Cape Wind would reduce consumer costs.
There is no savings to the ratepayer and, in fact, the power will be far more costly.
National Grid's contract with Cape Wind calls for a starting energy price of 18.7 cents per kilowatt hour, with a 3.5% yearly increase for 15 years. This contract is approximately 230% over the current market price of electricity, which is about 8.1 cents per kilowatt hour. Cape Wind's cost is almost double that of land-based wind power from Maine and elsewhere. The total costs associated with this contract amount to a $4 billion dollar energy tax above market price. This will be harmful to businesses and cities and towns across the state, who will have to cut jobs in order to pay for the extra costs in their energy bills. A typical suburban hospital will pay $30,000 extra for Cape Wind if they are a National Grid customer. Fuel prices are not expected to rise to the level of Cape Wind in the near future. By the end of the life of the contract, Cape Wind's power costs will be aroudn 33 cents per kilowatt hour.
to read Bob Patterson's report on the True Cost of Cape Wind.