Electric Aggregation Program
MONTEREY ENERGY PROGRAM ANNOUNCES NEW RATE
FOR IMMEDIATE RELEASE
September 29, 2023
MONTEREY, MA – The Town of Monterey has signed a twenty-four month contract with its current supplier, Dynegy Energy Services. Beginning with the November 2023 meter reads, the Monterey Community Choice Power Supply Program will have a new rate of $0.15051 per kWh.
For Monterey residents and businesses who are enrolled in the Town’s Program, the current rate of $0.09950 per kWh will expire with the November 2023 meter reads and the new rate of $0.15051 per kWh will take effect. This represents an increase of $31 per month on the supply side of the bill given average usage of 600 kWh. However, this new rate is 17 percent lower than National Grid’s recently announced Residential Basic Service rate of $0.18213 per kWh. Residents can expect to see an average savings of $19 per month for the months of November 2023 through July 2024*.
“We recognize that the fluctuations in the cost of electricity can be troublesome for our residents,” said Melissa Noe, Monterey Town Administrator. “We’re pleased to be able to offer long term stable rates that will also provide savings to our residents this winter.”
Monterey launched its electricity program in November 2015 in an effort to develop an energy program that would be stable, affordable and incorporate renewable energy. From inception through May 2023, the Program has saved residents and small businesses over $1 million in electricity costs as compared to National Grid Basic Service.
It is important to note that no action will be required by individual consumers. This change will be seen on the December 2023 bills. All accounts currently enrolled in the Program will see the new rate under the “Supply Services” section of their monthly bill.
The Monterey 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 National Grid Basic Service. However, such savings and future savings cannot be guaranteed.
National Grid has several programs to help income-eligible families and customers needing special assistance meet their energy needs. To learn more visit nationalgridus.com/MA-Home/Bill-Help/Payment-Assistance-Programs.
Residents may also visit colonialpowergroup.com/monterey or call (866) 485-5858 ext. 1 to learn more about Monterey’s Community Choice Power Supply Program or to opt-in or opt-out.
To join Monterey’s Program, you can do one of two things:
- Visit colonialpowergroup.com/monterey and click the OPT-IN button, then fill out and submit the Opt-In Form.
- Call Dynegy at (866) 220-5696 and ask to join the Town of Monterey’s Program.
For both of the above options, you should have your National Grid bill handy in order to provide some required information. Enrollments can only be processed on meter reads so it may take one or two billing cycles before taking effect. If you are currently contracted with your own competitive supplier, you should confirm with them that you will not incur any early termination fees or penalties for leaving their supply.
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 National Grid’s Basic Service. However, such savings and future savings cannot be guaranteed.
Residents may also contact Colonial Power Group, the Town’s aggregation consultant, at (866) 485-5858 ext. 1 with questions about Monterey’s Community Choice Power Supply Program or to OPT-IN or OPT-OUT.
*Normally, the term would be through April 2024 but this is a transition term. The Massachusetts Department of Public Utilities issued an Order on September 1, 2023 that requires National Grid to 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.]