Following an eight month review, state utility regulators Monday approved NStar’s 15-year contract to buy power from Cape Wind, a deal expected to only moderately increase the average residential customer’s monthly electric bill. The Boston-based utility will purchase 27.5 percent of the power generated by the offshore renewable energy project for a starting price of 18.7 cents per kilowatt hour in 2013. The cost paid by the utility will then rise by 3.5 percent each year.
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