PRESS RELEASE<\/p>\n
For Immediate Release: December 18, 2015<\/p>\n
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CAPE LIGHT COMPACT SETS PRICING FOR COMMERCIAL AND INDUSTRIAL CUSTOMERS<\/strong>\u00a0<\/strong><\/p>\n Barnstable, MA –<\/strong> Cape Light Compact has announced its new pricing for Commercial and Industrial customers on the Cape and Vineyard.<\/p>\n \u201cCommercial businesses are the backbone of our local economy,\u201d said Cape Light Compact Administrator Margaret Downey. \u201cWe 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.\u201d<\/p>\n 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\u2019s prices last winter were: 14.3 cents for Commercial customers and 20.07 cents for Industrial customers.<\/p>\n The Compact\u2019s new commercial rate for the winter and spring through July meter read dates is 10.927 cents per kilowatt hour.<\/p>\n The Compact\u2019s 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.<\/p>\n The Compact\u2019s new 2016 prices compare to Eversource\u2019s 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.<\/p>\n \u201cOur 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,\u201d Downey said.<\/p>\n