Monroe Residents Currently Saving 12% on Electric Bills This Winter Through Township Energy Aggregation Program
Mayor Dalina says Monroe customers have saved approximately $15 million since program inception
MONROE TOWNSHIP, N.J. – February 12, 2021 – In Fall 2019 the Monroe Township Council locked in the lowest fixed electric rates to date for the Monroe Township Community Energy Aggregation (MTCEA) program by approving a contract with Constellation New Energy (CNE) for Round Four of the MTCEA. The contract with CNE began in December 2019 and runs for a 24-month term that ends in December 2021.
“Monroe Township is a pioneer in New Jersey when it comes to municipal energy aggregation and leveraging bulk purchasing to guarantee lower energy rates for our residents,” said Mayor Stephen Dalina. “The MTCEA program saved residents approximately $13 million in the first six years of the program under Rounds 1 through 3 and participating residents are seeing even more savings now. Our residents can expect to see a reduction of more than $250 over the life of the MTCEA Round Four contract for a typical household – more for those using large quantities of electricity or living in all-electric homes.”
As the lowest bidder, CNE proposed a set price of $.08395/kwh for the duration of a two-year contract. This rate, which took effect in December 2019, represents an approximate 12 percent savings off the prevailing JCP&L tariff price during winter months when consumption, particularly for all-electric households, is at its height.
The Township’s energy agent, Gabel Associates, assisted the Township in the procurement of the contract with CNE to provide Monroe Township residents with electric generation services through the MTCEA program. The program will once again will go out to public bid again later this year for Round Five of the MTCEA when it will be reauthorized for 2022 and 2023.
Established in 2013, the MTCEA program is conducted under State law and in accordance with the State Board of Public Utilities’ regulations. Current participation is approximately 15,000 households with aggregate Round Four savings so far through January 2021 estimated at about $2 million. With the harsh and cold winter we are experiencing so far this year, and electricity usage in all-electric up homes up significantly as compared to last winter, individual residents living in all-electric homes are currently seeing savings of as much as $30-40 per month, or in some cases even more, during these peak winter months. Residents seeking additional information should contact program coordinator Harold Klein at 732-521-4400, ext. 135.