![]() ![]() The residential energy rate is anticipated to be 14 cents/kWh this winter. These costs are incurred by the Ipswich ELD to procure energy on behalf of our customers subsequently, these costs are passed on to our customers. generation) and the cost of bringing that energy from throughout the region to Ipswich (i.e., transmission). The energy rate is the commodity cost of power (i.e.The base rate is intended to fund operations of the department, which are necessary to deliver reliable electrical service residential customers pay 5.85 cents for every kilowatt-hour (kWh) consumed.This minimum service charge is intended to cover the cost of producing the bill, regardless of how much electricity is consumed for residential customers the fixed charge is $4/month. For most customers, there is a basic fixed charge each month.Ipswich ELD rates have several components. ![]() Customers can also call (978) 356-6635 and speak to one of our Customer Service Representatives about various resources for financial assistance with their utility bills. Please visit our Financial Assistance page for more information about these resources. and Catholic Charities to connect them with customers who need help. We work closely with community assistance organizations, like Action Inc. Of the 65% that we have already procured, roughly half is sourced from hydroelectric facilities, one-quarter from nuclear, and the remainder from wind and solar. Additionally, we deliberately seek to hedge against market volatility by locking in prices with long-range contracts, rather than allow rates to rise and fall exclusively based on the open wholesale market.Īpproximately 65% of the Ipswich power portfolio is made up of contracts that have already locked in pricing, while 35% remains open to market volatility. In Ipswich, we strive to source our customers’ power from a diverse array of generators, including wind, hydro, solar, and nuclear resources. Similar to a financial portfolio, where there might be a combination of savings, stocks, and perhaps a retirement account, the power portfolio can include different types of contracts and sources of generation. The term “balanced power portfolio” refers to the resources that are used to produce the power that we consume, as well as the method of procuring those sources. Of course, if market conditions are more severe than projected, additional rate increases may be required to deliver power to customers. The ELD is exercising additional financial tools, including strategic draw-down of Rate Stabilization funds, to help mitigate additional increases. We have structured existing rate increases in such a way that we hope to avoid additional increases in the foreseeable future. Will there be another increase, like what we saw in 2022? ![]()
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