Massachusetts law requires that utilities obtain 3.5% of their power from “green sources”. One of the projects that has finally received approval is called Cape Wind. This will place 130 wind turbines in a 25 square mile area on public land in Nantucket Sound. It will be owned by a private developer, and, all that is missing now is financing. I suspect that means, money from Washington, D.C.
In a recent opinion piece entitled “Nantucket’s Wind Power Rip-off”, Robert F. Kennedy, Jr. reviewed the available information about the cost of electricity that will come from Cape Wind. I hasten to add that the Kennedy’s have been long time opponents of this project (it was first proposed in 2002). But, having said that, I have no reason to doubt the figures included in the article as they come from filings by NSTAR, one of the state’s two power suppliers (the other is National Grid), to demonstrate compliance with Massachusetts law.
NSTAR has contracted with several land based wind farms and,
…these contracts come in at $111 million below market averages [for wind power] over the standard contract period of 15 years. The price of Cape Wind comes in at $1 billion above market averages according to Cape Wind’s own regulatory filings…
So, it really should come as no surprise that NSTAR does not want to buy power from Cape Wind. However, the state may force them to do so.
…[A]fter years of fighting off pressure by the state of Massachusetts to jam its customers with higher costs, [NSTAR] is being told to accept the higher costs after all. The state’s leverage? A proposed merger of NSTAR with Northeast Utilities…In effect, the state administration is trying to hold hostage the proposed NSTAR-Northeast Utilities merger unless the [merged company] agree[s] to by Cape Wind’s power.
So, the state rate payers be damned. It’s all about “helping” the private developers of Cape Wind make a boatload of money.
To those on the left who wonder why those on the right want to keep government out of their lives, look no further than this.