The Massachusetts Department of Public Utilities (DPU) has issued an order approving long-term contracts for 804MW of offshore wind between Mayflower Wind and the Commonwealth’s Electric Distribution Companies. Mayflower Wind’s bid to develop an offshore wind facility was selected for contract negotiation in October 2019.
At a total levelised price of 7.8 cents/kilowatt hour in nominal dollars, this project is expected to provide approximately 0.1% to 1.8% savings on customer’s monthly energy bills, all other bill impacts remaining equal. Overall, the total net benefits, including both direct and indirect benefits, to Massachusetts ratepayers over the life of the contract are expected to be approximately $2.4 billion.
Additionally, the contracts include a $77.5 million commitment to support the offshore wind industry, scientific research, and economic development in Massachusetts and the South Coast, including:
- $55 million to MassCEC for the creation of an Offshore Wind Development Fund that will fund port and infrastructure upgrades, workforce training, innovation seed funding, and applied research
- $10 million for marine science and fisheries research
- $7.5 million for port upgrades
- $5 million for low-income strategic electrification with Cape Light Compact (CLC)