Posted: Nov 22, 2010 7:21 PM by Michael Marsh
Updated: Nov 22, 2010 7:21 PM
Source: Associated Press
Regulators in Massachusetts approved a power-purchase deal between the nation's first offshore wind farm and its first customer, National Grid. The Cape Wind turbine farm is planned for Nantucket Sound and will have 130-turbines. National Grid agreed to buy half the power generated and the Massachusetts Department of Public Utilities was charged with deciding if it was a good deal. National Grid agreed to a starting price of 18.7 cents per kilowatt hour, about twice what it pays for power from conventional sources and says the deal with save rate payers money long-term.