MassHEFA OKs New Trust to Issue $725M of Power Bonds

O'Brien, Elizabeth
December 2004
Bond Buyer;12/14/2004, Vol. 350 Issue 32029, p4
Trade Publication
The article presents information on Massachusetts Health and Educational Facilities Authority's decision to create a special trust to issue up to $725 million of rate-reduction bonds. These bonds will be sold on behalf of Boston Edison Co. and Commonwealth Electric Co. The bonds are backed by a small fee added to consumers' monthly utility bills, which are typically phased out after utilities recover their so-called stranded costs at the end of a transition period. The idea is investor-owned utilities' cost structure would put their power prices above the market and to get them willingly participate.


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