Cape Light Compact Highlights Energy Efficiency Offerings as New Power Supply Prices Are Set
For More Information Contact:
Mariel Marchand, Power Supply Planner 508-375-6623
For Immediate Release: November 28, 2022
CAPE LIGHT COMPACT HIGHLIGHTS ENERGY EFFICIENCY OFFERINGS AS NEW POWER SUPPLY PRICES ARE SET
South Yarmouth, MA – Cape Light Compact has set the electricity supply rates for its green aggregation power supply program for the upcoming pricing term that begins with the December 2022 meter read dates and ends on June 2023 meter read dates for residential and commercial customers.
The Compact’s new residential pricing will be 21.699 cents per kilowatt-hour (kWh), a rate that is nearly 4 cents per kilowatt hour lower than the utility’s recently announced basic service supply pricing. Compact power supply customers should see this price reflected on the electric utility bills that they receive in January.
While energy prices typically increase during the winter months in New England, this year has seen particularly steep increases due to energy market conditions. Increased demand and global impacts from the conflict in Ukraine have contributed to increased prices for natural gas. In New England, natural gas is used to generate approximately 45% of electricity, causing electric rates to increase.
Higher per-kilowatt hour electricity rates reinforce the importance of participating in the Compact’s energy efficiency programs to reduce kilowatt hour usage. Residential and commercial customers, including renters, can begin with a no-cost Energy Assessment to identify energy-saving opportunities and qualify for incentives on efficiency upgrades. The Compact offers significant rebates on insulation, air sealing, and other upgrades to make buildings more efficient and comfortable going into the winter months. Additionally, income-qualified customers may receive incentives of up to 100% on weatherization and other upgrades.
Customers who need assistance paying their energy bills can explore billing and payment options including gas and electric discount rates, fuel assistance, and arrearage forgiveness programs. Contact information for billing and payment assistance programs can be found below.*
The Compact’s energy supply contract includes low negotiated supplier fees that do not vary with power prices, meaning that the price increase is due solely to the increased cost of purchasing power in the wholesale market and does not include any additional mark-up or supplier fees. Additionally, the Compact is a green aggregation, meaning the Compact matches customers’ annual electricity usage above the mandated state requirements with Renewable Energy Certificates (RECs), in addition to investing in new renewable energy resources. Supporting renewable energy can help strengthen the resiliency of our energy system as the market for fossil fuels becomes more volatile.
“Cape and Vineyard residents and businesses will be facing increased energy bills this coming winter; however, there are tools available to all customers ranging from energy efficiency to budget billing to help mitigate impacts from increased energy bills,” said Compact Administrator Maggie Downey. “Cape Light Compact staff are available to help customers identify the best path for our customers.”
Cape Light Compact Power Supply Pricing
In addition to the standard renewable power supply product, the Compact offers two CLC Local Green℠ options. CLC Local Green℠ allows customers to choose to have 50 or 100% of their energy use matched with additional Massachusetts Class 1 RECs. These RECs allow for the customers’ energy usage to be matched with renewable energy sourced from New England. While the standard power supply program helps directly finance new renewable energy projects, CLC Local Green℠ goes above and beyond to provide additional support for local renewable energy development in New England. Pricing for CLC Local Green℠ 50 includes a premium of 1.3 cents per kWh above the standard power supply price, and CLC Local Green℠ 100 includes a premium of 3.6 cents per kWh.
|Dec '22 - June '23
|Dec '22 - June '23
|Dec '22 - March '23
|Local Green 50%
|Local Green 100%
The Compact’s new commercial rate for December 2022 through June 2023 meter read dates will be 21.799 cents per kWh and the industrial rate for the period of December 2022 through March 2023 meter reads will be 34.999 cents per kWh.
Customers not currently receiving their power supply from Cape Light Compact or who wish to opt in to the CLC Local Green℠ program can do so online at www.capelightcompact.org/power-supply or by calling the Compact’s power supply provider, NextEra Energy Services, at 1-800-381-9192 .
*Billing and payment assistance:
For help managing past due electric bills:
Call Eversource at (866) 315-2496 and ask about their new Arrearage Forgiveness Program
ABOUT CAPE LIGHT COMPACT JPE
Cape Light Compact JPE, is an award-winning energy services organization operated by the 21 towns on Cape Cod and Martha’s Vineyard and Dukes County. The Compact’s mission is to serve its 205,000 customers through the delivery of proven energy efficiency programs, effective consumer advocacy and renewable competitive electricity supply. For more information, visit www.capelightcompact.org.