12.21.10 Municipal Entities Expected to Save Over 20% on Electric Generation Rates

New Long-Term Municipal Electricity Price of 7.57 cents per kWh One of the Lowest in Contract History

Barnstable, MA, Dec 21, 2010 – Cape Light Compact, through a competitive pricing process, awarded a three-year contract to ConEdison Solutions for municipal customers of the Cape Light Compact.  The prices will be in effect from the July 2011 through the July 2014 meter read dates and will automatically adjust for current Cape Light Compact municipal customers.

The new lower price of 7.57 cents per kWh marks a 2.1 cent reduction from the current price of 9.67 cents per kWh, saving the towns – and taxpayers – $1.8 million per year, and $5.4 million over three years if prices had remained at current levels.  The current electricity load for Cape Light Compact’s municipal customers is 86 million kWh per year.

“Cape Light Compact negotiated an extremely competitive and low electricity price for an extended period of time for our municipal customers,” said Bob Mahoney, Chairman of the Cape Light Compact.  “The Compact’s comprehensive contract provides fixed pricing and insulates municipal customers from fluctuating market conditions.  We are very pleased that this premium agreement with our electricity supplier ConEdison Solutions will translate into significant savings for Cape Cod and Martha’s Vineyard taxpayers over the next three years.”

About Cape Light Compact

Cape Light Compact is an inter-governmental organization consisting of the 21 towns and two counties on Cape Cod and Martha’s Vineyard.  The Compact’s mission is to serve our 200,000 customers through the delivery of proven energy efficiency programs, effective consumer advocacy, competitive electricity supply and green power options.  For more information, visit www.capelightcompact.org or call 1-800-797-6699.

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Contact:

Amy Voll
Cape Light Compact                                                       
(508) 744-1267
(508) 221-8531 (c)                                          
avoll@capelightcompact.org

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