New Study: Cape Wind to reduce regional electricity prices by $4.6BB

10 February 2010 - Cape Wind said it will reduce wholesale electric prices for the New England region by $4.6 billion over 25 years, according to a report published by Charles River Associates.

The report found that Cape Wind will place downward pressure on the wholesale clearing price of electricity by reducing operations of higher priced and polluting fossil fueled units. This will result in average savings of $185 million per year in New England.

According to Cape Wind President Jim Gordon, "By reducing operations of higher priced fossil fuel units, Cape Wind will reduce regional electric prices, reduce pollutant and greenhouse gas emissions while increasing our energy independence."

The project will also create 600-1,000 clean energy construction jobs and 50 permanent jobs.

The Charles River Associates report is entitled, ˜Analysis of the Impact of Cape Wind on New England Energy Prices', and was commissioned by Cape Wind. The full report can be downloaded from Cape Wind's website.



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