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Massachusetts ratepayers to pay extra $512M for transmission line for Canadian hydropower [Yahoo! Finance Canada]

Avangrid, Inc. (AGR) 
Last avangrid, inc. earnings: 4/28 04:15 pm Check Earnings Report
Canadian hydropower to reach the New England power grid. Proponents said Wednesday that the project aimed at supplying enough clean energy to power about 1 million homes still represents a good deal for ratepayers and the environment despite delays and new costs. “Even with these unanticipated costs, this is clean energy at a pretty good price. I'm not sure we'll be at prices this low in the future. So we should grit our teeth, absorb the extra expense and get on with it,” said Massachusetts state Sen. Michael Barrett of Lexington, co-chair of the Legislature's Telecommunications, Utilities and Energy Committee. The project's cost grew from $1 billion to at least $1.5 billion because of inflation and delays caused by opponents, requiring the Massachusetts Legislature to give its approval late last year for most of the added costs to be passed on to ratepayers. The Massachusetts Department of Energy Resources and attorney general's office signed onto the agreement, which the p Show less Read more
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