Massachusetts ratepayers to pay extra $512M for transmission line for Canadian hydropower

abcnews.go.com:

Three Massachusetts utilities and a transmission line developer have agreed to pass along $512 million in added costs to Massachusetts ratepayers for an electric transmission project in western Maine

PORTLAND, Maine — Three Massachusetts utilities and Central Maine Power’s parent company have agreed that Massachusetts ratepayers must shoulder $512 million in additional costs caused by delays in construction of a power transmission project in Maine that will allow Canadian hydropower to reach the New England power grid.

Proponents said Wednesday that the project aimed at supplying enough clean energy to power about 1 million homes still represents a good deal despite delays and new costs.

“Even with these unanticipated costs, this is clean energy at a pretty good price. I’m not sure we’ll be at prices this low in the future. So we should grit our teeth, absorb the extra expense and get on with it,” said Massachusetts state Sen. Michael Barrett of Lexington, co-chair of the Legislature’s Telecommunications, Utilities and Energy Committee.

The project’s cost grew from $1 billion to at least $1.5 billion because of inflation and delays caused by opponents, requiring the Massachusetts Legislature to give its approval late last year for most of the added costs to be passed on to ratepayers.

The Massachusetts Department of Energy Resources and attorney general’s office signed onto the agreement, which the parties submitted to the state Department of Utilities for approval on Monday.

Supporters of the project say the 1,200 megawatts of electricity it provides would lower electric rates across the region, reduce carbon pollution and help Massachusetts to meet its clean energy goals.

“This transmission line should drive down