COLRAIN ENERGY PROGRAM ANNOUNCES NEW RATES
The Town of Colrain has signed a twenty-four month contract with its current supplier, Dynegy Energy Services.
FOR IMMEDIATE RELEASE CONTACT: Kevin Fox,
December 1, 2023 Town Administrator
413-624-6306
Mark Cappadona
508-485-5858 ext. 3
COLRAIN ENERGY PROGRAM ANNOUNCES NEW RATES
COLRAIN, MA – The Town of Colrain has signed a twenty-four month contract with its current supplier, Dynegy Energy Services. The Colrain Community Choice Power Supply Program, tailored to meet the specific needs of the Town’s electricity ratepayers, will continue to offer the same options at new rates as well as one new option:
- A standard product that meets Massachusetts Renewable Energy Requirement (MA Req) of 62.3% at a rate of $0.14159 per kWh.
- An optional product that meets MA Req plus uses an additional 38% National Wind Renewable Energy Certificates (RECs) at a rate of $0.14302 per kWh.
- [NEW] A second optional product that uses 100% Massachusetts Class I RECs at a rate of $0.18092 per kWh.
For Colrain residents and businesses who are enrolled in the Town’s standard product, the current rate of $0.09345 per kWh will expire and the new rate of $0.14159 per kWh will take effect with the January 2024 meter reads. This represents an increase of $29 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*.
“Even though the cost of electricity has increased since the last time we were in the market, we are still able to offer rates that provide savings to start and stability for the next two years,” said Kevin Fox, Colrain Town Administrator. “In addition, we are able to offer a second green product that provides residents and businesses another option to help reduce their dependence on non-renewable energy sources.”
Colrain launched its electricity program in August 2020 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 $529,000 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 offering and see the new rate under the “Supplier Services” section of their monthly bill. If you would like to choose the Town’s new optional product, please visit colonialpowergroup.com/colrain to opt-in.
The Colrain 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/colrain or call (866) 485-5858 ext. 1 to learn more about Colrain’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.
Posted: to General Town News on Thu, Nov 30, 2023
Updated: Thu, Nov 30, 2023