PRESS RELEASE<\/p>\n
For Immediate Release: November 20, 2014<\/p>\n
CAPE LIGHT COMPACT ANNOUNCES<\/strong> WINTER ELECTRIC PRICE AND URGES CONSUMERS TO <\/strong>\u201cCHILL THEIR BILLS\u201d WITH ENERGY EFFICIENCY<\/strong><\/p>\n Barnstable, MA –<\/strong> As everyone is aware, electricity prices are headed up this winter. Recent announcements and filings from Massachusetts utilities, including NSTAR, have demonstrated the magnitude of these increases. The Cape Light Compact, in the midst of this challenging market, completed an RFP for its power supply program. At the conclusion of this process, the Compact selected two suppliers – ConEdison Solutions<\/em> for residential customers and NextEra Energy Services for commercial and industrial (C&I) customers. Starting with December meter reads, the Compact\u2019s price will be 15.371 cents per kilowatt hour for residential customers and 14.3 for commercial customers.<\/p>\n Stephan Wollenburg, the Compact\u2019s Senior Power Supply Planner, noted that last fall the Compact negotiated rates that kept its residential price below others in the region for 2014. \u201cWe had a very successful, competitive year,\u201d he said, \u201cbut we’re working in a very volatile environment.\u00bb<\/p>\n The cost of natural gas for the region\u2019s electric generating plants is what is driving the electric price increases, Wollenburg explained. While natural gas remains at relatively low prices in other parts of the country, dramatically increasing natural gas consumption in New England has not been met with similar increases in the pipeline capacity used to get the gas into the region. This dynamic has driven winter electricity prices to levels not seen before. \u00abIt’s crucial for everyone to understand that these winter prices are almost sure to persist for at least a few years,\u00bb Wollenburg said. \u00abUnfortunately, the high prices we’re seeing now are not an anomaly.\u00bb<\/p>\n \u201cThere are things that we can do locally,\u201d Wollenburg said. To help prepare for the winter electricity price spikes the Cape and all of New England are likely to see for the next few years, the Cape Light Compact has launched a \u201cChill Your Bill\u201d campaign (www.capelightcompact.org\/chillyourbill<\/a>). The campaign is aimed at immediate actions consumers can take for energy efficiency and longer term improvements for homes and businesses. \u00abHigh electricity prices will affect everyone – there’s no supplier that will be immune,\u00bb Wollenburg said. \u00abThat makes energy efficiency the most important tool that people have to combat high electricity prices.\u00bb<\/p>\n The volatile prices have been accompanied by a marked increase in the number of competitive suppliers marketing to residential customers. \u00abWe’ve seen a number of suppliers offering teaser rates – prices that start low, but can skyrocket at the end of the initial period,\u00bb Wollenburg noted. \u00abWe always encourage customers to be very careful when signing up for a new competitive supplier, and should never do it on the phone. Customers can always reach out to us with questions.\u00bb The Compact is also offering a 12-month fixed-price option for residential customers interested in a more stable rate. \u00abAll else being equal, longer-term options tend to be a little more expensive than shorter-term rates. These longer-term offers will be lower than 6 month prices during the winter period, but are likely to be more expensive starting in July. Still – it’s an option we want to make available to our customers.\u00bb<\/p>\n New Pricing<\/p>\n For More Information Contact:<\/p>\n Lindsay Henderson \u2013 (508) 375-6889<\/p>\n\n\n
\n <\/td>\n Residential<\/td>\n Commercial<\/td>\n Industrial<\/td>\n<\/tr>\n \n NSTAR<\/td>\n 9.379 cents\/kWh<\/td>\n 9.078 cents\/kWh<\/td>\n 10.278 cents\/kWh<\/td>\n<\/tr>\n \n Cape Light Compact<\/td>\n 8.892 cents\/kWh<\/td>\n 8.892 cents\/kWh<\/td>\n 7.752 cents\/kWh<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \n\n
\n <\/td>\n Residential<\/td>\n Commercial<\/td>\n Industrial<\/td>\n<\/tr>\n \n NSTAR<\/td>\n 14.972 cents\/kWh<\/td>\n 14.427 cents\/kWh<\/td>\n 20.170 cents\/kWh<\/td>\n<\/tr>\n \n 1\/1\/15-6\/30\/15<\/td>\n 1\/1\/15-6\/30\/15<\/td>\n 1\/1\/15-3\/31\/15<\/td>\n<\/tr>\n \n Cape Light Compact<\/td>\n 15.371 cents\/kWh<\/td>\n 14.300 cents\/kWh<\/td>\n 20.070 cents\/kWh<\/td>\n<\/tr>\n \n December \u201914 -July\u201915 meter reads<\/td>\n December \u201914 -July\u201915 meter reads<\/td>\n December \u201914 \u2013 April \u201915 meter reads<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n