New England States Committee on Electricity Inc

What it reported doing in 2025

Throughout 2025, nescoe represented the collective views of the new england states, and regularly played an important role in substantive new england regional stakeholder forums, and before the federal energy regulatory commission, concerning resource adequacy and system planning-related issues with significant implications for new england consumers. This included nescoe's regular participation in new england power pool's participants, reliability, transmission, and markets committee meetings. Nescoe also offered proposals in connection with planning and market rule changes to advance consumer interests and states' shared energy objectives. Additionally, nescoe participated in iso new england's planning advisory committee and power supply planning committee. Nescoe also monitored various working groups. Throughout 2025, nescoe spent considerable time working to improve the transparency around and oversight of asset condition spending, including but not limited to work on the development of a new asset condition reviewer function withint iso-new england. Concurrently, nescoe actively engaged in the evaluation of proposed asset condition projects presented to the planning advisory committee. Nescoe continued its appeal of ferc order 1920 regarding regional transmission planning and cost allocation, focused on the transparency of asset condition project spending. Nescoe negotiated cost management, containment, and transparency commitments from two transmission owners of the u.s. Department of energy- supported power up new england infrastructure project. In relation to longer-term regional transmission planning, nescoe worked on advancing the region's first longer-term transmission planning solicitation, issued by iso-new england in march 2025 to strenthen north- south new england interconnection. In 2025, to promote additional transparency in electricity rates and to protect consumers, nescoe conducted an investigation into the transmission owners' regional network service rate annual update filing. Following its investigation, nescoe made informal challenges under the region's formula protocols, many of which resulted in savings to consumers. In connection with wholesale market reforms, throughout 2025, nescoe actively participated in the development of capacity auction reform provisions (car-pd), which reached near unanimous regional stakeholder support and were filed with ferc in late 2025; monitored the 2025 implementation of day-ahead ancillary services market design; engaged on the development of seasonal capacity market and resource accreditation reforms (car-sa); and filed comments at ferc supporting resource performance protections following a record heatwave scarcity event. In connection with emerging large load issues, in 2025, nescoe filed comments with ferc in a newly opened rulemaking concerning the interconnection of large electric loads (including data centers), asserting that the accelerated timeline would preclude meaningful state and stakeholder participation and would encroach on states' exclusive jurisdiction over retail electric service under the federal power act. Nescoe also commenced regional state discussions about large load challenges and opportunities and consumer implications.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 98.6%; rating input score 99
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 5 of 9 controls in place; rating input score 62
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Limited
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -16%; rating input score 9; 9th percentile among comparable filings
• Total-asset coverage ratio: 1.05; rating input score 44; 44th percentile among comparable filings
• Liabilities to assets ratio: 0.09; rating input score 37; 37th percentile among comparable filings
• Officer compensation ratio: 53.8%; rating input score 1; 1st percentile among comparable filings

Growth

• Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
• Revenue growth: 3.9% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 4.9% per year; rating input score 100; 35th percentile among comparable filings