Cape Cod Electric Rates- Customers Dig Deep
Posted in the Massachusetts Forum
#1 Mar 11, 2014
Cape Cod - Massachusetts
Electric ratepayers are the biggest losersMarch 11, 2014
Cape Light Compact's proposed aggregation plan revisions are slated for a vote Wednesday by the governing board, which is made up of one member from each Cape and Vineyard town. Numerous problems abound. Here are a few:
If the revisions are passed, the compact no longer is charged to obtain the "best price" for ratepayers, only "best terms and conditions." Additionally, originally restricted uses of funds collected from ratepayers ($1.2 million worth) will become less restricted, with less authority of supervision/oversight/transpar ency.
Changes redefine the Cape & Vineyard Electric Cooperative, founded in 2007, as a "new program." The compact's involvement with the cooperative, and ratepayer subsidy of the cooperative (at least $3.2 million), are not disclosed. Transparency regarding the cooperative is stopped without ever once identifying a tangible benefit to ratepayers.
The compact has a budget of $35 million, larger than Barnstable County's budget. The Assembly of Delegates, our legislative arm of county government, has requested a review of the compact from the state inspector general and attorney general. It is a "Profiles in Courage" moment for the compact's governing board members to reject the proposed changes and instead institute transparency, openness and cost savings for ratepayers.
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