Update to the Analysis of the Impact of Cape Wind on Lowering New England Energy Prices

Cape Wind Associates, LLC
Charles River Associates (CRA)

Using updated input assumptions, the report projected wholesale power prices over the period 2014-2038, for scenarios with and without Cape Wind in service, and quantified the expected reduction in wholesale power prices and wholesale electricity costs that would result from the power supplied by the project. The report found that Cape Wind would lead to a reduction in the wholesale cost of power averaging $286 million annually over the years 2014–2038, resulting in an aggregate savings of $7.2 billion over 25 years. If Cape Wind were in service, the price of power in the New England wholesale market is projected to be $1.86/MWh lower on average. Over the combined 16-year period spanning construction and the first 15 years of operations, Cape Wind would create an average estimated net addition of 514 jobs in Massachusetts and 1,119 jobs in New England.

Publication Date: 
Thursday, March 29, 2012
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