To see this article as a pdf file, as it appears in print, please click HERE and scroll down.
The Community Power Coalition of New Hampshire (CPCNH) has announced a significant drop in its base electric rate for spring 2024. Member communities will see a 26% reduction in its base electric rate to 8.1¢ per kilowatt-hour (kWh). This marks the third consecutive rate period in which CPCNH has offered the lowest residential energy supply rates in the state.
CPCNH has transformed New Hampshire’s energy scene since it launched service in April 2023. Its mission is to empower communities to take control of their energy future, reduce electricity rates and provide for more consumer energy options. By launching and operating Community Power Aggregation (CPA) programs, it gives communities more local control over both rates and energy sources. Already it represents 30% of New Hampshire’s population, with more than 50 members serving almost 60 communities, and more lining up to come on board.
“In the first seven months of the program, there has been about eight million dollars of electric bill savings remaining in the pockets of Granite Staters,” said Henry Herndon, the Director of Member Services. “And we’re going to see these numbers really grow as more and more towns come online.”
The Coalition offers several key advantages over competing models from utility- or broker- administered default supply:
- Its active portfolio management of wholesale power contracts enables the flexibility to respond to changing market conditions.
- It has a locally controlled and transparent process for setting rates
- Because it is a nonprofit, net revenues are deposited into financial reserve accounts to ensure long-term stability and benefits for member communities.
Savings That Speak Volumes
CPCNH’s new rates, effective from February 2024, position the Coalition as a frontrunner in the competitive electricity market. The savings offered are nothing short of impressive – 24% off Unitil’s residential rate, 20% off NH Electric Co-op’s, 17% off Liberty’s, and 2% off Eversource’s. Even though Eversource Default Energy Service customers benefit from a reconciliation credit, CPCNH outperforms its rates.
Brian Callnan, CEO of CPCNH, expressed enthusiasm about the cost-saving options, stating, “We are thrilled to once again offer millions of dollars in savings to our customers. We continue to strive toward offering greater community control, customer choice, and the best electric rate possible for our growing list of member communities.”
In addition to cost savings, CPCNH remains dedicated to fostering environmental sustainability and community empowerment. The Coalition provides customers with the opportunity to choose between 100%, 50%, and 33% renewable power options, all at rates comparable to Unitil, Eversource, and Liberty base rates.
Expanding Horizons
CPCNH’s growth trajectory is remarkable. In March, twelve more “Wave 2″ communities will join the Coalition, making it the second-largest electrical supplier in New Hampshire. The town of Durham will be one of these communities. “We’re very excited to be moving to launch Durham Community Power for the benefit of our residents and businesses,” said Durham Town Administrator Todd Selig in a statement. Selig highlighted the rate benefits for this cycle, and green energy benefits to come: “In future cycles, we are hopeful to be able to also provide a higher percentage of green renewable energy mix as a default, but that will be price dependent.”
Last October, Cheshire County became the first county Community Power member in New Hampshire. The adoption of this county membership helps towns in Cheshire County adopt Community Power quicker by allowing towns to decide to use the County Community Power Aggregation rather than develop their own. This “fast track” approach helps get the benefits of Community Power to Cheshire County residents faster.
“We are thrilled to be able to bring this increased control and cost savings to our county government. Offering a “fast track” approach for the city and towns in our County, will also allow them to enjoy the extensive benefits of Community Power in a simple and straightforward manner,” explained Cheshire County Commissioner Terry Clark.
The Towns of Dublin, Fitzwilliam, Nelson and Roxbury were the first to join Cheshire Community Power with others expected to soon follow.
Community Power Coalition of New Hampshire continues to show the possibilities of affordable and sustainable energy options for communities across New Hampshire. As CPCNH continues to expand and innovate, the positive impacts of community-led energy initiatives will continue to serve as a model of success for New Hampshire.
Leave a Reply