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Cape Wind Would Reduce New England Electricity Rates $4.6B Over 25 Years

CapeWindPriceReductionIn the wake of a visit by the head of the U.S. Department of Interior last week, Cape Wind released a study that finds its 468-megawatt offshore wind project in Nantucket Sound will reduce wholesale electric prices for the New England region by $4.6 billion over 25 years by reducing the operations of fossil fuel. This translates into an average savings of $185 million annually.

The report, “Analysis of the Impact of Cape Wind on New England Energy Prices” (PDF), conducted by Charles River Associates, also concludes that the project will provide enough power to supply approximately 10 percent of projected 2013 demand in Southeastern Massachusetts and just over 1 percent of total projected 2013 New England demand.

The study also shows the price of power in the New England wholesale market would be $1.22/MWh lower on average from 2013 to 2037 with Cape Wind.

Cape Wind says it has been undergoing a comprehensive review by 17 federal and state agencies over the past eight years. In January, the U.S. Interior Department announced that it hoped to reach an agreement by March 1 over the long-delayed Cape Wind power project.

The project recently got a boost when it entered into negotiations with National Grid in December last year for an agreement to purchase electricity generated by the proposed offshore wind project

But the boost didn’t last long. In January, the National Park Service agreed with a tribal claim that Nantucket Sound was eligible for a listing on the National Register of Historic Places, reports the Boston Herald.

The Wampanoags say Cape Wind will interfere with their ancient religious rituals, which require an unblocked view of sunrise, and most likely will be built on ancestral burial ground, reports the Boston Herald.

Opponents also say the project threatens aviation, bird life and commercial fishing, reports The Boston Herald.

Furthering delaying a decision by the Interior Secretary, a federal inspector general’s investigation into the Department of Interior’s Minerals Management Service’s environmental review of the proposed wind farm found that several federal agencies felt “rushed” to finish their contributions to the report, reports the Boston Globe. Despite the ruling, no agency believes its overall conclusions changed, according to the article.

The investigation also found the review did not include the most current findings about the impact on air traffic, reports The Boston Globe. According to the article, the Federal Aviation Administration (FAA) found that the 130 proposed wind turbines would be a “presumed hazard” to aircraft, but the report used an outdated FAA finding that determined there was no hazard.

Although the Inspector General’s report found that the final Cape Wind EIS was not the subject of improper political influence or otherwise deficient, Secretary Ken Salazar is directing Deputy Secretary David J. Hayes to work with Interior Solicitor Hilary Tompkins to review the report and provide recommendations to him regarding issues that are material to the Department’s upcoming Cape Wind decision.

After a recent site visit, Salazar now expects to make a final decision on Cape Wind by the end of April, reports Wicked Local. At the same time Cape Wind president Jim Gordon sent out emails to thousands of supporters urging them to submit public comments to the Interior Secretary, according to the article.

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3 thoughts on “Cape Wind Would Reduce New England Electricity Rates $4.6B Over 25 Years

  1. This report comes across as bogus. When you read the disclaimer and see who paid for it, it seems like a paid shill wrote it.
    Didn’t Charles River once work for ENRON?
    I read the entire report and it still does not talk about how much Cape Wind is going to charge the rate payers. It is now 29 cents KW in Rhode Island for offshore wind with National Grid.
    This report also seems to ignore the 70 to 80 million a year in tax and ratepayer subsidies.
    One of the most glaring questions that jump out at me is, why are we looking at a 25 year term on a project that is only slated for 20 years? Could it be a little of that left over ENRON fudge factor going on?
    What good are 50 year round jobs when this project is expected to wipe out thousands of tourist based jobs according to the Suffolk University Beacon Hill Report?
    It seems to me that this is just more slick PR from the private developers marketing team timed for the Salazar comment period and the lawsuits which start today in Boston against the project and the state officials that didn’t do their job either.
    The lawsuit is being brought by the Town of Barnstable and the Cape Cod Commission for ignoring the same information that this paid propaganda piece ignored.
    I will be glad when this project moves to the alternate site or is properly denied by Sec Salazar.

  2. Clean Energy does not have to, nor should it ever, come to America through the suffering of her people. When a situation arises where people’s physical, cultural, or spiritual well being is threatened, this entire nation must collectively say NO.

    Wind and sun are from our Creator, and they exist in such abundance that they can be harvested without harm. Any business claiming otherwise should be looked at askance because they have not done their homework, they are using outdated technology — or worse.

    Should people suffer in the name of”clean energy,” it would be tragic on numerous levels. First, of course, is human. Next is by the indelible stain that sociopathic actions will place upon the clean energy movement. In the end, Mother Earth will suffer as her children turn their faces away from such immorality.

    CLEAN ENERGY NOW is a choice we can make if we can just open our minds to the idea of having a choice. Right now, our generation has options available unlike ever before, as our government prepares to step away from fossil-fuel energy production. We have to take responsibility for doing this right, though.

    Energy grids are huge and permanent, both as physical structures and as systems of power delivery. Also, they require Americans to be dependent on them; otherwise, no investors will commit the big $$$ it takes to build them. Unfortunately, energy grids also require tremendous time to plan, permit, and construct — time during which carbon emissions grow and damage.

    CLEAN ENERGY NOW is available whenever customers are ready to step away from the grid. The IMMEDIATE PAYOFF is less carbon pollution. By reusing, refurbishing, and retrofitting our own homes, buildings, and businesses with wind & solar generators, we make a cleaner Earth now and for future generations. Each one is reduction!!!!

    Long-term payoff is personal and community energy independence. Unfortunately, there are profiteers out there who will wrangle indefinitely to best ensure the size of their profits. They masquerade in “green” so that conscientious people will flock to them as potential customers. Marketing strategies, AKA Greenwashing will not satisfy our energy needs nor will it provide CLEAN ENERGY NOW.

    We can do much better than that, America. We have choices. Immediately, we can eliminate our use of energy-producing businesses that prey upon our conscientiousness. Then we can demand that anyone taking control of America’s energy grid conduct business at the highest standards of human, social, and environmental integrity.

  3. Cape Wind paid for this study that is no more than an misinfomercial.

    Cape Wind is a Ponzi scheme. Brian Caffyn is the original investor in IVPC and Cape Wind. There are no public benefits as there were no public benefits with Enron.

    Mafia Tied to Wind Fraud in Italy
    Posted By Environmental Leader On November 17, 2009 @ 8:11 am

    In Carbon Finance & Offsets, Clean Energy, Feature, Financial, Funding & Incentives, Policy & Law, Wind Energy |

    Italian finance police have arrested two prominent businessmen — including one with ties to a former investor in the Cape Wind project in Nantucket — in the wind energy sector on charges of fraud, reports the Financial Times [1]. Arrested were Oreste Vigorito, head of the IVPC energy company and president of Italy ’s National Association of Wind Energy, and Vito Nicastri, a Sicilian business associate, according to the article.

    According to the European Committee For A Constructive Tomorrow [2], Oreste Vigorito has ties to Brian Caffyn, a former investor in the Cape Wind project [3], which has been criticized as a poor investment for taxpayers, reports Dakota Voice [4].

    Vigorito once owned IVPC with Brian Caffyn, founder of Cape Wind and First Wind, according to the Boston Herald [5].

    http://www.environmentalleader.com/2009/11/17/mafia-tied-to-wind-fraud-in-italy/

    The driver behind IVPC is US wind developer UPC through its UPC International Partnership CV…”

    http://www.projectfinancemagazine.com/default.asp?page=7&PubID=4&ISS=10883&SID=432546

    http://www.americanthinker.com/2010/02/wind_energys_ghosts_1.html

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