For More Information Contact:
Austin Brandt, Senior Power Supply Planner – 508-375-6623
For Immediate Release: June 3, 2021
CAPE LIGHT COMPACT ANNOUNCES NEW 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 rates will start with customers’ June meter read dates. 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 10.743 cents per kilowatt-hour (kWh)—more than a one cent reduction from the current price. Compact power supply customers should see this price reflected on the electric utility bills that they receive in July.
“The Compact is excited to offer customers a decrease in pricing while maintaining a quality power supply offering. With competitive rates, no hidden fees, and continued investment in renewable energy, our customers can rest assured they are making the right choice being a part of our power supply program” 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 fall 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 2021 through December 2021 meter read dates will be 9.999 cents per kWh and the industrial rate for the period of June 2021 through September 2021 meter reads will be 8.794 cents per kWh.
“In addition to the savings these new rates offer, customers can also take advantage of the Compact’s energy efficiency programs. Residents can receive no-cost home energy assessments and 75-100% off insulation upgrades. For a limited time, businesses can receive up to 100% off efficiency upgrades through a no-cost business assessment. These options can help customers save even more on their electric bills. 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 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 .
New Power Supply Rates and Terms (all rates shown in cents per kWh):
|Term:||June ’21 – Dec. ’21 meter reads||June ‘21 – Dec. ’21 meter reads||June ‘21 – Sept. ’21 meter reads|
|Standard Green||10.743 ¢/kWh||9.999 ¢/kWh||8.794 ¢/kWh|
|CLC Local Green 50||12.043 ¢/kWh||11.299 ¢/kWh||10.094 ¢/kWh|
|CLC Local Green 100||13.443 ¢/kWh||12.699 ¢/kWh||11.494 ¢/kWh|
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.