Coakley: I’ll Review Cape Wind Rate Deal

By The Associated Press
May 21, 2010, 4:03 AM
Comment

BOSTON — Attorney General Martha Coakley is promising to review a power-purchasing deal announced earlier this month between the offshore Cape Wind project and the utility National Grid.

Under the 15-year contract, National Grid would pay 20.7 cents per kilowatt hour starting in 2013 for electricity purchased from Cape Wind. That could add an estimated $1.50 to the average customer’s monthly electricity bill.

Coakley, who supports the project, said that as the state’s official ratepayer advocate, her office will take a look at the deal to see if it’s fair for consumers.
She made her comments during her monthly radio show on WTKK-FM on Thursday.

Gov. Deval Patrick supports the project, saying it could offset future spikes in the price of natural gas.

State regulators must still approve the deal.

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