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CAPE LIGHT COMPACT Program Update

This brief provides an update on the Cape Light Compact program, including their operations in energy efficiency, renewable energy, consumer protection, and power supply. It also highlights the Compact's partnership with Mirant Corp. to provide competitive supply for 45,000 customers.

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CAPE LIGHT COMPACT Program Update

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  1. CAPE LIGHT COMPACTProgram Update Massachusetts Electric Restructuring Roundtable April 12, 2002 RIDLEY & ASSOCIATES, INC.

  2. BRIEF BACKGROUND • The Cape Light Compact: regional organization of all 21 towns and two counties on Cape Cod and Martha’s Vineyard • Formed: 1997/98 based on 1995/96 studies • Comprehensive Approach: power supply, energy efficiency, renewable energy, consumer protection • Member: New England ISO, Northeast Energy Efficiency Partnership, Interstate Renewable Energy Council

  3. CURRENT OPERATIONS • Energy Efficiency: operates regional energy efficiency program • Renewable Energy: undertaking study of renewable energy potential for the region • Consumer Protection: working with a network of human service providers on efforts to boost enrollment of low income consumers in the electric discount program • Power Supply: launching a program with Mirant Corp. for competitive supply for 45,000 customers currently on default service

  4. COMPACT/MIRANT SUPPLY • Result of DTE Competitive Market Initiative/support of DOER/cooperation of NSTAR/conducive market conditions • Supply project establishes a Pilot with benefits for consumers, policy-makers, competitive suppliers • Will nearly triple the number of consumers on competitive supply; first time a significant number of residential and small business customers in Massachusetts receive competitive supply benefits

  5. Key Elements • 20 month contract with one year extension • All Default Service customers eligible • Flat prices of 4.898 cents/kWh in 2002 and 4.798 cents in 2003 • Green Power Supply: 3 consumer options • Consumer Protections • Public Aggregation (opt-out process)

  6. BENEFITS FOR MARKET • Brings balance to marketplace creating mutually beneficial supplier/consumer agreement • Brings large block of customers represented by stable entity to market allowing reduction of transaction and transition costs • Offers benchmarks on price, options, protections • Produces real benefits • Provides model and experience

  7. Current Activities • Public Aggregation (opt-out) process proceeding • Customer Service Center in operation • Team meetings Mirant/NSTAR/Compact on-going • Start-up for competitive supply May 1

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