Energy Program Announces New Rates
FOR IMMEDIATE RELEASE CONTACT: Gina Dario, Town Administrator 413-442-1167 ext. 121
Mark Cappadona, Colonial Power 508-485-5858 ext. 3
LANESBOROUGH ENERGY PROGRAM ANNOUNCES NEW RATES
LANESBOROUGH, MA – The Town of Lanesborough has signed a twenty-four month contract with its current supplier, Dynegy Energy Services. The Lanesborough Community Choice Power Supply Program’s standard product will have a new rate of $0.14142 per kWh. The standard product meets Massachusetts Renewable Energy Requirement (MA Req) plus uses an additional 5% Massachusetts Class I Renewable Energy Certificates (RECs). The Program will also continue to offer an optional product that meets MA Req plus uses an additional 25% MA Class I RECs at a rate of $0.14913 per kWh.
For Lanesborough residents and businesses who are enrolled in the Town’s standard product, the current rate of $0.09703 per kWh will expire and the new rate of $0.14142 per kWh will take effect with the January 2024 meter reads. This represents an increase of $27 per month on the supply side of the bill given average usage of 600 kWh. However, this new rate is 11 percent lower than Eversource’s recently announced Residential Basic Service rate of $0.15845 per kWh. Residents can expect to see an average savings of $10 per month for the months of January 2024 through July 2024*.
“Lanesborough residents are highly aware of the climate change crisis and look for ways to be part of the solution,” said Gina Dario, Lanesborough Town Administrator. “We are pleased that this program grants us another way to takes steps toward helping to reduce our dependence on non-renewable energy sources and decrease our carbon emissions, while also stabilizing electricity bills during a difficult economic period.”
Lanesborough launched its electricity program in July 2013 in an effort to develop an energy program that would be stable, affordable and incorporate renewable energy. From inception through June 2023, the Program has saved residents and small businesses over $690,000 in electricity costs as compared to Basic Service.
It is important to note that no action will be required by individual consumers. This change will be seen on the February 2024 bills. All accounts currently enrolled in the Program will remain with their current product selection and see the new rate under the “Supplier Services” section of their monthly bill.
The Lanesborough Community Choice Power Supply Program has no fees or charges. However, anyone switching from a contract with a third-party supplier may be subject to penalties or early termination fees charged by that supplier. Ratepayers should verify terms before switching.
Basic Service rates change twice a year or more, depending on rate class. As a result, the aggregation rate may not always be lower than the Basic Service rate. The goal of the aggregation is to deliver savings over the life of the program against Eversource Basic Service. However, such savings and future savings cannot be guaranteed.
Eversource customers who meet certain means criteria can qualify to receive a discount on their electric bills. To learn more, please visit eversource.com/content/residential/account-billing/payment-assistance/discount-rate.
Residents may also visit colonialpowergroup.com/lanesborough or call (866) 485-5858 ext. 1 to learn more about Lanesborough’s Community Choice Power Supply Program, to opt-in or opt-out, or to change your current product selection.
*Normally, the term would be through June 2024 but this is a transition term. The Massachusetts Department of Public Utilities issued an Order on September 1, 2023 that requires Eversource change its residential and small business Basic Service periods to February through July and August through January. This is expected to mitigate large seasonal changes in Basic Service electricity supply prices and differences across electric distribution companies. [See mass.gov/news/dpu-orders-schedule-changes-to-basic-service-rates.]
ABOUT COLONIAL POWER GROUP: Based in Marlborough, Mass., Colonial Power Group is the leading aggregation-consulting firm in Massachusetts. Colonial Power has been working with local governments since 2002 in the design, implementation and management of municipal aggregation programs.