Sunday, April 16, 2017
Gouged with still lower cost to TMLWP?
When will the light shine like we were told it would?
Our Light bills should Be “LIGHTER”
On July 1, MMWEC made the final payments required to retire the bonds issued for its Nuclear Mix No. 1 Power Supply Project, which represents a 19.6-megawatt ownership interest in Millstone Unit 3 and a 2-megawatt ownership interest in Seabrook Station. Via Nuclear Mix No. 1 and four other power supply projects, MMWEC owns 4.8% of Millstone Unit 3 and 11.59% of Seabrook Station. A total of $167.1 million in MMWEC debt associated with these other power supply projects remains outstanding but is scheduled for retirement by 2019, at which point all of MMWEC’s power supply projects will be debt-free.
In the case of Nuclear Mix No. 1, there will be no debt service expenses after July 1 for the 25 participating municipal utilities, which are based in the communities of Ashburnham, Boylston, Danvers, Georgetown, Groton, Hingham, Holden, Holyoke, Hudson, Hull, Ipswich, Littleton, Mansfield, Marblehead, Middleborough, Middleton, North Attleborough, Paxton, Peabody, Reading, Shrewsbury, Templeton, Wakefield, West Boylston and Westfield. MMWEC is a non-profit, public corporation and political subdivision of the Commonwealth of Massachusetts created by an Act of the General Assembly in 1975 and authorized to issue debt to finance a wide range of energy facilities. MMWEC provides a variety of power supply, financial, risk management and other services to the state’s consumer-owned, municipal utilities.
With many factors increasing the inflow of money to TMLWP a town owned department. One would think the reason we have been charged extra for the Nuke plant investments is it would pay off. My bill has not changed to reflect the better solar deals,nuke plant debt reductions or the work / other income the department has in their accounts. WHY? Does the money go somewhere they should have put it long ago. Have they underfunded liabilities we spoke of years ago?
Looking at pg.39 2014 town report facts put in are odd.
MMWEC peaking project reports Templeton kilowatt-hours use @=55,441 Cost 85,805.00=rate of 154.77cents ISO interchange market was 6.60 cents.
It’s no wonder why the Princeton light dept. purchases no power from MMWEC.
They can get a better deal from another source.
Would the answer YES be a surprise to you?
Demand lower Electric bills as the cost gets reduced so should our bills.