Cape and Vineyard Residents to See Electric Bill Savings

BARNSTABLE – The majority of Cape Cod and Martha’s Vineyard residents may have a little extra money to spend next year.

The Cape Light Compact says its rate per kilowatt hour for residential customers will be 9.6 cents this winter compared to the Eversource Energy rate of 10.8 cents.

“The typical Cape Cod customer uses about 580 kilowatt hours per month so this price as compared to the Eversource rate for the next 6 months is going to mean about $7 in savings on a monthly electric bill,” said Austin Brandt, the power supply planner for the Cape Light Compact.

The compact’s rate is about 5.7 cents lower compared to last winter. The difference should save the average customer about $34 a month compared to last year’s electric bills.

“Fortunately we’ve seen continuous decline of natural gas prices,” Brandt said. “So that’s a big reason that we are able to offer this lower rate especially in comparison to last year’s.”

For those customers who have electric heat and may use 1,000 kilowatt hours per month, the savings could result in almost $12 a month over Eversource customers and over $57 per month compared to last year.

According to compact officials the prices for commercial customers are still being negotiated and should be announced shortly.