Lower price for most Foxborough Power Forward participants beginning in October
FOXBOROUGH, MA. Foxborough Power Forward, Foxborough’s Town electricity program, will offer a lower price for most participants starting in October. The lower price is the result of a new electricity supply contract with Dynegy, which will take effect as Foxborough’s current contract with Direct Energy ends.
Foxborough Power Forward includes two electricity choices, Power Forward Standard, which is the default program offering, and Power Forward Green, which is a 100% renewable energy option. Beginning with October 2020 meter reads, the new price for Power Forward Standard will be 10.367 cents/kWh. This new price is 1.42 cents/kWh lower than the current price. The new price is also more than two cents lower than National Grid’s winter residential Basic Service price of 12.388 cents/kWh, which will take effect on November 1. As a result of the new contract, an average Foxborough household enrolled in Power Forward Standard and using 600 kWh/month would see a monthly savings of $8.52 when compared with the current price for Power Forward Standard. The majority of participants in Foxborough Power Forward are enrolled in the Power Forward Standard offering.
The new contract will also increase the amount of New England-based renewable electricity in the Power Forward Green option. Currently, Power Forward Green participants receive 100% renewable electricity, but the majority is generated by wind projects outside of New England. With the new Dynegy contract, Power Forward Green participants will receive all of their electricity from renewable energy projects within New England. By increasing the demand for locally produced renewable electricity, participants in Power Forward Green will now help to drive the development of new renewable energy projects on the New England grid more aggressively than in the past. As a result of this change, the Power Forward Green price will increase to by 1.093 cents/kwh to 13.223 cents/kWh.
“Foxborough Power Forward continues to provide strong benefits for our community,” said Foxborough Town Manager Bill Keegan. “Through the program, our community has a trustworthy alternative to the high prices and early termination fees that can come with other electricity offers in the marketplace. In addition, Foxborough Power Forward has saved the community more than $1.2 million since the program launched in 2017.”
The new prices are the result of a 24-month contract with Dynegy and apply to all rate classes, including residential, commercial, and industrial accounts. The new prices will be fixed from October 2020 until October 2022. The long duration of the price makes the program different from National Grid’s Basic Service. National Grid’s fixed Basic Service prices change every six months for residential and commercial customers and every three months for industrial customers. Long-term price stability can also make the program different from many electricity supply offers in the marketplace, which can offer a low introductory price that rises after the introductory period is over. Foxborough Power Forward prices would only change in the event Massachusetts law changes and that change in law requires Dynegy to incur costs that they did not anticipate when the contract was signed.
All active program participants will automatically be enrolled into the new Dynegy contract with their October meter read, and they will be enrolled in the same program option they have in the current Direct Energy contract. Participants will first see the new program price on their November 2020 National Grid electricity bills, and their electricity supplier will be listed as Dynegy – Foxborough Power Forward Aggregation.
Participants in Foxborough Power Forward will be enrolled in the same program option they have in the current Direct Energy contract. However, participants may choose to opt up to Power Forward Green, change back to Power Forward Standard, or opt out of the program before the contract with Dynegy takes effect, and at any time in the future, with no penalty or fee. Those who wish to change their program option or opt out before being enrolled in the contract with Dynegy should make their change no later than 10 days before their October 2020 meter read date, which can be found on the National Grid electricity bill received in September. Changes can be requested on the program website, FoxboroughPowerForward.com, or by contacting customer support at 844-241-8596. Anyone wishing to enroll in the new contract may also do so on the website or by calling customer support.
It should be noted that, during the course of the contract with Dynegy, National Grid’s Basic Service prices may at times be lower than the Foxborough Power Forward price. Foxborough Power Forward aims to provide savings when compared with the average of National Grid’s changing prices, not when compared with each individual National Grid price. However, because future National Grid prices are not known, savings compared with National Grid’s Basic Service prices cannot be guaranteed.
Tax-exempt account holders will need to submit tax-exemption documentation to Dynegy to retain their tax-exempt status in the program. This documentation must be submitted to Dynegy even if it was submitted previously to National Grid and Direct Energy. To be in compliance with Massachusetts Department of Revenue requirements, each electricity supplier is required to obtain tax exemption documentation from each tax-exempt account holder that they serve. Information about where to submit tax-exemption documentation is available on FoxboroughPowerForward.com.
Foxborough Power Forward is a group buying program for electricity from the Town of Foxborough for Foxborough residents and businesses. Massachusetts State law allows cities and towns to choose the electricity supplier for their electricity customers rather than having the local electric utility, which is National Grid for Foxborough, buy their electricity. Foxborough Power Forward 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 National Grid uses to calculate the supply services portion of participants’ electricity bills. National Grid’s delivery charges are not impacted by participation in Foxborough Power Forward.
More information is available by visiting the program website at MassPowerChoice.com/Foxborough or by calling customer support with Foxborough’s program consultants at 844-241-8596.
###