Turns out, offshore wind doesn’t have to raise your electric bills.
Electricity prices for Vineyard Wind, set to become the first large-scale offshore wind farm in the United States, will actually lower consumer electric bills by a small margin, generally 20 to 40 cents on a $100 monthly bill, according to documents made public Wednesday.
Some customers’ savings will be slightly lower or higher, depending on location and usage.
Massachusetts’ three electricity distribution companies finished negotiating their power contracts with Vineyard Wind and filed those contracts Tuesday with the Department of Public Utilities for approval.
The pricing stands in contrast with the previously proposed Cape Wind project, which at one point was projected to raise a typical monthly bill by $1.08.