11 Mar '12, 5pm

Offshore Wind Power: Penny Foolish, Dollar Wise: Filed under: Energy News

Offshore Wind Power: Penny Foolish, Dollar Wise: Filed under: Energy News

2010 Study by Charles River Associates [pdf] found that Cape Wind would lower prices on the New England wholesale market by 0.122 cents on average. Since Cape Wind itself would be producing about 1% of all power on the New England market, the extra 14 cents per kWh on that power would be offset by a savings of .122 cents per kWh on all other power. By my calculations, the combination of price suppression and the increased direct price of power from Cape Wind, the net effect on the average price of power in New England of Cape Wind would be an increase of only 0.02 (one fiftieth) of a cent, assuming the Charles River Associates study is accurate. That's almost certainly less than the likely error in any such calculation, meaning that the extra cost for Cape Wind would be effectively zero. Put another way, even if customers pay a 12.2 cent per kWh premium for power from Cape...

Full article: http://www.altenergystocks.com/archives/2012/03/offshore_...

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