Word: matep
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This would not be the first time the University has become directly involved in the steam generation business. The University operated the Medical Area Total Energy Plant (MATEP) from 1985 to 1998, which supplied steam, along with electricity and chilled water, to the buildings on Harvard’s Longwood campus and to the surrounding hospital complexes...
...University’s ownership of MATEP was controversial at the time, particularly because the University severely overspent the project’s budget in paying $350 million to build the plant. The University only received $147 million when it sold the plant to the corporate predecessor of NSTAR...
...MATEP was completed by Harvard in 1985 at a cost of $350 million, almost $150 million over budget, because of cost overruns and delays created by community protests...
...addition to expanding the number of customers who rely on MATEP, Commonwealth Energy will seek to introduce technological improvements to the plant, according to a news release announcing the transfer...
...MATEP was planned during the oil crisis of the '70s as a means for holding down Harvard's fuel costs in the event of an energy crisis...