OFFSHORE WIND FARMS LIKELY MEANS INCREASED RATES

An effort to go green will cost extra green. Legislatures looked at the proposed Offshore Wind Economic Development Act and during that discussion, many leaders said the price for electric would go up as a result. Ratepayers could pay anywhere from $5 to 14 billion more over the next 20 years, depending on which expert you listen to. Some lawmakers said the true price is not known yet, but rates will indeed go up. The payoff they said is that additional jobs will be created cultivating wind power.

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