Power Purchase Agreements
Cape Wind has signed a power purchase agreement with National Grid to sell half the project's output (i.e. about 750GW·h per year) for an initial price of 20.7 ¢/kW·h (later agreed at 18.7¢) — a price more than twice current retail rates. The deal is subject to approval by the Massachusetts Department of Public Utilities (PUC). In February 2012, NSTAR Utility agreed to a PPA equivalent of 129 MW capacity, a demand from PUC for allowing NSTAR and Northeast Utilities to complete a $4.8 billion merger. The second power purchase agreement with state utility NStar for 27.5 percent of the output has also been approved by Massachusetts regulators.
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