Press Release - Statement: Cape Wind Beaten in the Marketplace

September 23, 2013

Statement of the Alliance to Protect Nantucket Sound:

The announcement today that Massachusetts utilities will be purchasing green wind power from New Hampshire and Maine facilities at an average price of less than 8 cents per kilowatt hour is the death knell for Cape Wind.  Support for Cape Wind’s massive price tag to ratepayers was based on the idea that we needed to pay more – much more – for green energy.  Today’s competitively bid deals prove otherwise. Cape Wind’s contracts with National Grid and NStar call for a minimum price of 19 cents per kwh rising 3.5% per year to reach over 30 cents per kwh in the final year.  No utility, business or consumer should be forced to underwrite a private developer at more than three times the cost of readily available green energy from other sources.

“With today’s contract announcement, the residents of Cape Cod and the Islands, as well as ratepayers across the state, have a right to ask why they are being forced to needlessly pay billions of dollars extra in electricity costs.  The twelve year old project is outdated, overpriced and has been beaten fairly and squarely in the marketplace by cheaper wind power. It is time to pull the plug.”