BMLD Embarks on Substation Project

Belmont Town Meeting unanimously passed an article authorizing the Belmont Municipal Light Department (BMLD) to purchase land and bond the financing for the construction of a new substation and transmission line that will address Belmont’s electric needs for the next 40 years.

The utility is in the process of developing a list of potential transmission owners, including but not limited to NSTAR, to be canvassed for solicitation of proposals to build a new transmission line into Belmont’s new substation. BMLD has also signed a Purchase and Sales Agreement (P&S) for the new substation site and the sale deposit is pending final legal work such as clearing of the title in preparation for closing. A full site inspection related to the P&S is also currently underway. BMLD is also working with the MBTA regarding necessary easements to run the new line along railroad tracks.

Meanwhile BMLD is working closely with town officials and the town treasurer to prepare the first Bond Anticipatory Note (BAN) for project costs. Bonding for the substation project will be done in stages as necessary to fulfill obligations of the project.

Anticipated rate increases will be enacted for all BMLD customers to meet its obligations to the financing of the substation project beginning April 1, 2013. While final calculations have not been completed, all customers should plan on a rate increase of 14%.