For More Information Contact:
Austin Brandt, Senior Power Supply Planner – 508-375-6623
For Immediate Release: November 27, 2019
CAPE LIGHT COMPACT ANNOUNCES NEW ELECTRIC PRICING
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 on December 2019 meter read dates and ends on July 2020 meter read dates for residential customers. The new power supply rates will continue providing competitive pricing to customers while supporting renewable energy resources.
The Compact’s new residential pricing, which starts on customers’ December meter read dates, will be 12.941 cents per kilowatt-hour (kWh). Compact power supply customers should see this price reflected on the electric utility bills that they receive in January.
“Electricity prices in New England during the winter can be volatile, so we are happy to be able to provide our customers with a stable, competitive price to help manage bills. Unlike many third-party suppliers, our supply is contract-free and doesn’t come with any hidden fees or surprises,” 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 2020, the Compact will also purchase both renewable power and renewable energy certificates (RECs) from a solar farm currently wrapping up construction 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 December 2019 through June 2020 meter read dates will be 12.629 cents per kWh and the industrial rate for the period of December 2019 through March 2020 meter reads will be 12.797 cents per kWh.
The increase in pricing as compared to the Compact’s current rates is due to higher New England-wide market electricity prices during the winter months, which all retail and utility suppliers purchasing power from the market are subject to. When facing higher electric bills due to these regional winter price spikes, the Compact encourages customers to look for ways to save energy to reduce their bills by using less kilowatt-hours.
“We always like to remind our customers that the quickest way to reduce your energy bill is by using less, and the best way to do that is to make sure your house or business is as efficient as possible. Cape Light Compact offers business and home energy assessments which can help get you on track to save money and keep warm this winter. 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 1-800-381-9192 .
New Power Supply Rates (all rates shown in cents per kWh):
|Term:||December ’19 – July ’20 meter reads||December ’19 – June ‘20 meter reads||December ’19 – March ‘20 meter reads|
|CLC Local Green 50||14.241||13.929||14.097|
|CLC Local Green 100||15.641||15.329||15.497|
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.