Program has saved ratepayers an estimated $11.5 million over three years.
The Franklin Community Choice Power Supply Program (also referred to as Municipal Aggregation) has successfully saved ratepayers an estimated 11.5 million dollars in electricity costs throughout the previous three-year contract. In an effort to continue to stabilize electricity costs and lower carbon emissions, Franklin has signed a new 24-month contract with energy consultant Colonial Power Group and renewable electricity supplier Dynegy Energy Services to continue to manage and supply its electricity program for all residents in Franklin.
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| Franklin Secures Stable Electricity Rate Through Renewal of Utility Relief Program |
The new fixed rate is 15 cents per kilowatt-hours (kWh); which is an increase of $.043 cents per kWh over the current rate of 10.7 cents per kWh and is slated to begin with the November 2023 meter reads and end with the November 2025 meter reads. The change will be reflected in ratepayers' December 2023 bill.
Consumers actively enrolled in Franklin's Community Choice Power Supply Program will receive a postcard. It contains information regarding the new rate + term along with a notice regarding automatic enrollment. Check your mailbox for a postcard from the Town of Franklin c/o Colonial Power, which will be mailed (to existing participating Consumers only) late September 2023.
"In these challenging fiscal times, this new contract represents a continued commitment to help stabilize electricity bills for ratepayers during this period of high inflation for all residents and small businesses," said Jamie Hellen, Franklin Town Administrator. "Also, as a certified Green Community, I know many Franklin residents are concerned about our carbon footprint. This electricity program has allowed us to reduce our dependence on non-renewable energy sources and decrease our carbon emissions by securing a contract that relies on 100% wind renewable energy."
The Franklin Community Choice Power Supply Program, is an electricity aggregation program that allows a municipality to purchase electricity in bulk on behalf of its residential and small business customers. The goal of municipal aggregation is to stabilize energy costs, achieve more affordable pricing and deliver savings over the life of the program against National Grid Basic Service, reduce the community's carbon footprint, and enhance local control in its energy purchasing. To date 10,260 meters are participating in the program and Franklin ratepayers have saved a combined $11.5 million through March 31, 2023.
Franklin Community Choice Program customers currently enrolled in the program will not need to re-enroll or do anything to continue to participate. Residents and business owners are eligible to opt-in or opt-out of the program at will, and those currently not enrolled in the program will need to enroll if interested in participating. There are no fees for enrollment or cancellation, however, residents and business owners with a supplier block on their account must contact National Grid to request that the block be removed to participate in Franklin's Community Choice Power Supply program, and 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.
As a Green Community since 2018, the Town of Franklin aims to help displace fossil fuel generation and consumption. The Franklin Community Choice Power Supply Program aligns well with the community's renewable energy program, which utilizes 100% National Wind Renewable Energy Certificates (RECs).
For questions regarding billing or enrollment status, residents and business owners must contact Dynegy Energy Services directly by calling (866) 220-5696 or by visiting colonialpowergroup.com/franklin.
Learn more about the Town of Franklin's Community Choice Power Supply Program at www.franklinma.gov/MunicipalAg.
Shared from -> https://www.franklinma.gov/home/news/franklin-secures-stable-electricity-rate-through-renewal-utility-relief-program
