Cape Light Compact has set the electricity supply rates for its green aggregation power supply program for the upcoming pricing term that begins on December 2019 meter-read dates, and ends on July 2020 meter-read dates for residential customers.
According to a press release from Cape Light Compact, the new residential pricing will be 12.941 cents per kilowatt-hour (kWh).
The compact’s new commercial rate for December 2019 through June 2020 meter-read dates will be 12.629 cents per kWh, and the industrial rate for the period of December 2019 through March 2020 meter reads will be 12.797 cents per kWh.
Current power pricing is 10.699 cents per kWh for residential, 10.399 cents for commercial, and 10.224 cents for industrial.
“Electricity prices in New England during the winter can be volatile, so we are happy to be able to provide our customers with a stable, competitive price to help manage bills,” said Maggie Downey, Cape Light Compact administrator. “Unlike many third-party suppliers, our supply is contract-free, and doesn’t come with any hidden fees or surprise.”
Since December 2016, the compact’s green aggregation power supply program has matched all customers’ electricity usage with renewable energy certificates (RECs), by purchasing RECs from New England–based projects above Massachusetts state requirements, and by helping to finance new renewable energy projects directly through the EarthEra Renewable Energy Trust.
According to the release, the increase in pricing is due to higher New England–wide market electricity prices during the winter months, which all retail and utility suppliers purchasing power from the market are subject to.