Cape Light Compact and ConEdison offer lower electricity prices

Cape Light Compact (CLC) recently announced new electricity supply prices for residential, commercial, and industrial customers, effective with meter read dates July 2012 through January 2013. The new rates are the lowest electricity supply prices since 2005, according to a CLC press release.

The new basic electric price for residential customers is 6.688 cents per kilowatt-hour (kWh), a decrease of about 1.2 cents, or 15 percent, from the previous six-month rate of 7.899 cents per kWh.

“We are thrilled that we are able to offer our Cape and Martha’s Vineyard customers one of the best basic electricity prices currently available,” CLC chairman Bill Doherty said in a recent press release. “As a result of low natural gas prices, which set the price of electricity in New England, coupled with Cape Light Compact’s energy efficiency programs and our active efforts to always drive for the best supply price, we’re working hard to make your electric bills lower.”

CLC is a public regional energy services organization created in 1997 to work with the combined buying power of the region’s 200,000 electric consumers to negotiate for low-cost electricity and other public benefits related to energy.

CLC is authorized by the 21 towns on the Cape and Martha’s Vineyard and Barnstable and Dukes counties to choose the electric supplier for their residents and businesses. The Compact buys its electricity from supplier ConEdison Solutions, based in White Plains, N.Y.

NSTAR provides the delivery of power, maintains the wires and poles, reads meters, sends bills, and restores electricity during outages.