CMP touts $950M bid as best deal among clean energy bidders

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Central Maine Power revealed Wednesday its previously undisclosed bid price for delivering 1,200 megawatts of clean energy to Massachusetts, stating the $950 million New England Clean Energy Connect project would save Bay State ratepayers more than $600 million in construction and related costs compared to the reported costs of competing projects.

"The NECEC is the only proposal capable of firm delivery of 1,200 megawatts of renewable energy that provides maximum environmental and energy benefits at less cost than any competing proposal," CMP stated in its news release. "The transmission project has received wide support from host communities and business leaders in Maine, and is on track to receive necessary state and federal permitting reviews in 2018."

Bob Kump, CEO of Avangrid Networks (NYSE: AGR), said NECEC would deliver "up to 20% more clean energy for the region's utility customers with lower construction costs than any of the competing proposals that are interconnecting with Hydro-Quebec."

In a Q&A with Mainebiz earlier this fall, CMP President and CEO Sara Burns said the company's proposal to tap more than 1,000MW of hydropower from Hydro-Quebec was one of three bids submitted to the Massachusetts Clean Energy RFP involving Hydro-Quebec.