BARNSTABLE – Cape Light Compact says lower electric rates are on the way for residents this winter season.
The Compact’s new residential pricing will be 12.024 cents per kilowatt-hour, which is over 1.3 cents per kilowatt hour lower than Eversource’s recently announced basic service supply pricing.
This newly announced rate also represents an 8% decrease from the Compact’s current rate, 22% lower than last winter, and the lowest rate since 2021.
“The Compact is dedicated to securing competitive rates for Cape and Vineyard electric customers. Typically, rates increase during the heating season, so we are happy to see a decrease for customers this year,” said Maggie Downey, the Compact’s Chief Administrative Officer, in a statement.
“Even with lower electric supply costs, it is important for customers to continue to seek ways to be more energy efficient. The Compact offers rebates and incentives for insulation, air sealing and heat pumps to help customers ensure their homes and businesses are energy efficient.”
The Compact added that while rates will be lower starting in January, residents should still look to improve energy efficiency in their homes and businesses wherever possible.
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