Malden Community Electricity is a program that will allow the City to use the combined purchasing power of all its residents to secure new electricity supply rates and more renewable energy. National Grid, the City’s electricity utility, can only go out to bid a limited number of times per year, and residents are locked in to the rates they’re able to get. With Malden Community Power, we can get new rates with a lot more flexibility (like if we see the rates going down). Energy is still delivered by National Grid, but residents get the potential benefits of a lower cost because of the City’s facilitation. (Disclaimer: Savings cannot be guaranteed because future basic service rates are unknown.)
The City Council has approved this initiative, and the City recently brought on Good Energy as its broker. Good Energy will handle the actual bidding process, through which we will ask energy providers for the lowest rate they can provide.
A certain percentage of the energy the City buys through this program will be renewable, and residents can chose to pay slightly more to increase the portion of their energy produced by renewable sources. Residents can also choose to opt out of the municipal aggregation program if they want to, once the program is up and running.
This page will be updated as the project moves forward.