PRESS RELEASE

For Immediate Release:  May 29, 2018

For More Information Contact:

Austin Brandt (508) 375-6623

austin.brandt@capelightcompact.org

South Yarmouth, MA – Cape Light Compact is pleased to announce a substantial decrease in electricity prices for its green aggregation power supply program for the next six-month term, beginning on customers’ June 2018 meter read dates and ending on December 2018 meter read dates. With this new pricing for the upcoming term, the Compact’s power supply program will continue to provide cost savings to customers against the utility’s basic service pricing and support renewable energy resources.

“We are pleased to be able to offer our customers’ savings against the utility’s basic service rate while supporting renewable energy above and beyond state requirements,” said Maggie Downey, Cape Light Compact Administrator, “and we are proud to provide a safe and stable power supply option that doesn’t require customers to sign a contract and doesn’t come with any surprise fees or charges.”

The Compact’s new residential pricing, which starts on customers’ June meter read dates, will be 10.6 cents per kilowatt-hour (kWh), and they should see this price reflected on the bills that they receive in July. The average residential customer using 584 kWh per month will see a savings of about $4.65 per month compared to the utility’s upcoming basic service price, and a decrease of about $12.85 per month against the Compact’s current price. In aggregate, Compact residential power supply customers are expected to save nearly $2.6 million dollars versus the utility’s basic service pricing over the upcoming pricing term.

The Compact’s green aggregation power supply program supports 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. Since the Compact’s implementation of its green aggregation program in December 2016, the Compact has been able to maintain lower pricing than the local utility, while exceeding the mandated Massachusetts renewable energy component.

“Our price decrease comes just in time to help customers, that use air conditioning and dehumidifiers to keep their homes and businesses comfortable, save money on their bills,” said Downey. “While this price drop will help decrease energy costs, we always like to remind our customers that the cheapest kilowatt hour is a kilowatt hour that isn’t used, so we encourage our customers to participate in our energy efficiency programs. Having a free energy assessment and installing recommended insulation will not only reduce your energy bills but will make you more comfortable as well. We also have many offers available for businesses to take advantage of. We encourage customers to call our energy efficiency hotline at 1-800-797-6699 to save money on energy bills this summer, and even to start preparing for winter.”

The Compact’s new commercial rate for June 2018 through December 2018 meter read dates will be 11.075 cents per kWh and the industrial rate for the period of June 2018 through September 2018 meter reads will be 10.274 cents per kWh.

New Pricing:

Residential Commercial Industrial
Eversource Basic Service – Proposed 11.397 cents/kWh 11.403 cents/kWh 10.398 cents/kWh
7/1/18 – 12/31/18 7/1/18 – 12/31/18 7/1/18 – 9/30/18
Cape Light Compact 10.6 cents/kWh 11.075 cents/kWh 10.274 cents/kWh
June’18 – December ’18 meter reads June ’18 – December ‘18 meter reads June ’18 – September ’18 meter reads

To sign up or for more information, visit our Power Supply page.

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 200,000 customers through the delivery of proven energy efficiency programs, effective consumer advocacy and renewable competitive electricity supply. For more information, visit www.capelightcompact.org.

 

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