Cape Light Compact announces winter electric price increases

Cape Light Compact (CLC) announced new winter electric prices this week. Starting with December meter reads through July 2015, CLC’s prices will be 15.371 cents per kilowatt hour (kWh) for residential customers and 14.3 for commercial customers, according to a press release. In comparison, prices for November 2014 were 8.892 cents per kWh for both residential and commercial customers.

CLC is also offering a 12-month fixed-price option for residential customers interested in a more stable rate. The longer-term offers will be lower than the six-month prices during the winter period, but are likely to be more expensive starting in July, CLC senior power supply planner Stephan Wollenburg said.

The cost of natural gas for the region’s electric generating plants is driving the electric price increases, Mr. Wollenburg said. After completing a competitive bid process, CLC selected ConEdison Solutions for residential customers and NextEra Energy services for commercial and industrial customers.

In anticipation of the winter electricity price spikes, CLC launched an energy efficiency campaign last month to help customers prepare. The “Chill Your Bill” campaign offers tips for reducing electricity usage and is available on CLC’s website at capelightcompact.org. CLC also offers customers a free energy assessment. For more information, call 508-375-6889.

See related article about NStar’s price increase on Martha’s Vineyard.