YARMOUTH – Cape Light Compact has announced that it will be lowering electrical pricing by 23 percent this summer.
The Compact’s new, lower residential rate will start with July meter readings, and commercial customers will see the cost savings starting with June meter reads.
The Compact’s new residential pricing will be 9.98 cents per kilowatt-hour, a three cent reduction in price.
Compact customers should see this price reflected on the electric utility bills that they receive in August.
“Amidst so much uncertainty surrounding COVID-19, we are excited to secure lower rates for our residents and businesses for the coming months,” said Maggie Downey, Cape Light Compact administrator.
Since late 2016, 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.
Starting in 2021, the Compact will also purchase both renewable power and renewable energy certificates from a new solar farm under development in Farmington, Maine.
In addition to the standard renewable power supply product, Cape Light Compact offers two “CLC Local Green” options.
CLC Local Green allows customers to choose to have 50 or 100 percent 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.
The Compact’s new commercial rate for June through December meter read dates is 9.913 cents per kWh and the industrial rate for the period of June through September meter reads will be 8.114 cents per kWh.
“The Compact has increased incentives for energy efficient upgrades for homes and businesses,” said Downey.
“Cape Light Compact is offering virtual business and home energy assessments. For businesses, we are offering coverage for a variety of energy efficient equipment for a limited time.”
For more information on Cape Light Compact or the CLC Local Green program, click here or call 1 800 381 9192.
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