For Immediate Release: December 18, 2015
CAPE LIGHT COMPACT SETS PRICING FOR COMMERCIAL AND INDUSTRIAL CUSTOMERS
Barnstable, MA – Cape Light Compact has announced its new pricing for Commercial and Industrial customers on the Cape and Vineyard.
“Commercial businesses are the backbone of our local economy,” said Cape Light Compact Administrator Margaret Downey. “We know they tend to use more electricity in the summer and we have targeted the schedule of our power purchases and pricing to offer them reduced summer rates. The trade-off is that winter rates are a little higher.”
The new pricing is far lower than the price spikes that hit last winter from reported pipeline restrictions and demand for natural gas at electric generating plants. Similar to the level of prices of Eversource and National Grid, the Compact’s prices last winter were: 14.3 cents for Commercial customers and 20.07 cents for Industrial customers.
The Compact’s new commercial rate for the winter and spring through July meter read dates is 10.927 cents per kilowatt hour.
The Compact’s current industrial rate of 10.007 cents per kilowatt hour will continue through the January 2016 meter read dates. The new industrial price will be 10.675 cents for the period beginning after the January 2016 meter read and ending with the April 2016 meter read.
The Compact’s new 2016 prices compare to Eversource’s 2016 pricing of 10.570 cents per kilowatt hour for Commercial customers from January 1 to June 30 and the Industrial prices for January 1 to March 31 will be 10.318 cents.
“Our new prices reflect winter fuel costs for generating plants that are fortunately not as high as last year. We expect to see them dropping back to summer season levels in April and July,” Downey said.
ABOUT CAPE LIGHT COMPACT
Cape Light Compact is an award-winning energy services organization operated by the 21 towns and two counties on Cape Cod and Martha’s Vineyard. The Compact’s mission is to serve its 200,000 customers through the delivery of proven energy efficiency programs, effective consumer advocacy, competitive electricity supply and green power options. For more information, visit www.capelightcompact.org.