Mega-retailer Wal-Mart (NYSE: WMT) filed a complaint with the state of Massachusetts last week over the price structure for electricity proposed for the Cape Wind offshore wind project.
The utility National Grid (NYSE: NGG) has agreed to purchase 50% of the wind farm's output for 20.7 cents per kilowatt hour, beginning in 2013.
According to a Boston Globe story, the rate is roughly twice the current basic residential rate for conventional power. And Wal-Mart, which spends $2 million on power for its Massachusetts stores, says the contract will inflate this cost.
A Wal-Mart spokesperson said the company “supports the intent of the Cape Wind project,’’ but questions National Grid’s cost estimates.
This is just the latest in a long line of complaints about the first offshore wind project planned in the U.S. Cape Wind received its final federal approval in April from Secretary of the Interior Ken Salazar.
Read the Wal-Mart story at the link below.
