Alliance to Protect Nantucket Sound released statement regarding the NStar agreement to buy 27.5% of Cape Wind.
“Ratepayers, municipalities, and businesses will be saddled with increased electric bills because of the state’s arm-twisting to force NStar to purchase power from this wildly overpriced project. Gov. Patrick has forced NStar to agree to this purchase as a condition of approving a merger between NStar and Northeast Utilities over the repeated objections of NStar CEO Tom May. It is obvious, it is anti-consumer, and it ought to be illegal.
Ratepayers should be comforted by the fact that after 10 years of fighting, it is clear that Cape Wind will never be built. The US District Court of Appeals has revoked a key permit from the Federal Aviation Administration, Cape Wind has been denied a $2 billion loan guarantee and faces numerous lawsuits and financial hurdles. Ratepayers are not going to stand still for the kind of bills that the Governor, NStar, National Grid, and Cape Wind want to impose on them when other green energy is available at a fraction of the price.”
[mappress] Offshore Wind Staff , February 16, 2012; Image: saveoursound