For More Information Contact:
Mariel Marchand, Power Supply Planner 508-375-6623
For Immediate Release: November 29, 2021
CAPE LIGHT COMPACT ANNOUNCES NEW POWER SUPPLY 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 with the December 2021 meter read dates and ends on June 2022 meter read dates for residential and commercial customers.
The Compact’s new residential pricing will be 14.699 cents per kilowatt-hour (kWh), a rate that is 1.036 cents per kilowatt-hour lower than the utility’s basic service supply pricing. Compact power supply customers should see this price reflected on the electric utility bills they receive in January.
“During the anticipated higher prices for the winter of 2022, the Compact is pleased to provide our customers with cost savings over the local utility, while ensuring a 100% renewable power supply program,” said Maggie Downey, Cape Light Compact Administrator.
Since 2017, 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. The Compact also began purchasing both renewable power and renewable energy certificates (RECs) from a new solar farm in Farmington, Maine, which came online in October 2021.
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.
The Compact’s new commercial rate for December 2021 through June 2022 meter read dates will be 14.499 cents per kWh and the industrial rate for the period of December 2021 through March 2022 meter reads will be 18.000 cents per kWh.
|Term:||Dec. ’21 – June ’22 meter reads||December ’21 – June ‘22 meter reads||Dec. ‘21 – March ‘22 meter reads|
|CLC Local Green 50||15.999||15.799||19.300|
|CLC Local Green 100||18.299||18.099||21.600|
The Compact’s December – June electric rates reflect the increase in New England-wide electricity market prices during the winter months. All retail and utility electricity suppliers face these regional winter price spikes. Higher per-kilowatt hour electricity rates reinforce the importance of participating in the Compact’s energy efficiency programs to reduce kilowatt-hour usage.
“Residents and businesses alike can participate in our energy efficiency services to reduce their energy usage, which will reduce their bills. Under the 2022-2024 Statewide Energy Efficiency Plan, which is currently under review by the state Department of Public Utilities, we have a number of exciting new offers for both residential and business customers. Our energy assessments are a great first step and can help customers identify where they could be saving energy and money. Following an assessment, customers receive energy efficiency recommendations and information on available rebates and incentives to help them complete those improvements. 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.
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.