Teaneck Township Council Moves to Re-Bid Energy Aggregation Program

Teaneck Township Council 

Moves to Re-Bid Energy Aggregation Program

 

In November 2021, residents voted to opt in all residential electricity customers to a clean energy credit supplier, unless the resident took action to opt-out of the program.

 

The program, placed on the ballot by a group of petitioners and supported by a lobbying organization (Food & Water Watch) was supposed to aggregate purchasing power to enable clean energy credits to be purchased at a cost equal to or below the PSE&G tariff rate.

 

In plain English: the program would support clean energy while allowing savings for you.

 

Bids were solicited for the program at clean energy credit rates mandated by the referendum.

 

Two bids from qualified electricity companies were received.  

 

The lowest bid would raise the average homeowner’s energy costs by approximately $853 over the course of the 24-month program.

 

While the referendum permits the bids to exceed the PSE&G tariff rate, the Township Council could not, in good conscience force what would essentially be a RATE HIKE for utilities on seniors with fixed incomes, young couples and everyone trying to make ends meet in a very difficult economic landscape.

 

“The council could not in good conscience vote for a program that would result in higher costs for our residents at a time where so many are struggling to make ends meet,” said Mayor Jim Dunleavy.

 

We have worked very hard as a municipality to keep costs stable for residents, providing SEVEN OF THE PAST EIGHT YEARS of budgets with ZERO PERCENT increases to the township portion of your tax bill.

 

Yet, we are cognizant of the desires of those voting in favor of the referendum and will therefore be requesting the energy providers re-bid for the program in 120 days.  If at that time, the market has changed enough for bids to meet the goals of the referendum, the Township will reconsider joining the program under the new terms.

 

As always, we will keep you posted regarding developments and look forward to hearing your feedback.

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