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Energy committee recommends five-year contract with Constellation to lock a low municipal electricity rate
Summary
After reviewing market quotes and broker advice, the energy committee recommended a 60-month contract with Constellation; the board authorized staff to sign a contract not to exceed the quoted rate while requesting sample blend-and-extend contract language for future flexibility.
The Select Board debated and approved a motion to move forward with a municipal electricity supply agreement with Constellation, following an energy-committee presentation on market conditions and supplier quotes. The energy-committee presenter (Speaker 7) said updated rates were recently refreshed and valid only for a short window; the committee recommended the five-year term because it offered the lowest rate among current suppliers and the potential to save relative to the Eversource default.
"I think our recommendation is still to go with Constellation, due to them having the lowest cost relative to the other suppliers," the presenter said. The committee also discussed "blend and extend" options — a mechanism to capture future lower market rates while lengthening contract terms — and requested sample contract language from other suppliers that include written blend-and-extend clauses. The board moved to approve authorizing signature on a Constellation agreement with a not-to-exceed figure discussed in the meeting and asked staff to try to secure an earlier quoted price if possible. The motion passed by voice vote.
