Nstar May Pay $940M Extra For Cape Wind Power

Law360, New York (April 2, 2012, 6:58 PM EDT) -- Nstar Electric Co.’s proposed purchase of power from Massachusetts-based Cape Wind Associates LLC’s controversial offshore wind farm will cost at least $940 million more than the cost of conventional electricity throughout the 15-year contract, according to the company’s proposal filed Friday.

Despite the $1.6 billion total cost of the purchase, which takes into account several assumed tax credits and has been raising the eyebrows of some Massachusetts residents, Nstar and Cape Wind insist the project is the most cost-effective long-term solution to obtaining clean electricity....
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