You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Around the Region

NStar deal with Cape Wind gets OK

Following an eight-month review, state utility regulators on Monday approved NStar’s 15-year contract to buy power from Cape Wind, a deal that is expected to moderately increase the average residential customer’s monthly bill for electricity.

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 rise by 3.5 percent each subsequent year.

Continue reading below

NStar residential electric customers can expect to see their bill rise by about $1.16 a month, on average.

Regulators signed off on the deal after finding the “benefits of the contract exceeded its costs” and that it provides “adequate protections” for ratepayers, according to a statement from the Massachusetts Department of Public Utilities.

The wind farm will help the state meet its aggressive goals to use more renewable energy sources and reduce greenhouse gas emissions.

The utility agency’s approval was largely expected, given that regulators approved a similar deal between Cape Wind and National Grid in ­November 2010.

Finding paying customers such as NStar was considered a key step for Cape Wind to attract financing to build the controversial wind farm.

Erin Ailworth can be reached at Follow her on Twitter @ailworth.
Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of