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Community power program braces as Eversource default rate rises; town signs one-year extension with Freedom Energy
Summary
Town energy update: Eversource filed to raise its default service rate to 14¢ starting Aug. 1; the town’s community power participants remain on a lower rate, and staff said the town has a one-year extension with Freedom Energy to lock prices expected under 13.5¢ to keep rates below Eversource’s new level.
Paul, a member of the utility committee, told the committee that Eversource has filed for a higher default service rate and that the increase is approved to start Aug. 1. “It’s going from 11.3¢ to 14¢,” Paul said, adding the change will last through the end of February.
Paul briefed the committee on local enrollment and usage for the community power program, saying the first months of billing covered about 6.7 million to 6.9 million kilowatt-hours billed under the town’s current 9.5¢ rate and that enrollment stood at about 9,277 active participants. He warned that usage is likely to rise with recent heat and that bills will reflect that increase.
On the town’s procurement, Paul said the town has signed an agreement to extend its contract with Freedom Energy for one year, aiming to lock in prices before fall market shifts. “We have a signed agreement, I understand, from 3rd to 13.5¢, which will be below the Eversource rate,” Paul said, characterizing the extension as a measure to keep town participants’ rates below the new Eversource default.
The chair said staff will provide a dollar-value estimate of expected savings at the next meeting. Committee members asked for a follow-up briefing with concrete numbers on projected savings and the contract’s terms; James (town staff) was asked to help coordinate that next update.
What happens next: staff will present more detailed savings estimates and contract specifics at a future meeting so the committee can compare the extended Freedom Energy pricing versus Eversource’s approved default service rate.
