the region's current market rate for wholesale electricity.


    Massachusetts OKs National Grid to buy Cape Wind power | Reuters

     

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