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Report of the The Compact received energy and RECS from a solar PV project, Farmington Solar, in Maine. The Cape Light Compact Compact entered into a long-term fixed price contract for energy and Class 1 RECS from just under 5 MW of this project as part of the Compact's commitment to Mashpee Representative—Wayne Taylor renewable energy and price stability. Cape Light Compact JPE is an intergovernmental At a regional level, New England continues organization consisting of the 21 towns on Cape to face electricity pricing spikes during the winter Cod and Martha's Vineyard and Duke's County. The months. Over the last fifteen years, New England Compact's mission is to serve our 205,000 customers has greatly increased its reliance on natural gas for through the delivery of proven energy efficiency electricity production; however, natural gas pipeline programs,effective consumer advocacy,and renewable capacity has not substantially increased during that competitive electricity supply. same period.This creates a supply shortage of natural gas for electricity production during winter cold snaps, Effective July 1, 2017, the Cape Light Compact and therefore increases prices for electric generators, reorganized itself as a joint powers entity pursuant to which is passed on to all New England power supply Massachusetts General Law Chapter 40 Section 4A1/2, customers. Until such time as this issue is resolved, becoming the first joint powers entity in Massachusetts. either through additional natural gas or electric Reorganizing as a joint powers entity protects member transmission infrastructure,demand reduction,or other towns from potential liabilities and mandates greater targeted programs,the possibility of future high winter financial accountability through expanded reporting pricing remains, and as such, consumers should still requirements to the Massachusetts Department of expect seasonal pricing fluctuations for the foreseeable Revenue and member Towns, and designation of future. Treasury functions to an independent entity. POWER SUPPLY This winter especially, consumers should expect to see a significant increase in electricity prices.These During calendar year2022(CY22),the Compact's increases in prices reflect the increase in New England- power supplier for all residential, commercial, and wide wholesale electricity market prices which is industrial customers was NextEra Energy Services largely driven by increased natural gas prices due to the of Massachusetts (NextEra). The Compact is pleased war in Ukraine and a reduction of alternative sources that our residential price in CY22 remained price- of electricity generation (e.g., coal, nuclear). The competitive with the utility's basic service residential Compact will continue to seek ways to help customers price,while also being 100%renewable. reduce their electricity costs through innovative energy efficiency programs to mitigate the impacts of higher The Compact has been a green aggregation since January 2017, matching Compact power supply winter electricity pricing. customers'annual electricity usage above the mandated As of December 2022, the Compact had state requirements with voluntary renewable energy approximately 8,742 electric accounts in the Town of certificates (RECS) to provide a 100% renewable Mashpee on its power supply. product. By retiring RECS to match the Compact's CONSUMER ADVOCACY customers' usage, Compact customers are financially supporting renewable energy resources, including Since 1997, Cape Light Compact has advocated resources located on Cape Cod. In addition, NextEra for the ratepayers of Cape Cod and Martha's Vineyard deposits all premiums paid for voluntary RECs, plus at the local and state level. their supplier and retail fees (expected to total over$3 In CY22, the Compact focused on the following million per year),into a trust fund to be used solely for the development of new renewable energy resources. regulatory proceedings at the Massachusetts By purchasing electricity through the Compact, all Department of Public Utilities (DPU): Compact power supply customers are supporting Grid modernization (DPU docket 21-80): renewable energy and acting locally to combat climate The Compact participated in this docket with change. a focus on ensuring that customers on the Cape and Vineyard are able to benefit from Eversource's proposed grid modernization 106