Vineyard Wind contracts expected to cut Mass. electricity bills by $1.4 billion

BOSTON (WWLP) – The Healey-Driscoll Administration announced the activation of Vineyard Wind contracts, which will save Massachusetts customers a projected $1.4 billion on electricity bills over the next 20 years.

Massachusetts customers are expected to see an average of 1.4 cents per kilowatt-hour in direct bill savings, a price that is less than half of the peak pricing observed this past winter.

A report from Acadia Center indicated that during a week-long deep freeze earlier this year, wind generation peaked, reaching near-record performance levels. The report suggested that offshore wind could have saved New England ratepayers at least $400 million in utility bill costs during the winter of 2024/2025, reducing energy market prices by 11% and protecting ratepayers from expensive and volatile natural gas markets.

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