New Sharon Power Choice prices in January 2024

SHARON, MA - Prices for Sharon Power Choice, Sharon’s electricity aggregation program, will be updated when the current contract with Constellation ends and a new, 36-month contract with Direct Energy Services, LLC (“Direct Energy”) takes effect in January 2024.

Sharon Power Choice offers participants three options to choose from: Standard, Green, and Basic. The new prices for each option as of Jan. 1, 2024 are as follows:

Sharon Power Choice Standard – 13.84 cents/kWh: This option includes an additional 20% renewable electricity from new energy projects in the New England region (MA Class I RECs) above the minimum state requirement. Most participants are enrolled in this option.

Sharon Power Choice Green – 15.49 cents/kWh: This option includes 100% renewable electricity from new energy projects in the New England region (MA Class I RECs).

Sharon Power Choice Basic - 13.17 cents/kWh: This option includes the minimum amount of renewable electricity required by law and is the lowest-priced option in the program.

The new Direct Energy prices are designed to provide long-term stability and are fixed for 36 months, from January 2024 to January 2027 meter reads. These new prices, which reflect current market conditions and regulatory costs, will be higher than prices were from 2021 through 2023. For comparison, for electricity customers that are not in the program and have their utility’s Basic Service price, Eversource’s residential Basic Service price will be 17.251 cents/kWh starting January 1, 2024, and National Grid’s residential Basic Service price is currently 18.213 cents/kWh. Both prices will be in effect through July 31, 2024. Because Eversource’s and National Grid’s prices change, and their future prices are unknown, savings from the Sharon Power Choice program cannot be guaranteed over the 36-month program term.

Sharon Power Choice has a track record of providing measurable value to the community, including providing price protection during last winter’s volatile electricity market. From the program’s launch in 2021 through September 2023, Sharon Power Choice has saved participants more than $7 million. In addition, through the program, participants in the Standard and Green options receive more of their electricity from renewable resources than is required by law. The program has helped the community to avoid more than 17 million pounds of CO2 emissions. This is equivalent to the emissions associated with more than 1,716 gasoline-powered passenger vehicles for a year.

It is important to note that, while the Town aims to provide prices that are competitive with Eversource and National Grid, Eversource’s and National Grid’s prices change, and their future prices are unknown. As a result, future savings compared with Eversource and National Grid cannot be guaranteed.

No action is required for current Sharon Power Choice participants. All active program participants will automatically be enrolled into the new Direct Energy contract with their January 2024 meter read. The new program price will first appear on February 2024 Eversource and National Grid electric bills, and the electricity supplier will be listed as “Direct Energy – Sharon Power Choice.”

Participants will be enrolled in the same program option they have in the current Constellation contract. However, participants may choose a different program option or leave the program before the contract with Direct Energy takes effect, and at any time in the future, with no penalty or fee.

Tax-exempt account holders will need to submit tax-exemption documentation to Direct Energy to retain their tax-exempt status in the program. This documentation must be submitted to Direct Energy even if it was submitted previously to Eversource, National Grid, or Constellation. Information about where to submit tax-exemption documentation is available at SharonPowerChoice.com.

Sharon Power Choice is a group electricity purchasing program from the Town of Sharon for Sharon residents and businesses with oversight by the Sharon Energy Advisory Committee. Massachusetts state law allows cities and towns to choose the electricity supplier for their electricity customers rather than have the local electric utility, which is Eversource and National Grid for Sharon, buy their electricity. Sharon Power Choice 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 Eversource and National Grid use to calculate the Supply portion of participants’ electric bills. Eversource’s and National Grid’s delivery charges are not impacted by participation in Sharon Power Choice. Additional terms and conditions apply to large commercial customers.

To enroll, make changes to enrollment, or get more information, participants are encouraged to visit the program website at SharonPowerChoice.com or contact customer support with Sharon’s program consultants at 1-855-854-7498.