A consultant presented data showing the rapid increase in electricity prices due to geopolitical conflicts, highlighting the potential benefits of early contract lock-in. The board weighed the possibility of securing a stable rate now against waiting for National Grid’s bid in June, which might reflect even higher prices due to continued market volatility. The consultant emphasized the importance of stability, noting that while an early contract might result in a slightly higher rate initially, it could protect residents from more significant price spikes in the future.

Discussions included the impact of the war, the administration’s policies, and their potential to further destabilize energy markets. A consensus emerged around the importance of shielding residents from volatility, even at the cost of marginally higher rates. The board concluded by authorizing the town administrator to sign a new electricity supply contract for up to three years, effective after the current contract ends, with provisions for residents to opt out if they find better deals.