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[0:59] ..." price cuts and what is his we're going for fourteen cents. The kilowatt hour to eleven cents a kilowatt hour. And what's driving this is really. Energy prices -- mean everyone knows the energy prices are high these days for all kinds of fuels but. Very recently there's been -- slight decline in the fuels used to"...
[2:13] ..." Yes we purchased for those customers on six month rolling basis and so those rates won't change again until January 1. And we'll know what those prices are come November so -- it's"...
[2:36] ..." So this will be eleven of -- eleven cents per kilowatt hour correct okay. Compared to last year what was the what was the cost last year just to sort of put it in perspective you know that I don't know -- top -- Okay could do that -- I can analyst Craig okay -- that's quite all right. Overall. Have electrical prices been rising like we have seen in the oil prices natural gas and in other -- the forms -- commodities."...
[3:02] ..." they have and it really is all connected when it comes to energy prices because we're seeing you know rising prices for loyal. Gasoline natural gas and many of these fuels are used to generate electricity"...
[0:00]" WOR. OK OK are happening that. Yeah recording -- that topic. Okay the first we'll just middle background what what is the announcement and who would affect."
[0:11]" Sure. The announcement today is that electricity prices are dropping I. Close to 21%. Some of the State's largest businesses. And what it is is that we you know since deregulation -- a lot of -- for electricity for customers. And we secured contracts this time around that are significantly lower as we head into the fall. Now."
[0:34]" Is this a seasonal. Price cut."
[0:38]" Yes because these customers. We purchased for them every three months and so these are their prices for the next three months it'll be October November December."
[0:48]" And tell me about these price cuts how much will be. And who would affect."
[0:52]" Sure. More than a thousand of the -- our largest customers in and start service territory will see these price cuts and what is his we're going for fourteen cents. The kilowatt hour to eleven cents a kilowatt hour. And what's driving this is really. Energy prices -- mean everyone knows the energy prices are high these days for all kinds of fuels but. Very recently there's been -- slight decline in the fuels used to generate electricity. And that's resulted in lower rates immediately for some of our largest customers."
[1:24]" In terms of numbers how many customers will be affected by the price cut."
[1:28]" There's just over a thousand of our largest customers that purchased electricity through others purchased through an alternate supplier."
[1:35]" Give me an idea of what types of customers are we talking about industrial customers."
[1:39]" Sure these are commercial and industrial customers and we also."
[1:44]" You may -- we had a quote from the Cambridge side gallery in -- so we're talking about malls and industrial customers and commercial customers and and really you know those who use the most power and also helped drive our economy so there's a real trickle down effect there that -- and they have. Lower prices it really helps them. To you know offer service at a competitive price."
[2:06]" Now what about your other customers obviously are those who are residential or medium size companies a smaller companies."
[2:13]" Yes we purchased for those customers on six month rolling basis and so those rates won't change again until January 1. And we'll know what those prices are come November so -- it's a good sign when we start to see the prices go down as we head into the fall and winter month. That hopefully to residential prices will go down as well but it is just to tell too early to tell."
[2:36]" So this will be eleven of -- eleven cents per kilowatt hour correct okay. Compared to last year what was the what was the cost last year just to sort of put it in perspective you know that I don't know -- top -- Okay could do that -- I can analyst Craig okay -- that's quite all right. Overall. Have electrical prices been rising like we have seen in the oil prices natural gas and in other -- the forms -- commodities."
[3:02]" Yes they have and it really is all connected when it comes to energy prices because we're seeing you know rising prices for loyal. Gasoline natural gas and many of these fuels are used to generate electricity and so that result in higher degree as well. Well thank you for the information of and I well are you right back urgent call someone back -- don't know where we weren't sure you can illegals that."
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