For More Information Contact:

Mariel Marchand, Power Supply Planner 508-375-6623

mariel.marchand@capelightcompact.org

PRESS RELEASE

For Immediate Release: June 7, 2024

CAPE LIGHT COMPACT ANNOUNCES NEW LOWER ELECTRIC RATES FOR THE SUMMER SEASON

South Yarmouth, MA – Cape Light Compact has set the electricity supply rates for its renewable aggregation power supply program for the upcoming pricing term that begins with the July 2024 meter read dates and ends on January 2025 meter read dates for residential and commercial customers. This summer’s rate represents a 16% decrease from the Compact’s current winter rate, and it is 12% lower than the Compact’s supply rate last summer.

The Compact’s new residential pricing will be 13.098 cents per kilowatt-hour (kWh), which is over 2.5 cents per kilowatt hour lower than Eversource’s recently announced basic service supply pricing. Compact power supply customers should see this price reflected on the electric utility bills that they receive in August.

While electricity rates will be lower this summer, the Compact emphasizes that customers should continue to improve the energy efficiency of their homes and businesses. A properly weatherized home or business and an energy-efficient cooling system can help keep you comfortable throughout the hot summer months, while reducing your energy usage.

“The Compact is dedicated to securing competitive rates for Cape and Vineyard electric customers, and we’re glad that they will be seeing a decrease in energy costs this season,” said Maggie Downey, the Compact’s Chief Administrative Officer. She continues, “Even with lower energy costs, it is important for customers to continue to seek ways to be more energy efficient. The Compact offers rebates and incentives for weatherization and heat pumps, as well as small appliances such as window AC’s, air purifiers, and smart thermostats.”

Residential and commercial customers, including renters, can begin with a no-cost Energy Assessment to identify energy-saving opportunities and qualify for incentives on efficiency upgrades. The Compact, the Cape and Vineyard’s Sponsor of Mass Save®, offers significant rebates on insulation, air sealing, heat pumps, and other upgrades to make buildings more efficient and comfortable for all seasons. Additionally, income-qualified customers may receive incentives of up to 100% of the cost of weatherization and other upgrades.

Although energy rates have gone down, there are many resources for customers who need assistance paying their energy bills. Customers can explore billing and payment options including gas and electric discount rates, fuel assistance, and arrearage forgiveness programs. Contact information for billing and payment assistance programs can be found below.*

To learn more about Cape Light Compact’s Energy Efficiency programs, customers can visit Capelightcompact.org/Energy_efficiency or call 1-800-797-6699.

Cape Light Compact Power Supply Pricing

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 Massachusetts Class 1 renewable energy certificates (RECs) generated by renewable energy facilities located in 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 July 2024 through January 2025 meter read dates will be 12.993 cents per kWh and the industrial rate for the period of July 2024 through October 2024 meter reads will be 11.127 cents per kWh.

Customers not currently receiving their power supply from Cape Light Compact or who wish to opt in to the CLC Local Green℠ program can do so online at www.capelightcompact.org/power-supply or by calling the Compact’s power supply provider, NextEra Energy Services, at 1-800-381-9192.

*Billing and payment assistance:

For help managing past due electric bills:
Call Eversource at (866) 315-2496 and ask about their new Arrearage Forgiveness Program

To inquire about natural gas discount rates:
Call National Grid at (800) 532-9600

To inquire about electric discount rates:
Call Eversource at (800) 592-2000

To apply for fuel assistance:
Contact South Shore Community Action Council
During the winter months, you can call (877) 383-5243
During the rest of the year, please call (508) 778-0870

ABOUT CAPE LIGHT COMPACT JPE

Cape Light Compact JPE, is an award-winning energy services organization operated by the 21 towns on Cape Cod and Martha’s Vineyard and Dukes County. The Compact’s mission is to serve its 210,000 customers through the delivery of proven energy efficiency programs, effective consumer advocacy and renewable competitive electricity supply. For more information, visit www.capelightcompact.org.

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