The department of public utilities shall commence a study with the assistance of an independent counsel who, within 120 days of the effective date of this Act, shall complete a cost analysis report evaluating all technically feasible supply and demand proposals capable of ensuring electricity reliability on Cape Cod.  Said analysis shall include proposals which will reduce or eliminate existing uplift charges imposed upon ratepayers in the so-called SEMA area as defined by the Independent System Operator - New England. Said report shall include, but not be limited to, a cost comparison of any technically feasible proposal including transmission improvements, demand-side management programs, repowering of existing power generation units in SEMA, or the development of new peaking generation facilities