About PowerOptions
PowerOptions is currently offering open contracts for electricity and/or natural gas supply.
History
PowerOptions was created by the Massachusetts Health and Educational Facilities Authority in 1996 to enable nonprofit organizations to benefit from the deregulated electricity and natural gas industries. It quickly grew into the largest and most influential power buying group in Massachusetts, which as of 2008 included more than 500 members contracting for supply of over 200 MW and 9 million decatherms/year of natural gas.
In 1998, when the electricity and natural gas industries were deregulated, PowerOptions was the first buying group to offer contracts to its members. Savings have been extraordinary with members saving over $300 million during the last ten years by taking their supply in the competitive market rather than relying on regulated rates.
The PowerOptions program model relies upon active involvement of members. An Institutional Advisory Council meets monthly to provide oversight, to test ideas, and to help communicate with other members. PowerOptions has also been diligently representing members. interests on several fronts:
- The PowerOptions staff works with each local electric company on areas affecting our members - for example, we were able to identify members who were erroneously paying sales tax on their electric bills, resulting in more than $1 million in savings returned to our members.
- PowerOptions also regularly monitors Department of Public Utilities (DPU) policy to ensure that consumers. interests are represented.
- PowerOptions holds a seat on the Participants Committee of NEPOOL, The New England Power Pool, providing a voice for consumers in how pricing for electricity will be determined and how the market will continue to develop.
In addition to this advocacy, the PowerOptions full-time professional staff is available for advice and information on members' energy needs. Regular educational events inform the membership about the status of deregulation, the market and the program, and informational bulletins are mailed regularly.
PowerOptions Membership is open to all nonprofit and public entities in Massachusetts. Members pay an annual fee based upon the size of the institution's annual electric bill, and sign a release enabling PowerOptions to obtain usage information directly from the utility companies. Membership is voluntary and non-obligatory -- members are not required to sign contracts for energy supply. Click to find out more about membership.
