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RECEIVED <br /> TOWN CLERK <br /> READING, AIA. <br /> CITIZENS'ADVISORY BOARD(CAB) <br /> JOINT MEETING WITH RMLD BOARD of COMMISSIONERS POWER&WFfLpQl@1T 9: 56 <br /> MEETING MINUTES <br /> Regular Session <br /> TIME: 7:00 P.M. <br /> DATE: Monday, October 24,2011 <br /> PLACE: Reading Municipal Light Department(RMLD)230 Ash Street, Reading, MA, <br /> GM Conference Room <br /> PRESENT: CAB: A.Carakatsane,Chairman(Lynnfield),G. Hooper(Wilmington),T. Capobianco <br /> (Reading) <br /> RMLD Power and Rate Committee: R. Hahn,G. Snyder, R. Soli <br /> RMLD Staff: V.Cameron, P. O'Leary,J. Parenteau,W.Seldon <br /> ABSENT: J. Norton(North Reading),T.011ila(Wilmington) <br /> 1. Call Meeting to Order—A.Carakatsane, Chairman <br /> Chairman Carakatsane called the CAB meeting to order at 7:04 P.M. <br /> Chairman Hahn called the RMLD Board of Commissioners' Power & Rate Committee meeting to order at <br /> 7:05 P.M. <br /> 2. The Retiring/Expiring of Renewable Energy Certlffcates(RECs) <br /> Mr.Carakatsane explained that at the last CAB Meeting on October 4, a question was raised about what was <br /> happening with the Renewable Energy Certificates (RECs). He added that there was knowledge that the <br /> RECs are being let to expire and in the meantime, the Board as a whole has not considered the issue. It <br /> was a concern of the CAB, so this meeting was requested to discuss both sides of the issue. <br /> Mr. Seldon wished to modify some comments made at the last meeting. He clarified that the RECs for the <br /> Green Choice Program were allowed to expire, because that is how the program was set up. The new RECs <br /> that the Department is getting with the Swift River Project are not expired, and are being banked in the <br /> RMI-D's account. <br /> Mr. Hahn stated that the Board has discussed the issue, but there is no unanimous consensus as to whether <br /> the RECs should be retired. The Board asked Energy Services to come in with options, and the Board <br /> allowed the RECs to be bought and expired under the Green Choice Program. <br /> Ms. Parenteau added that there has been discussion at this Committee level to develop a sustainability <br /> policy and address what to do with RECs in the policy. The Committee has also discussed whether or not to <br /> utilize the Swift River RECs to satisfy the Green Choice RECs. A definitive answer has not arisen, but there <br /> has been discussion. <br /> Mr. Hahn noted that RECs could be sold on a retroactive basis so no value has been lost by sitting on them. <br /> Ms. Parenteau said that the whole purpose of Green Choice is that the RMLD would go out, purchase RECs, <br /> and retire them. Since then the RMLD found a purchase power agreement with Swift River, which is a whole <br /> new set of RECs. With the new set of RECs a discussion on what should the policy be related to the RECs <br /> and how to move forward is now a pertinent discussion. <br /> Mr.Carakatsane asked how the RECs expire. <br /> Ms. Parenteau passed out an informational page(from massgov), which gives a summary and an overview <br /> of what is an RPS (Renewable Portfolio Standard), how the RECs work, how does a REC originate,and who <br /> keeps track of a REC. It also notes that generation providers who are classified as renewables have the <br />