Chelsea Public Schools Saves $236,000 Through New Three-Year PowerOptions Energy Contract

Boston, May 28, 2010 – Moving to offset a school deficit estimated at reaching as high as $3.5 million in 2012, Chelsea Public Schools has signed an exclusive, new electricity contract which will provide the school system with first year savings of $178,000 and subsequent annual savings of $58,000 through PowerOptions’ Electricity Supply Program with Direct Energy.

Chelsea Public Schools join a strong and growing movement by school systems to be more strategic and creative with their soaring energy costs by working with PowerOptions. Over the last decade, 46 school systems and local municipalities have been working with PowerOptions on energy contracts. Starting with only 12 schools in 2001, PowerOptions has added 31 individual school systems across the Commonwealth since 2004.

The three-year agreement, which begins in June, will provide Chelsea Public Schools with a significant amount of savings that will be used to fund critical school programs and teacher positions, officials said.

“The PowerOptions program has been an invaluable resource in helping Chelsea Public Schools control its energy costs,” said Chelsea Public Schools Superintendent, Thomas Kingston.

“As a school system, we are always looking for ways to spend our money smartly and preserve public resources for the classroom.”

“We are pleased to be able to provide Chelsea Public Schools with this significant level of savings,” said PowerOptions President and CEO Cynthia Arcate. “We understand how important it is for city school systems to cut costs where they can, so they can reinvest those funds into more critical areas such as teachers’ salaries, school equipment and supplies.”

“I applaud this decision by Chelsea Public Schools, which highlights their commitment to making fiscally responsible decisions that ensure that more funding is allocated to the place it is needed most – in the classrooms,” said Senator Sal DiDomenico (D-Everett).

“We appreciate the help that Direct Energy has been able to provide us by locking us into the new lower rate,” said Chelsea Public Schools Executive Director for Administration and Finance, Gerry McCue. “These resources not only enable us to provide a comfortable learning space for our students, but more importantly, the additional savings enable us to preserve our precious resources for other important areas in our budget.”

“Any efforts to save money are appreciated by all during these fiscally challenging times,” said State Representative Eugene L. O’Flaherty (D-Chelsea). “I am very pleased that Direct Energy is working to help us control costs.”

“Now more than ever it is important to save money and ease budgets wherever possible,” said Representative Kathi-Anne Reinstein (D-Chelsea). “I applaud both the Chelsea Public Schools and PowerOptions for bringing this incredible opportunity to save now and in the future to fruition.”

About Chelsea Public Schools

Chelsea Public Schools is a diverse, urban school district just north of Boston, Massachusetts. Teachers, administrators, and support staff, from pre-kindergarten through grade twelve, are dedicated to providing Chelsea students with a Bridge to Success, a commitment that graduates of Chelsea High School will be fully prepared for college and career by having 21st century skills, developing high aspirations, and receiving excellence in teaching and learning.

About PowerOptions®

The award-winning PowerOptions® was formed by HEFA in 1996 and today operates as a stand-alone nonprofit organization. It is among the largest electricity and natural gas purchasing consortiums in Massachusetts, with $220 million of annual energy commodity purchases and a combined demand of approximately 200 megawatts of electricity and 11 million dekatherms of natural gas usage. Any nonprofit or public institution in Massachusetts may become a member and participate in this collective purchasing effort. For more information, visit www.poweroptions.org.