CAPE LIGHT COMPACT ANNOUNCES NEW POWER SUPPLY PRICING
CAPE LIGHT COMPACT ANNOUNCES NEW POWER SUPPLY PRICING click link for press release
South Yarmouth, MA – Cape Light Compact has set the electricity supply rates for its green aggregation power supply program for the upcoming pricing term that begins with the December 2021 meter read dates and ends on June 2022 meter read dates for residential and commercial customers.
The Compact’s new residential pricing will be 14.699 cents per kilowatt-hour (kWh), a rate that is 1.036 cents per kilowatt-hour lower than the utility’s basic service supply pricing. Compact power supply customers should see this price reflected on the electric utility bills they receive in January.
“During the anticipated higher prices for the winter of 2022, the Compact is pleased to provide our customers with cost savings over the local utility, while ensuring a 100% renewable power supply program,” said Maggie Downey, Cape Light Compact Administrator.
Since 2017, the Compact’s green aggregation power supply program has supported renewable resources by matching 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. The Compact also began purchasing both renewable power and renewable energy certificates (RECs) from a new solar farm in Farmington, Maine, which came online in October 2021.
In addition to the standard renewable power supply product, the Compact offers two CLC Local Green℠ options. CLC Local Green℠ allows customers to choose to have 50 or 100% of their energy use matched with additional Massachusetts Class 1 RECs. These RECs allow for the customers’ energy usage to be matched with renewable energy sourced from New England. While the standard power supply program helps directly finance new renewable energy projects, CLC Local Green℠ goes above and beyond to provide additional support for local renewable energy development in New England. Pricing for CLC Local Green℠ 50 includes a premium of 1.3 cents per kWh above the standard power supply price, and CLC Local Green℠ 100 includes a premium of 3.6 cents per kWh.
The Compact’s new commercial rate for December 2021 through June 2022 meter read dates will be 14.499 cents per kWh and the industrial rate for the period of December 2021 through March 2022 meter reads will be 18.000 cents per kWh.