AG backs new plan on price of energy, She urges approval of National Grid’s deal with Cape Wind

Attorney General Martha Coakley yesterday urged state regulators to approve National Grid’s contract to purchase electricity from the offshore energy project Cape Wind, after she got the two companies to agree to a nearly 10 percent reduction in the price of the wind power.

...The altered deal, which Coakley described as “in the public interest,’’ still needs to be approved by the Department of Public Utilities.

Under the revised contract, National Grid electricity customers who use an average of 600 kilowatt hours of power a month would pay just under $1.50 more on their electric bills in 2013, when the contract begins, according to estimates provided by the utility. That’s about 40 cents less than what the original contract would have cost.
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