Walpole Power Choice prices moving to market levels in December
Prices for Walpole Power Choice, Walpole’s electricity aggregation program, will move to market levels when the current contract with Dynegy ends and a new, 36-month contract with First Point Power takes effect in December.
The electricity market and regulatory costs have changed since the Dynegy contract was signed in 2020, and the new prices are rising to reflect current market conditions. The new First Point Power prices will be higher than current prices, but they will be lower than Eversource’s current residential Basic Service price of 16.078 cents/kWh, and lower than Eversource’s small business and large business Basic Service prices, which are all in effect through December 31. However, because Eversource’s prices will change on January 1 and their 2024 prices are unknown, savings from that date cannot be guaranteed.
Walpole Power Choice offers participants two options to choose from: Power Choice Standard and Power Choice Green. The new prices for each option are as follows:
Power Choice Standard option – 13.876 cents/kWh: This option includes no additional renewable electricity above the state minimum requirement. Most participants are enrolled in this option.
Power Choice Green option – 14.658 cents/kWh: This option includes 100% renewable energy from a mix of renewable sources both within and outside of New England.
The new prices are designed to provide long-term stability and are fixed for 36 months, from December 2023 to December 2026.
Walpole Power Choice has a track record of providing measurable value to the community, including providing price protection during last winter’s volatile electricity market. To date, Walpole Power Choice has saved participants more than $15 million since the program’s launch in 2017.
No action is required for current Walpole Power Choice participants. All active program participants will automatically be enrolled into the new First Point Power contract with their December 2023 meter read. The new program price will first appear on January 2024 Eversource electric bills, and the electricity supplier will be listed as “First Point Power – Walpole Power Choice.”
Participants will be enrolled in the same program option they have in the current Dynegy contract. However, participants may choose a different program option or leave the program before the contract with First Point Power takes effect, and at any time in the future, with no penalty or fee.
Tax-exempt account holders will need to submit tax-exemption documentation to First Point Power to retain their tax-exempt status in the program. This documentation must be submitted to First Point Power even if it was submitted previously to Eversource and Dynegy. Information about where to submit tax-exemption documentation is available at WalpolePowerChoice.com.
Walpole Power Choice is a group electricity purchasing program from the Town of Walpole for Walpole residents and businesses. Massachusetts state law allows cities and towns to choose the electricity supplier for their electricity customers rather than have the local electric utility, which is Eversource for Walpole, buy their electricity. Walpole Power Choice offers long-term pricing and consumer protections, such as the ability to leave the program at any time with no penalty or fees. Participating in the program changes the price that Eversource uses to calculate the supply portion of participants’ electric bills. Eversource’s delivery charges are not impacted by participation in Walpole Power Choice. Additional terms and conditions apply to large commercial customers.
To enroll, make changes to enrollment, or get more information, participants are encouraged to visit the program website at WalpolePowerChoice.com or contact customer support with Walpole’s program consultants at 1-844-379-9936.
###