Statement regarding the retirement of Mystic Generating Station in 2024

Mystic Generating Station has a long and proud history of keeping the lights on in Greater Boston and beyond, dating back to the Second World War. We appreciate FERC’s consideration of our complaint that challenged the process ISO-NE is using to replace Mystic’s reliability benefits to Boston, and while we disagree with their order, we accept it. As a result of the order, we currently do not see a path to continue commercial electric generation at Mystic Generating Station Units 8 and 9 after the Cost of Service agreement expires on May 31, 2024; consequently, we will retire Mystic 8 and 9 at that time. This decision does not impact Mystic Unit 7 and Mystic Jet which will cease operations by May 31, 2021.

We have not made a decision to retire Exelon Generation’s nearby Everett Liquefied Natural Gas (“LNG”) Facility (Everett). We are continuing to evaluate Everett’s future and are hopeful that it will continue to operate following Mystic’s retirement. Everett is strategically located, with interconnections to two interstate pipelines and a natural gas distribution system, and a large LNG trucking operation. Marketers and utilities in the Northeast have relied on LNG from Everett for decades as an integral peaking fuel to supplement their pipeline supplies.