Energy Aggregation Update!
The full announcement from the Township can be found here.
Two years ago, five Essex County municipalities – Glen Ridge, Maplewood, Montclair, South Orange and Verona – formed the Sustainable Essex Alliance (SEA) to promote high quality green energy and reduce the cost of electricity for our residents. The SEA’s energy consultant, Gabel Associates, estimated that in the first 12 months of the program the aggregate savings for the participating residents in Montclair was $684,000. The current contract with Direct Energy ends in December 2020. The SEA has now expanded to include Glen Rock and Livingston and has awarded a contract to Energy Harbor for Round 2. Because of unfavorable conditions in the energy market during the bidding process, there will be a brief gap in the program. During that time, energy supply will default to PSE&G for participating residents beginning in January 2021 with no action necessary. When the new contract begins in March, all residents will once again automatically transition to the new supplier.
Under the new contract with Energy Harbor, the baseline product will again provide participating residents with power supply that has nearly double the renewable energy content required of PSE&G, at a price of $.12830/kwh, which is well below the current average Basic Generation Service tariff price of PSE&G. Therefore, residents can expect to receive power supply under Round 2 of the SEA program that is greener than utility-provided power supply, and at a cost that is expected to be lower than the cost of utility-provided power supply over the contract term.
See the announcement linked above for full details.