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Administration proposes securitization, Mass Save reforms and on‑bill financing to lower bills
Summary
The bill would change Mass Save administration, enable securitization of program costs, expand financing options including on‑bill recovery and utility‑led geothermal loops; witnesses urged careful cost comparisons and protections for ratepayers.
BOSTON — Administration witnesses told the Joint Committee the Energy Affordability Act would reform the Mass Save program, let utilities or the DPU use securitization to spread up‑front program costs, and create on‑bill or tariff‑based financing options so customers can get heat pumps and weatherization without large up‑front payments.
The secretary said securitization — issuing low‑cost bonds to pay for program cycles and recovering the debt over a longer term — could “conservatively save ratepayers more than $5,000,000,000 over 10 years” and that the DPU would have to…
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