Massachusetts RE Trust Fund Money Sought

February 13, 2003 [SolarAccess.com] In a draft budget released Tuesday night, the Massachusetts Senate Ways and Means committee proposed taking US$35 million from the Massachusetts Renewable Energy Trust (MRET) Fund to help balance the 2002 state budget, which Gov. Mitt Romney has declared to be more than US$600 million in deficit. This proposal will be voted on by the full Senate Thursday afternoon. The MRET was created as part of the Electric Industry Restructuring Act of 1997 to to support the development of Renewable Energy projects and companies in Massachusetts. Trust money was collected by electric utilities from utility ratepayers for the specific purpose of enhancing the electric system by supporting Renewable Energy.

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