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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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