action:article | category:NEWS02 | adString:NEWS02 | zoneID:39

Home » News » Business

August 26. 2013 9:24PM

Wolfeboro municipal electric rates expected to fall

WOLFEBORO — Nearly 6,000 Wolfeboro Municipal Electric Department customers should see lower electric bills starting in January.

According to Wolfeboro Municipal Electric Department Director of Operations Barry Muccio, the generation portion (energy supply) of about 5,800 residential and commercial customers will decrease by 24 percent. Muccio credits good timing, a dip in electric costs in general, and planning for the savings.

"Timing is everything," he said.

The decrease is a result of negotiating an extension of the Wolfeboro department's contract with energy supplier Constellation Energy, based in Baltimore, Md. He said negotiations with Constellation Energy started last year, request for proposals were sent out early and companies prequalified.

"They won the bid again," he said. He said Constellation Energy operates throughout New England and generates its own electricity, rather than buying and selling off the power grid.

The reduction could save $15 off a typical residential customer's bill.

According to a comparison provided by the electric department, a typical electric bill based on 500kWh of consumption is $83.48. In January, that bill should run $68.03 based on the same amount of electricity. In comparison, the standard PSNH customer pays about $87.75 a month, and New Hampshire Electric Coop customers pay $89.51 on average.Muccio said the reduction will be reflected in the department's annual budget as well. Most of the municipal electric customers reside in Wolfeboro, he said, with others in Alton, East Alton, parts of Tuftonboro, and a handful of customers in Brookfield.

lmulkern@newstote.com



 New Hampshire Events Calendar
    

    SHARE EVENTS FOR PUBLICATION, IT'S FREE!

Upcoming Events

  • What do you plan to do with money saved on oil and gas this year?
  • Spend it
  • 23%
  • Bank it
  • 31%
  • Pay off debt
  • 46%
  • Total Votes: 716

 New Hampshire Business Directory

  

    ADD YOUR BUSINESS TODAY!