The Cape & Vineyard Electric Cooperative, Inc. (“CVEC”) was organized on September 12, 2007. CVEC was formed under Massachusetts General Laws, c. 164, §136 which provides for the establishment of energy cooperatives. Section 136 cooperatives can : (1) purchase and own generation, transmission and other projects and property; (2) enter into contracts and incur liabilities; (3) borrow money, issue notes and bonds; (4) enter into private/public collaboration (contractual); (5) purchase, sell and distribute energy; and (6) sell electricity to any consumer within CVEC member communities.
CVEC has the authority to develop, manage, and/or own renewable electric generation and storage facilities and to procure and/or sell long-term electric supply or other energy-related goods or services. CVEC’s activities, policies and goals include acquiring the best market rate for electricity supply for its municipal members and participants, promoting and supporting the development of renewable energy resources, improving the quality of service and reliability, and utilizing and encouraging conservation and other forms of energy efficiency.
Currently, there are twenty-five members of CVEC : Aquinnah, Barnstable, Barnstable County, Bourne, Brewster, Chatham, Chilmark, Dennis, Dukes County, Eastham, Edgartown, Falmouth, Harwich, Oak Bluffs, Orleans, Marion, Mashpee, Nantucket, Provincetown, Sandwich, Tisbury, Truro, West Tisbury, Yarmouth, and the Cape Light Compact.
CVEC’s formation stemmed from the members’ desire to develop renewable energy projects and use renewable energy projects to stabilize electric rates for ratepayers within CVEC member communities.