Statement on NSTAR Merger Settlement Agreement
Wednesday, February 15, 2012
BOSTON, MA -- Statement of Jim Gordon, President of Cape Wind:
"Today's announcement by Governor Patrick represents a major step forward in making Massachusetts a leader in offshore wind power and attaining the jobs, clean air and energy independence benefits that Cape Wind will provide. By including Cape Wind in this utility merger Settlement Agreement, NSTAR and the Patrick Administration are helping ensure that Cape Wind will supply up to 500,000 homes with locally harvested renewable energy and create hundreds of new jobs. While Massachusetts may be at the end of the energy pipeline for oil, coal and natural gas, we do have an abundant and inexhaustible supply of offshore wind and we will harness it for a better energy future. Today's announcement also affords NSTAR and its customers the unique opportunity to bring to fruition the critical objectives adopted by the Legislature when it unanimously enacted the landmark Green Communities Act in 2008, namely reductions in pollution and greenhouse gas emissions, increased electric reliability and sustainable economic development. While future fuel prices are uncertain, the Massachusetts Department of Public Utilities has determined that Cape Wind provides a unique set of benefits for Massachusetts and is cost-effective and will place downward pressure on wholesale energy prices while avoiding the external costs of burning fossil fuels. We are excited to move forward."
Click here to read the updated 'Cape Wind & Massachusetts' report that sets this announcement in a broader context.