ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel


Updated on July 9, 2010


There is a fundmental inequity in the Cape Wind review process. Cape Wind's CEO, Jim Gordon, loves more than just privacy; he thrives on secrecy. He wants to seize the heart of Nantucket Sound, twenty-five square miles, for his personal gain and he wants to force a million or so Massachusetts electric customers to pay more for their electricity so that he may profit, make more than the two hundred million dollars he has already made. But, he will tell us nothing about the details of his deal to build Cape Wind.

For five years he claimed he would be using wind turbines that had been discontinued by their manufacturer. Now he claims he will be using another manufacturer's turbines but we do not know if there is a purchase agreement. He claims to have kept fastidious wind data records gathered at his data tower in Nantucket Sound, but he will not make his wind data public. He claims he is easily able to finance the Cape Wind project, but he will not say who will finance it or how - whether debt or equity or a mix of the two.

While the Massachusetts Department of Public Utilitiess plods through the process of reviewing and either approving or denying the power purchase agreement Cape Wind and National Grid have presented we are able to see portions of the draft agreement, but financial particulars are left hidden from the public. The public domain will be the site of Cape Wind and the public process of the DPU will be what determines if electric customers are forced to pay Gordon's rates, but he will not say how much he expects to profit from the process. National Grid is a publicly traded corporation so every detail of their finances is available for review by the public. Not so Cape Wind Associates LLC. It is a private entity and is not subject to very much disclosure, even though all of its income and value derive from public process.

This is similar to the situation in the nineteen nineties when the Boston press decided to go on a tear about salaries and other compensation for executives at the Boston Edison Company. By coincidence, it was at approximately the same time that Boston Edison was saying no to a proposal for a power purchase agreement from Jim Gordon whereby Edison would have paid an above market rate for electricity generated by two power plants that Gordon owned. Of course, it was easy for the Boston Globe to discover how much Edison executives were paid because Edison was a publicly traded company. Gordon's Energy Manangement LLC was not, is not to this day.

If Jim Gordon is being straight with us about his project and its potential, why does he insist on so much secrecy? How much money is he hiding? How much is he hiding of his potential earnings and our potential costs? Is he afraid that if we knew the whole truth he would be dead in the water, so to speak? Who are his partners, or who will they be?

While National Grid, as a publicly traded corporation, must make its financial information publicly available, including costs, profits and executive compensation, Cape Wind Associates, LLC is under no such burden. And, National Grid is limited to a maximuim profit of just over ten percent on the electricity they transmit plus some additional mark-ups for renewable energy. But their bottom line has clear upper limits. Not so Cape Wind. The rate paying public can easily discover how much National Grid would make under its power purchase agreement with Cape Wind, but no additional information about Cape Wind's take on the deal will be available beyond the simple price quoted per kilowatt of energy purchased. They will simply pay, and pay and pay and pay...

So many questions - so few answers. It all seems so unfair.

Copyright 2010 by Peter A. Kenney


    0 of 8192 characters used
    Post Comment

    No comments yet.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)