House chair of the Legislature’s energy committee, Representative Jeff Roy, supports removing the price cap. But his cochair, Senator Mike Barrett, pleaded against it, arguing it could cause electricity prices to jump and thereby put ratepayers at risk.
He noted New York, Connecticut, and New Jersey, none of which have caps on the price of offshore wind projects, have each paid much more for offshore wind than Massachusetts has so far. For instance, while power from the Commonwealth’s Mayflower Wind project will come with a cost of $58 per megawatt hour, New Jersey is paying twice that much for energy from its Ocean Wind project.
“I want to ask the two of you whether you want to run the risk of these kinds of figures if we simply jettison the cap altogether,” Barrett said, addressing Baker and Theoharides.
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