The facts are the facts. If approved, Cape Wind will represent the largest ratepayer commitment in recent history - a decades-long mortgage paid by ratepayers.
In today’s Boston Herald, the developers of Cape Wind are attempting to silence this and other significant facts about the project. AIM recently filed as a full intervener in the review of the National Grid and Cape Wind project proposal citing significant cost implications in addition to a substantial lack of transparency with the proposal.
The ongoing controversy with Cape Wind is now being discussed in public hearings and provides a primary example of the state’s current posture – increase the cost of electricity on Massachusetts businesses and ratepayers to pay for boutique projects like Cape Wind. Today’s Boston Globe highlights the ongoing public debate regarding Massachusetts’ public policy toward electricity which has resulted in increased costs for businesses and ratepayers. FOX 25 television also aired a story recently about the staggering costs of the project.
AIM’s filing shows how the Cape Wind project provides another example of how Massachusetts will again have a "significant impact" on employers and should concern all Massachusetts ratepayers. Among other significant concerns, the association has already expressed the following about the project:
- It threatens to raise already high electric bills by $50,000 to $100,000 for medium-sized companies in the first year alone and
- This additional cost is on top of the $2-$3 billion dollars added in recent years to subsidize other renewable energy projects and programs
Employers are not silent about these cost increases. Wal-Mart, an AIM member, also filed complaints regarding the project’s costs. In today’s Boston Globe, the employer questioned the National Grid’s cost estimates and how the cost will be passed on to customers.
AIM supports a diversified energy portfolio to meet the Commonwealth's energy demands, which should include cost effective renewable energy initiatives. Cape Wind is not the answer. The Cape Wind project is double the price of other renewable energy sources and there are other ways to get to the same goal in manner that is much cheaper and does not come at the expense of losing Massachusetts headquartered businesses and jobs. Employers and jobs are leaving the state or at worse shuttering because Massachusetts has one of the highest costs of electricity in the nation.
AIM members can contact Robert Rio, Senior Vice President of Government Affairs, by callling 617-262-1180 or by email firstname.lastname@example.org for more information about these cost implications for your business.