For More Information Contact:
Austin Brandt, Senior Power Supply Planner – 508-375-6623
For Immediate Release: June 3, 2020
CAPE LIGHT COMPACT ANNOUNCES 23% LOWER ELECTRIC PRICING
South Yarmouth, MA – Cape Light Compact power supply customers can expect to see lower supply rates on their electricity bills this summer. The Compact’s new, lower residential rate will start with customers’ July meter read dates, and commercial customers will see the cost savings even earlier with the new pricing starting on June meter reads. As a green aggregation, the Compact’s power supply rates will continue to provide competitive pricing to customers while supporting renewable energy resources.
The Compact’s new residential pricing will be 9.98 cents per kilowatt-hour (kWh)—a three-cent reduction in price. Compact power supply customers should see this price reflected on the electric utility bills that they receive in August.
“Amidst so much uncertainty surrounding COVID-19, we are excited to secure lower rates for our residents and businesses for the coming months. Unlike many third-party power supply offerings, the Compact’s power supply program is contract-free and does not come with any hidden fees or surprises, all while investing in renewable energy,” said Maggie Downey, Cape Light Compact Administrator.
Since December 2016, the Compact’s green aggregation power supply program has supported renewable resources by matching all customers’ electricity usage with renewable energy certificates (RECs), by purchasing RECs from New England-based projects above Massachusetts state requirements, and by helping to finance new renewable energy projects directly through the EarthEra™ Renewable Energy Trust. Starting in 2021, the Compact will also purchase both renewable power and renewable energy certificates (RECs) from a new solar farm under development in Farmington, Maine.
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 2.7 cents per kWh.
The Compact’s new commercial rate for June 2020 through December 2020 meter read dates will be 9.913 cents per kWh and the industrial rate for the period of June 2020 through September 2020 meter reads will be 8.114 cents per kWh.
“In addition to the savings these new rates will offer customers, the Compact has increased incentives for energy-efficient upgrades for homes and businesses. Cape Light Compact is offering no-cost virtual business and home energy assessments. Residents who sign up by July 30th for an assessment will be eligible to have 100% of recommended insulation costs covered. For businesses, we are offering up to 100% coverage for a variety of energy-efficient equipment for a limited time. We encourage customers to call our energy efficiency hotline at 1-800-797-6699 to get started,” said Downey.
Customers not currently receiving their power supply from Cape Light Compact or who wish to opt into 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.
New Power Supply Rates and Terms (all rates shown in cents per kWh):
|Term:||July ’20 – Dec. ’20 meter reads||June ’20 – December ‘20 meter reads||June ‘20 – September ‘20 meter reads|
|CLC Local Green 50||11.28||11.213||9.414|
|CLC Local Green 100||12.68||12.613||10.814|
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.