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Popular Posts
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- Boeing to Showcase 787 Dreamliner at 2012 Singapore Airshow
“The more power that is secured in a long-term power agreement, the better,” he said. “It helps attract the private capital that’s needed, both in the form of debt and equity to build the project.”
The price NStar and Northeast Utilities will pay for Cape Wind’s power is still subject to negotiation, NStar spokeswoman Caroline Allen said.
Cape Wind was proposed in 2001 but has met tough resistance. Opponents state the power is overpriced: For instance, the starting price in the National Grid deal is 18.7 cents per kilowatts hour and increases annually, while land wind can be had for about 10 cents an hour. They also complain the project will mar a pristine area. Various lawsuits are pending against the project.
NStar initially seemed cool to Cape Wind, with chief executive Tom May saying he was “agnostic” about the project. The utility also passed on buying from Cape Wind when it first had the chance, choosing cheaper land wind instead.
Cape Wind opponents have accused the state with using the merger approval to force NStar to power from a favored project, but NStar’s Allen said the deal announced Wednesday wasn’t a result of pressure from Massachusetts officials.
Democratic Gov. Deval Patrick, during a Statehouse news conference, downplayed the relative importance of the Cape Wind portion of the overall agreement and stated it was not a “sticking point” in negotiations.
“The value of the rate freeze and the potential to have rates go down is considerably more important and bigger in scale than the Cape Wind component of this,” he said.
Cape Wind opponent Audra Parker, of the Alliance to Protect Nantucket Sound, did not believe it, saying state energy customers will pay more because of the state’s “arm twisting” of NStar. But she said that after a decade of trying, and despite the deal with NStar, she’s convinced Cape Wind will not be built and the NStar deal matter.
“Twenty seven percent of nothing is still nothing,” she said.
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Associated Press writer Stephen Singer in Hartford, Conn., contributed to this report.
