New electric rate competes with community electricity in Waltham, with its renewed rate coming next year

Following a supply rate change in February, Eversource’s electricity cost per kilowatt hour (c/kWh) has dropped below the standard cost of the Waltham Community Electricity (WCE) program — but what does this mean for residents?

WCE is an electricity supply alternative launched by the City of Waltham in 2021. It is managed by energy consultant company Good Energy, and the program supplier is Dynegy, an electricity services company.

Like many municipalities in Massachusetts, Waltham offers the municipal aggregation program to offer a competitive and cost efficient energy alternative to residents. 

WCE offers residents the choice of three different electricity plans. The standard rate, which is the default, is about 15 cents per kilowatt hour. The “Waltham Plus” plan is about 16 cents per kilowatt hour. “Waltham Basic” is about 14 cents per kilowatt hour. 

Both the standard and “Waltham Plus” plans include more Renewable Energy Certificates than are required by the state, meaning residents with those plans are helping to contribute to the growth of renewable energy in the region. 

On Feb. 1 the Eversource rate changed, and at about 13 cents per kilowatt hour it is now cheaper than WCE. But it is not clear how long it will be cheaper. Eversource’s rates fluctuate twice a year, on Feb. 1 and Aug. 1, depending on energy demand.

WCE’s current rates were set in December 2023 and will run through December 2025. Stefano Loretto, a business development director for Good Energy, confirmed that the company works with the City of Waltham on renewal rates, but said he was unable to discuss what the new rate may be.

Consumers can browse electricity supply rates based on their zip code with Energy Switch Massachusetts, a site created by the Massachusetts Department of Public Utilities. According to the site, the current Eversource rate is the cheapest option for businesses in Waltham.

Deirdre Cummings, legislative director at MASSPIRG, a nonprofit public interests advocates’ group, said residents should always be wary about switching to third-party suppliers, because they often end up costing more.

For example, a 2024 competitive electric supply report from the Office of the Attorney General found that Massachusetts customers who switched to competitive suppliers ended up paying over $577 million more on their electric bills than if they had stayed with their original supplier.

“A reminder: the cheapest form of energy is the energy we do not use,” Cummings said. “Consider having Mass Save conduct home efficiency audits, use programmable thermostats, use energy efficient light bulbs [and more].”