Swampscott Community Power residential program participants are now saving more than two and a half cents per kWh compared with National Grid’s Basic Service price. On November 1, National Grid’s fixed Basic Service price increased 34%, from 9.432 cents per kWh to 12.673 cents per kWh for residential accounts. Commercial and industrial fixed Basic Service prices increased as well. However, the Swampscott Community Power program rate remains fixed at 10 cents per kWh until June 2019.
With the increase in National Grid’s Basic Service price, an average Swampscott household participating in the program could see an electricity bill savings of as much as $17 per month when compared with National Grid’s winter pricing. “We launched this program to provide a price savings for our residents and businesses as well as price stability and green-sourced energy. We're excited to be one of the leaders in the state to do this,” said Director of Community Development Pete Kane.
The Swampscott Community Power program is an electricity aggregation, which is a form of group purchasing in which a town selects an electricity supplier on behalf of its residents and businesses. By supplying the town with 100% green energy, the program is reducing Swampscott’s carbon footprint at the same time it provides stable electricity supply pricing for Swampscott residents and businesses. The Swampscott Community Power program provides a Town-vetted alternative to National Grid’s Basic Service and to other electricity supply offers in the marketplace.
The Swampscott Community Power program offers three options: Standard Green, New England Green, and Basic:
- Standard Green includes 100% green energy and is the default program option. Standard Green provides a price of 10 cents/kWh for all rate classes, including residential, commercial, and industrial.
- New England Green is a 100%-green-energy option with a focus on energy produced in New England. New England Green is available at 10.10 cents/kWh for all rate classes, including residential, commercial, and industrial.
- Basic does not provide 100% green energy. Like National Grid’s Basic Service, the program’s Basic offering includes only the state-required minimum amount of renewable energy. Basic is available at 9.950 cents/kWh.
Swampscott has signed a contract with electricity supplier Agera Energy that guarantees a fixed price until June 2019. After that date, Swampscott has the ability either sign a new electricity supply contract with Agera or another supplier or end the program. If the Town signs a new contract, it will announce the price of the new contract, and all active program participants will be automatically enrolled into the new contract. If the Town decides to end the program, it will announce that decision, and all active program participants will be automatically returned to National Grid’s fixed Basic Service rate.
Swampscott Community Power program participants retain the freedom to opt out of the program at any time with no penalty or charge. Those who choose to opt out will be switched to National Grid’s Basic Service rate.
Because National Grid’s fixed Basic Service prices change every six months for residential and commercial customers and every three months for industrial customers, program savings cannot be guaranteed. The program price may not always be below the National Grid price in the future. The program goal is to deliver savings when compared with the average of National Grid’s changing Basic Service prices.
More information is available by visiting the program website or by calling the Town’s program consultants at 1-844-483-5004.