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3/5/2019 - Mayor Yaede Proposes 2nd Stage of Hamilton’s Energy Aggregation Program

Mayor Yaede Proposes 2nd Stage of Hamilton’s Energy Aggregation Program

Community-Wide Savings Could Total $3 Million; Average Resident Would Saving $90 Over 15-Month Period

 

As a community, Hamiltonians could save upwards of $3 million with full participation by eligible residents under a 2nd stage of Hamilton’s Energy Aggregation Program, which Mayor Kelly Yaede has proposed to the Township Council.

Under the new installment of the program, Constellation NewEnergy – which submitted the lowest electric supply price – would provide residents electricity at a price about 12% lower than the local utility’s (PSE&G) electricity supply price (known as the price-to-compare), and more than 6 percent below the projected PSE&G price over the 15-month term of the contract.

If approved, over the 15-month contract the average resident would save an estimated $90 (although each customer’s usage would determine their respective savings). This new stage of the program would start this June and continue to September of 2020.  

Previously, Hamilton’s 1st stage of its Energy Aggregation Program achieved a community-wide savings for participating residents of over $1 million (compared to what participating residents would have paid for electricity supplied by PSE&G over the same time period).

“This program offers many of our residents an opportunity to save on their electricity cost, which is why I have proposed a second stage of this program,” explains Mayor Kelly Yaede. 

Eligible residents would have the opportunity to opt-out if they do not wish to participate (similar to the 1st stage of the program).

If approved, further information will be available at HamiltonNJ.com/Energy and subsequent notification mailings would be send to eligible residents prior to the start of the program’s new stage.