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Community Corner

CLC _ CVEC More Loans ????

To: All Municipal Members of the Cape Light Compact, Cape & Vineyard Electric Cooperative, other interested parties

Please provide a copy of this correspondence and attached correspondence to town / county counsel, town / county administrator and all members of the Board of Selectmen, Energy Committee and Finance Committee.


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The Department of Public Utilities has scheduled a public hearing on the Revised Aggregation Plan of the Cape Light Compact under DPU Docket 13-69 in Mashpee, MA at 6 p.m. on Wednesday, May 14, 2014.

The Cape Light Compact Governing Board will meet earlier on that same day to consider a request by the Cape & Vineyard Electric Cooperative for additional financial subsidies to pay the expenses of CVEC through FY2015.

Additionally, CVEC had determined that it will need a "loan" of at least $100,000 to bridge a financing gap between payments for electricity on CVEC projects and reimbursement of net metering credits from NSTAR. 

It currently appears that CVEC intends to ask the Cape Light Compact to provide this additional capital to CVEC, possibly in concert with the Barnstable County Government as a conduit for the financing (as with the current $100,000 commitment of ratepayer funds by CLC to guarantee certain obligations of CVEC). 

Please note that since the President of CVEC refuses to publish the CVEC meeting exhibits, including the approved CVEC Budget and CVEC Interim Financial Statements and Projections, to the CVEC website until sometime in June, it is impossible at this time to understand the scope of CVEC's financial requirements for FY2015.

Please note, however, that CVEC's minutes for the meeting of March 27, 2014 make it abundantly clear that CVEC has already incurred a substantial overrun in budgeted legal costs for FY2014 which must be funded.

I encourage all members of the public and all of the Appointing Members of CLC and CVEC -- members of the member Boards of Selectmen -- and other public officials to attend the public hearing on the CLC's petition to the DPU to approve the substantive Proposed Revisions to  CLC's current Aggregation Plan.

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