Vineyard Wind contracts to save Mass. customers $1.4 billion on electricity bills, Healey says

BOSTON — The governor on Monday announced the activation of the Vineyard Wind contracts, pledging that the venture will save Massachusetts customers a projected $1.4 billion on electricity bills over the next 20 years.

Vineyard Wind is an 806-megawatt project located 14 miles off the coast of Massachusetts. It has been producing power since January 2024.

Offshore wind has its highest output in the coldest winter months when the New England grid is most constrained, officials said.

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

To read the full article from Boston 25, click here.