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Cape's electric rates on the rise Thursday, July 03, 2008
The price for a kilowatt hour of electricity jumped 14.5 percent Tuesday from 11.1 cents to 12.7 cents for Cape Light Compact customers.
"Just this year alone, oil went up 42 percent and natural gas went up 56 percent," said Compact senior power supply planner Joseph Soares. "Those are the fuels that drive electricity prices in New England."