A budget signed by Massachusetts Gov. Maura Healey this week will allow utilities to raise rates to make up for hundreds of millions of dollars in additional costs to complete a transmission line to bring Canadian hydropower to the New England electricity grid. The head of Central Maine Power Co.’s corporate parent Avangrid has said the cost of the $1 billion project grew to $1.5 billion as litigation delayed construction and inflation caused prices to creep upward. Legislation included in the supplemental budget adopted Monday allows transmission service agreements to be renegotiated and additional costs to be passed along to Massachusetts ratepayers to cover the added costs. The project was envisioned to meet Massachusetts’ clean energy goals, and the cost is fully borne by ratepayers in that state.
https://www.theday.com/state/20231205/massachusetts-budget-approval-allows-utilities-to-recoup-added-cost-of-hydropower-corridor/