Lincoln Green Energy Choice moves to soften rate increases while providing more clean electricity
LINCOLN — The Town of Lincoln has entered into a new, 12-month electricity supply contract with First Point Power for the Lincoln Green Energy Choice electricity program. The new contract will take effect in January when the current contract with First Point Power comes to an end. While the current contract has kept program prices low in spite of the recent and rapid rise of electricity prices, Lincoln Green Energy Choice prices will move closer to market prices when the new electricity supply contract takes effect in January. However, the new prices will be lower than Eversource’s winter Basic Service prices, which will also take effect in January. In addition, with the new contract participants who have not yet opted up to the Lincoln 100% Green level will receive more of their electricity from renewable sources. The increase in renewable energy advances the Town’s progress on its goal to reduce the community’s carbon emissions. Since the program launched in March of 2021, participants in Lincoln Green Energy Choice have already avoided over 9 million pounds of CO2 emissions, which is equivalent to removing 880 passenger vehicles from the road or eliminating the electricity use of 794 homes for a year. The new price for the Lincoln Standard Green offering will be 22.316 ¢/kWh. With the new contract, participants in Standard Green will receive more than 50% of their electricity from premium renewable energy sources in the New England region (MA Class I RECs) – 22% required by state law and an additional 32% added by Lincoln. This additional amount is an increase over the 27% additional provided in the current electricity supply contract. Most participants in Lincoln Green Energy Choice are enrolled in the Lincoln Standard Green offering. Participants who have chosen to opt up to the Lincoln 100% Green option and receive all of their electricity from premium renewable sources in the New England region will see a new price of 24.018 ¢/kWh. Participants who have chosen the Lincoln Basic option will see a new price of 21.206 ¢/kWh. While the new prices represent a significant increase over current prices, they are all lower than Eversource’s winter residential Basic Service price of 25.649 ¢/kWh, which will also take effect in January. The new prices are expected to translate to a total of savings of over $650,000 for Lincoln Green Energy Choice participants for the first half of 2023 compared with Eversource’s residential Basic Service price. It is important to note that because Eversource’s prices are 6-month prices and will change in July, and because their future prices are not known, Lincoln Green Energy Choice cannot guarantee to provide savings beyond June 2023. Current participants in Lincoln Green Energy Choice will receive a letter in the mail from the Town informing them of the new prices. Participants will be automatically re-enrolled in the program at the new price for their current program option with their January 2023 electricity meter read and do not need to take any action. The new prices will first appear on February 2023 Eversource electric bills. Lincoln Green Energy Choice participants retain the right to make changes, such as moving from one option to another or opting out, at any time with no fee or penalty. Enrollment change requests can be submitted online at LincolnGreenEnergyChoice.com or by calling customer support with the Town’s program consultants at 1-844-651-8919. About Lincoln Green Energy Choice Lincoln Green Energy Choice is a group electricity purchasing program provided by the Town of Lincoln for the community. Through the program, the town chooses an electricity supplier for the community and determines the price for, and the amount of renewable energy in, the community’s electricity supply. The program provides a town-vetted alternative to Eversource’s Basic Service and to other electricity supply offers in the marketplace. The Town of Lincoln does not receive any financial compensation from the program. All program participants have the right to opt out at any time. Additional information is available at LincolnGreenEnergyChoice.com. Customer support is available from the Town’s program consultants via email at [email protected] or by phone at 1-844-651-8919. To learn more about the Town’s climate action planning efforts, visit the Lincoln Green Energy Committee web page at LincolnGreenEnergy.org.
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