The City is planning on joining the Hunterdon Area Energy Cooperative - Find more information about this transition about what it might mean for your electric bill (Hint: It's good news).
In our continued effort to help save residents money on their energy bills while being environmentally responsible, the City is considering participating in an energy aggregation program by joining the Hunterdon Area Energy Cooperative (HAEC), which is led by Califon.
An energy aggregation program allows a governmental entity, like our City, to join a cooperative which then negotiates a “bulk purchase” of energy supply on behalf of the residents of the participating municipalities at a lower price than the Basic Generation Service (BGS)---the price you pay to your JCP&L now.
What benefits should we see from joining the HAEC? The primary benefit is that it will reduce our residents’ electric supply costs. Although it’s impossible to predict exactly how much each homeowner might save, based upon the savings already realized by participating residents of the HAEC it is estimated that our residents could save an average of approximately $100 per home, per year. Further, the program is set up so that if for any reason the JCP&L electric supply costs become lower than the contracted price offered by the HAEC, you will be returned to JCP&L, so that you will always be paying the lowest available price. And at the outset, the cooperative requires the energy supplier to ensure that no less than the same amount of electricity purchased comes from renewable energy sources as is currently, going forward, the HAEC has significant opportunity to get pricing on, and move to, models that get even more electricity from renewable sources, using our new collective purchasing power to help reduce our environmental footprint.
How does this look to us? Your savings will be reflected on the bill you receive from JCP&L. The process to realize your savings in electric supply costs will be completed by the new electric supplier. No paperwork for you! The difference will be that your electric energy costs will be less than what JCP&L would charge you for your electric usage. Also, the process of paying bills won’t change. For example, if you pay on a budget billing basis that will remain the same.
How do we join the program? You don’t have to do anything! You get to choose whether you want to participate. The way the law was written dealing with energy aggregation, once a municipality decides to participate its residents are all automatically included in the program. However, if you do not want to be part of the program, you simply need to fill out a form indicating your choice. The form will be available in paper format and via the internet before the program begins. Before you are asked to make your choice, you will be advised as to the minimum savings you will get if you participate in the program and you can make a choice.
What are the next steps? There are a number of ordinances and resolutions needed to move forward. The ordinances, which dictate the timing, will be listed for introduction on the August 22nd meeting of the Governing Body, with the public hearing and adoption scheduled for September 19th. If the Governing Body votes to move forward, all homeowners in Lambertville will receive a letter with much more detailed information about the program and next steps.
More information at lambertvillenj.org or by emailing [email protected]