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Energy Aggregation Renewal through Hunterdon Area Energy Cooperative
The Hunterdon Area Energy Cooperative solicited pricing for a November 2020 start (to coincide with the end date of the current program which is October 2020), and for February 1, 2021. The low bid was $0.0909/kWh rate for standard renewable energy content with a November start date for 13 months. The rates for the 24 month term and February start date were both higher. The Coop also asked suppliers to submit alternate start dates and terms, and IDT included a $0.0867/kWh rate for standard renewable energy content and $0.0878 for 100% renewable energy content with a March 2021 start for a 9-month term in their bid.
IDT which is also the current provider, agreed to extend the current program for an additional two months; pricing beyond that wasn't favorable in the current market. Thus the two-month gap between the extension of the current program and the start of the new program.
The coop will have the options of 1) asking IDT if they can extend the program beyond the original 9-month term, and 2) going back out to auction. Based on participation in the renewable energy content option, the coop can make adjustments to the percentage of renewable energy being offered, to change the source of the renewable energy for the next auction.
Notices about the program extension will be sent to residents in August 2020, informing them that the program rate of $0.0863/kWh will be in effect through their December 2020 meter reads and of their subsequent return to the JCP&L Basic Generation Service in January 2021. The notice will also mention the new program that will be starting in March 2021 and to watch for the information packet and outreach presentations in January 2021.
The Hunterdon Area Energy Cooperative now includes 16 municipalities (see list below) spanning four counties and located in both JCP&L and PSE&G territories. This tremendous growth speaks to the success of the current program and the cooperative's foresight in offering the additional renewable energy option to residents in the next round of the program. Savings for Washington Township's participating residents in the first year of the program exceeded $104,000, and there were 2,703 Washington Township residents participating in the program as of May 2020 (there were 4,410 eligible residents in the township at the start of the program).
HAEC's Participating Municipalities:
• Borough of Califon, Lead Agency (Hunterdon County) in March 2019 - JCP&L
• Bethlehem Township (Hunterdon County) in March 2019 - JCP&L
• Town of Clinton (Hunterdon County) in March 2019 - JCP&L
• Washington Township (Morris County) in April 2019 - JCP&L
• Chester Township (Morris County) in March 2020 - JCP&L
• Mendham Township (Morris County) in March 2020 - JCP&L
• Delaware Township (Hunterdon County) in April 2020 - JCP&L
• Kingwood Township (Hunterdon County) in April 2020 - JCP&L
• Borough of Frenchtown (Hunterdon County) in April 2020 - JCP&L
• City of Lambertville (Hunterdon County) in April 2020 - JCP&L
• Borough of High Bridge (Hunterdon County) in March 2021 - JCP&L
• Borough of Stockton (Hunterdon County) in March 2021 - JCP&L
• Alexandria Township (Hunterdon County) in March 2021 - JCP&L
• Hopewell Township (Mercer County) going out to auction on August 19, 2020 - PSE&G and JCP&L
• Borough of Peapack & Gladstone (Somerset County) going out to auction on August 19, 2020 - JCP&L
• Pennington Borough (Mercer County) going out to auction on August 19, 2020 - PSE&G
The Washington Township Committee will be discussing this topic at the Work Session Meeting on July 15, and formal action to continue participation may be taken at the Township Committee Regular Meeting on July 20. Meeting information can be found on the Township Calendar