To the Editor:Many consumers on the Cape and Martha’s Vineyard have received an offer from Dominion Retail to “Lock-in a Low, Fixed, Electricity Price.” As a municipal aggregator, the Cape Light Compact is supportive of competition in the energy market so that consumers have options for their energy supply. However, we are disappointed that Dominion Retail’s letter to consumers does not reflect the evolving and current Cape Light Compact electricity prices, which are lower than both the Dominion offer and the past Compact rates quoted in the letter.
The recent Dominion offer, while providing the average electricity price for the Compact and NSTAR from January 2007 through June 2010, does not include what its own average price was over this same time period. Since all suppliers work in the same marketplace, it’s probable that Dominion’s price over this time frame was approximately the same as NSTAR and the Compact’s.
Too, Dominion does not provide consumers with the fact that they can currently purchase electricity at prices substantially below the 9.49 cents per kilowatt hour (kWh) offered in the Dominion letter.
In the January 2010 to June 2010 time period, Compact residential customers had a rate of 8.790 cents per kWh, which is lower than Dominion’s price.
In the upcoming July 2010 to January 2011 time period, the Compact’s residential price is 7.990 cents per kWh, a 9.1% reduction in the rate from the first six months of this year and 1.5 cents per kWh lower than Dominion’s stated price.
Robert P. Mahoney
Town of Dennis Representative and
Chairman, Cape Light CompactEast Dennis