FOR IMMEDIATE RELEASE CONTACT: Marjorie McGinnis,
May 31, 2022 Town Administrator
(413) 548-9699
Mark Cappadona
(508) 485-5858 x3
FUEL SECURITY REGULATION REQUIRES NOMINAL PRICE CHANGE
IN LEVERETT’S COMMUNITY CHOICE ELECTRICITY PROGRAM
LEVERETT, MA – A new fuel security contract imposed by system regulators has resulted in the need for nominal price adjustments in Leverett’s Community Choice electricity program. Importantly, the rate residents pay will continue to remain below Eversource’s current Basic Service rate.
At the request of ISO New England (ISO-NE), the Federal Energy Regulatory Commission (FERC) has approved a unique fuel security contract with the costs associated with such contract imposed on all market suppliers. The fuel security contracts will support the continued operations of two generating units located just north of Boston and deemed critical by ISO-NE to maintain both fuel security and system reliability over the next two years (from June 2022 through May 2024). This cost allocation has resulted in a minor increase of $0.002 per kilowatt hour in the overall cost of electricity.
Leverett consumers use an average 600-kilowatt hours of electricity per month. With the adjusted cost included, this means ratepayers’ average bill will increase by approximately $1.20 a month compared to current program rates. This price adjustment will be effective with the July 2022 meter reads and remain fixed through December 2022, when the current contract ends.
The Leverett Community Choice Power Supply Program continues to provide local ratepayers with two different options for their electricity:
The programs’ initial cost per kilowatt hour and adjusted cost per kilowatt hour are detailed in the chart below.
Leverett Community Choice Program Product Rates Per Kilowatt Hour
|
Opt-Out Product |
Current Opt-Out Rate Per KwH |
Price Increase Per KwH |
New Opt-Out Rate Per KwH |
% Increase Opt-Out |
|
100% National Wind RECs |
$0.10052 |
$0.002 |
$0.10252 |
1.99% |
|
Opt-In Product |
Current Opt-In Rate Per KwH |
Price Increase Per KwH |
New Opt-In Rate Per KwH |
% Increase Opt-In |
|
100% MA Class I RECs |
$0.12289 |
$0.002 |
$0.12489 |
1.63% |
It is important to note that all electricity suppliers operating in Massachusetts, including Eversource, are subject to the new fuel security and system reliability regulation and the related pricing adjustment.
Increased Local Control, Renewable Energy
Leverett launched its electricity program in March 2019 in an effort to develop an energy program that would be affordable and incorporate renewable energy. The creation of Leverett’s energy program has allowed for greater control over the environmental characteristics and the price of the electricity residents use. Both of Leverett’s program options help to decrease ratepayers’ carbon footprint.
For added consumer protection, there are no enrollment, early termination, or cancellation fees attached to the Leverett electricity program. To date, approximately 150 Massachusetts communities have created their own community choice electricity programs to benefit residents.
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.
For additional information about the Leverett Community Choice Power Supply Program, visit colonialpowergroup.com/leverett or call (866) 485-5858 ext. 1.
###
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.
FOR IMMEDIATE RELEASE CONTACT: Marjorie McGinnis,
May 31, 2022 Town Administrator
(413) 548-9699
Mark Cappadona
(508) 485-5858 x3
FUEL SECURITY REGULATION REQUIRES NOMINAL PRICE CHANGE
IN LEVERETT’S COMMUNITY CHOICE ELECTRICITY PROGRAM
LEVERETT, MA – A new fuel security contract imposed by system regulators has resulted in the need for nominal price adjustments in Leverett’s Community Choice electricity program. Importantly, the rate residents pay will continue to remain below Eversource’s current Basic Service rate.
At the request of ISO New England (ISO-NE), the Federal Energy Regulatory Commission (FERC) has approved a unique fuel security contract with the costs associated with such contract imposed on all market suppliers. The fuel security contracts will support the continued operations of two generating units located just north of Boston and deemed critical by ISO-NE to maintain both fuel security and system reliability over the next two years (from June 2022 through May 2024). This cost allocation has resulted in a minor increase of $0.002 per kilowatt hour in the overall cost of electricity.
Leverett consumers use an average 600-kilowatt hours of electricity per month. With the adjusted cost included, this means ratepayers’ average bill will increase by approximately $1.20 a month compared to current program rates. This price adjustment will be effective with the July 2022 meter reads and remain fixed through December 2022, when the current contract ends.
The Leverett Community Choice Power Supply Program continues to provide local ratepayers with two different options for their electricity:
The programs’ initial cost per kilowatt hour and adjusted cost per kilowatt hour are detailed in the chart below.
Leverett Community Choice Program Product Rates Per Kilowatt Hour
|
Opt-Out Product |
Current Opt-Out Rate Per KwH |
Price Increase Per KwH |
New Opt-Out Rate Per KwH |
% Increase Opt-Out |
|
100% National Wind RECs |
$0.10052 |
$0.002 |
$0.10252 |
1.99% |
|
Opt-In Product |
Current Opt-In Rate Per KwH |
Price Increase Per KwH |
New Opt-In Rate Per KwH |
% Increase Opt-In |
|
100% MA Class I RECs |
$0.12289 |
$0.002 |
$0.12489 |
1.63% |
It is important to note that all electricity suppliers operating in Massachusetts, including Eversource, are subject to the new fuel security and system reliability regulation and the related pricing adjustment.
Increased Local Control, Renewable Energy
Leverett launched its electricity program in March 2019 in an effort to develop an energy program that would be affordable and incorporate renewable energy. The creation of Leverett’s energy program has allowed for greater control over the environmental characteristics and the price of the electricity residents use. Both of Leverett’s program options help to decrease ratepayers’ carbon footprint.
For added consumer protection, there are no enrollment, early termination, or cancellation fees attached to the Leverett electricity program. To date, approximately 150 Massachusetts communities have created their own community choice electricity programs to benefit residents.
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.
For additional information about the Leverett Community Choice Power Supply Program, visit colonialpowergroup.com/leverett or call (866) 485-5858 ext. 1.
###
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.
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