AG’S OFFICE SAVES MASSACHUSETTS RATEPAYERS $9 MILLION ON THEIR ELECTRIC BILLS THROUGH SETTLEMENT WITH MYSTIC POWER
Agreement Reduces the Amount That Mystic Power Can Recover to Cover the Cost of Operating
the Mystic Generating Station in Everett
BOSTON – Attorney General Andrea Joy Campbell announced today that her office has reached a settlement with Constellation Mystic Power (Mystic), the owner of the Mystic Generation Station in Everett, that will save Massachusetts ratepayers approximately $9 million on their electric bills, if approved by the Federal Energy Regulatory Commission (FERC).
“As many continue to feel the economic impact of this winter’s record high energy rates,
this settlement will save families millions on their electric bills,” AG Campbell said. “My office
will continue to push for lower electric costs and cleaner energy for residents all across Massachusetts.”
The settlement resolves a November 2021 protest filed at FERC by the New England
States Committee on Electricity (NESCOE), a non-profit that represents the collective perspective of the six New England states, and Eastern New England Customer-Owned Systems (ENECOS), a coalition of municipal electric utilities and quasi-municipal districts in certain New England states. The AG’s Office intervened in the proceeding at FERC and supported NESCOE and ENECOS’ claims.
The protest challenged the amount that Mystic sought to recover – $52 million – in capital expenditures for running the Mystic Generation Station.
Mystic Generating Station Units 8 and 9 and the Everett Marine Terminal are funded through a cost-of-service agreement between Mystic and ISO-New England (ISO-NE), the independent not-for-profit organization that manages operation of the region’s electrical grid. The funds that Mystic collects under its cost-of-service agreement are charged to electricity suppliers participating in the wholesale electricity market, who then incorporate the costs into the supply rates that they charge customers on their electric bills. Mystic is required to submit informational filings to support the costs that it charges,
which can be challenged by consumer advocates and other stakeholders.
The settlement agreement was negotiated between Mystic, the AG’s Office, the Connecticut Department of Energy and Environmental Protection, the Connecticut Public Utilities Regulatory Authority, the Connecticut Office of Consumer Counsel, ISO-NE and NESCOE. The settlement agreement will save New England electricity customers an estimated $20 million, and because Massachusetts consumes nearly half of the region’s energy, approximately $9 million of the
savings from the agreement will benefit Massachusetts ratepayers.
Customers who are struggling to pay their electric bills and looking for immediate help should reach out to their utility company and learn about the financial assistance options available to them including flexible payment programs, and many of these options are available regardless of income. For information on how to save on monthly energy bills this winter visit the AG’s resource website.
The AG’s Office is the ratepayer advocate for Massachusetts and is authorized to intervene in or institute administrative and judicial proceedings on behalf of consumers in connection with any matter involving the rates, charges, prices or tariffs of any investor-owned Massachusetts gas, electric, or water
company.
This matter was handled by Assistant Attorney General Chris Modlish and Analyst Jamie Donovan of AG Campbell’s Energy and Telecommunications Division.
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