Southborough Community Power Choice, Southborough’s Town electricity program, will offer new prices beginning with February 2022 electricity meter reads. While electricity prices have risen sharply in Massachusetts this winter, Southborough was able to secure new electricity supply prices through the program that are nearly the same as or slightly cheaper than current program prices. The new prices are the result of a new electricity supply contract with First Point Power, which will go into effect as the Town’s current contract with First Point Power comes to an end. The new contract locks in prices 34 months.
Participants have two options within Southborough Community Power Choice, and the prices will change for both:
The Power Choice Standard price will change from 10.929 cents/kWh to 10.999 cents/kWh. Power Choice Standard is the default program offering, and most participants in Southborough Community Power Choice are enrolled in Power Choice Standard.
The Power Choice Green option, which provides 100% renewable electricity to those who request it, will lower from 13.951 cents/ kWh to 13.724 cents/kWh.
Both the new Energy Choice Standard and Energy Choice Green prices are below National Grid’s six-month winter residential Basic Service price of 14.821 cents/kWh, which went into effect on November 1 and will remain in effect through April 30.
“Southborough Community Power Choice has proven to be a strong alternative to other electricity supply offers in the marketplace, and it provides measurable value to the community,” said Southborough Town Administrator Mark Purple. “To date, Southborough Community Power Choice has delivered a total of over $650,000 in savings to Southborough residents and businesses. In addition, by offering long-term prices, we have been able to insulate participants from big utility price swings, like this winter’s price increase from National Grid. With this new contract, we look forward to another nearly three years of competitive, stable prices.”
It is important to note that during the course of the contract with First Point Power, National Grid’s Basic Service prices may at times be lower than the Southborough Community Power Choice price. Southborough Community Power Choice aims to provide competitive pricing when compared with the average of National Grid’s changing prices, but because future National Grid prices are not known, future savings compared with National Grid’s Basic Service prices cannot be guaranteed.
The new prices will be fixed until December 2024. Price stability makes Southborough Community Power Choice different from National Grid’s Basic Service, which offers prices that change every six months for residential and commercial customers and every three months for industrial customers. Long-term price stability also makes the program different from many electricity supply offers in the marketplace, which can offer a low introductory price that rises after the introductory period is over.
All active program participants in Southborough Community Power Choice will automatically be enrolled into the new contract with First Point Power and the new prices with their February 2022 meter read. Participants will be enrolled in the same program option they have under the current contract. Participants will first see the new program price on their March 2022 National Grid electricity bills.
More information is available at on the program website at MassPowerChoice.com/Southborough or from customer support with the town’s program consultants at 1-833-272-9591.