Harvard Electric Aggregation Program Signs 2-Year Contract at 14.841 cents/kWh, 100% Renewable

 

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Lancaster's Community Choice Aggregation Program will soon have to sign a new contract for electric supply after December, but the town hasn't released any information yet.   Harvard's program just announced a new 2-year contract:  they have locked in 14.841 cents/kWh for two years.    Even better, 100% of that power will come from renewable sources. 

 

Lancaster will need to announce a new electric supply contract for it's Community Choice Aggregation Program soon.  The current contract ends in December.

Harvard just signed a new 2-year contract for 14.841 cents/kWh.  They've been interesting to watch for the last few years because they are on roughly the same renewal schedule as Lancaster.  When their current contract ends in November, Residents in their program will be charged 14.841 cents/kWh on the supply portion of their bill.   Massachusetts requires that 59% of power in these contracts be from renewable sources, but Harvard has opted to exceed that.  100% of Harvard's power will come from renewable sources.   Harvard residents can opt for an alternate plan that's only 59% renewable, but it will only save them two-thousandths of a cent per kWh.

 National Grid's "default supplier" rate will be 18.213 cents/kWh for November-June.    They are required by the state to sign supplier contracts for shorter periods than the Community Choice Aggregation Programs, so their rates tend to whipsaw rather dramatically.

Lancaster's Community Choice Aggregation Program has been on the ropes for the past three years.   At point this year, it had offered a more rate more expensive than the National Grid "default supplier" for 12 of the previous 18 months.   This year residents in the program paid 29.984 cents into June, and then 14.781 cents for July through November.  (Harvard residents paid 13.010 cents; that was for a 100% renewable energy contract versus the 59% renewable contract in Lancaster.)

If Harvard is any indication, Lancaster should be able to sign a contract for several years at a rate that offers some relief from what we've seen recently.  Lancaster should follow Harvard's lead and take this opportunity to adopt a 100% renewable energy contract.