Energy Aggregation Could Save Residents Hundreds
Councilman Matthew Moench is encouraging the township to look into energy aggregation.
Councilman Matthew Moench encouraged the township to look into the possibility of getting Bridgewater involved in a Municipal Energy Aggregation program to save residents costs on their energy.
“Instead of having power come from PSE&G or JCP&L, it comes from a third party provider at a discounted rate,” he said.
Basically, PSE&G and JCP&L would continue to deliver the power and the winning bidder at an energy auction would supply the power.
Moench said residents could still opt out of the program and have their power supplied by the regular energy companies.
“We select a broker who is paid for out of money from the energy company,” he said. “It would be a better rate possibly, and residents could opt out if they wanted.”
Moench said moving forward with this would be a long process that would include public hearings with residents, involvement of the utility companies and more work.
“But it’s a way of help the residents in lowering their costs,” he said.
Lambertville is currently exploring this possibility, Moench said, and is looking at the chance to save residents 10 to 15 percent on their power bills.
“It is something I think is worthwhile exploring,” he said. “And there is no cost to the township except for public notices for hearings.”
At this point, Moench said, Plumsted is the only town that has implemented this program.
In addition, Moench said, it might be beneficial for the township to look into the possibility of joining with other smaller towns to offer this option together if it could possibly save residents more money.
“Other towns which have looked at similar programs have shown potential average savings of between $150 and $200 for their residents,” he said. “Energy aggregation companies have claimed that savings can range between 10 and 20 percent off a customer’s bill. This is a significant savings and is something that Bridgewater should explore.”