Massachusetts ratepayers to pay extra US$512-million for transmission line for Canadian hydropower [Globe and Mail, The (Toronto, Canada)]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: Globe and Mail, The
that Massachusetts ratepayers must shoulder $512-million in additional costs caused by delays in construction of a power transmission project in Maine that will allow 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 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
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