The City’s Community Energy Aggregation program, which used the consolidated purchasing power of all residents to secure lower-than-market electric rates for the past 15 months, will go on hiatus when the initial contract with FirstEnergy Solutions expires at the close of May. In recent efforts to continue to program, Mayor David DelVecchio said the received bids did not provide savings below the current market electric rate to continue.
“The goal of community aggregation is to use combined market share to deliver real savings to ratepayers, and while we were able to do that over the past 15 months, the recent drop in basic electric rates meant continuing the program would not produce any appreciable savings,” said Mayor DelVecchio. “However, this more of a time-out than the end of the game. We will continue to monitor the market and rebid for the program. I am hopeful that we will be able to find a partner who can provide residents with both reliable service and significantly lower bills.”
The aggregation project, done in partnership with West Amwell Township through the multi-partner South Hunterdon Renewable Energy Cooperative, delivered a total savings in excess of $100 on average for ratepayers in both municipalities since March 2014. Under the program, the municipalities entered into a third-party electric purchasing agreement with FirstEnergy Solutions on behalf of all residential ratepayers, which delivered power at a significant savings over JCPL’s market tariff.
Residents will not notice any change in service as their basic electricity provider reverts back to JCPL — just as there was no interruption when the CEA program took effect.
The City and Township are continuing to work with the noted energy consulting firm Gabel & Associates.
A PDF copy of the official notice, with important numbers to call if necessary, can be accessed and printed by clickinghere.