National Grid , the largest utility in Massachusetts, agreed in November 2010 to buy half of Cape Wind’s offshore output starting in 2013 at 18.7 cents per kWh, with a 3.5% annual increase.
Those terms were approved by regulators at Department of Public Utilities (DPU), who ruled project benefits outweighed costs, and Massachusetts Attorney General Martha Coakley.
DPU had estimated that electricity over contract life could cost ratepayers between $420m and $695m above market prices.
