Council authorizes sale of solar Renewable Energy Credits to CPCNH, citing price certainty

The Bedford Town Council voted 6–0 to let the Town Manager execute a contract selling Renewable Energy Credits (RECs) from the new Chubbuck Road landfill solar facility to the Community Power Coalition of New Hampshire (CPCNH).

Assistant Town Manager Jeanne Walker explained that a REC represents the environmental attributes of 1,000 kilowatt-hours of renewable electricity and reviewed four broker options. She presented CPCNH’s fixed offer (advertised at $33.00 per REC with a proposed $2.00/REC increase for the Town), which the Council favored because it removes market-price volatility. Walker told the Council three market brokers had fees tied to sale prices while CPCNH offered a fixed-rate buyer that would “retire” purchased RECs for compliance with state renewable portfolio standards.

Councilors discussed where initial revenue would be deposited; Town Manager Rick Sawyer said proceeds would go to the general fund initially while staff consult with the Finance Director about creating a dedicated or revolving fund. Councilor John Bator, referencing market risk, said a one-year fixed contract reduced downside exposure while preserving the option to revisit market-based sales later. The motion to authorize sale to CPCNH passed by roll-call vote: Strand—aye, Fahey—aye, Bator—aye, Soule—aye, Levesque—aye, Greazzo—aye (6–0).

Why it matters: The decision sets a buyer and price framework for the Town’s renewable attributes and generates near-term operating revenue. Councilors framed the choice as a conservative financial approach that locks in a known price for taxpayers rather than exposing the revenue to REC market swings.