Cape Wind at 20.7 cents per kWh?
By Todd Griset
Todd Griset practices energy law with Preti Flaherty Beliveau & Pachios LLP in its Augusta, Maine office, where he represents industrial energy consumers and renewable generators on energy policy matters.
National Grid, one of the largest public utilities serving Massachusetts customers, has agreed to buy electricity from the 130-turbine Cape Wind near-shore wind project in Nantucket Sound. The Boston Herald reports that National Grid has signed a 15-year contract to pay 20.7 cents per kWh — more than twice the typical market rate for power in New England. The contract provides that the price will escalate 3.5% annually.
