Early results coming in better than expected
By John Tredrea, Special Writer
Lambertville’s recently enacted Community Energy Aggregation program is saving residents more money than was anticipated, officials say.
City Mayor David DelVecchio is heralding the early results of the CEA program, saying that savings are greater than expected after the first three months.
"When we started this program, we knew we were doing the right thing to save our communities money, but these early numbers are really something," the mayor said. "I am very grateful that our community has embraced this program and is benefiting from it."
Under Community Energy Aggregation, the entire electric load of all ratepayers in an area is consolidated into one bulk purchase, with third-party energy providers bidding to supply power to the entire community. Working together, Lambertville and West Amwell secured a rate of 8.91 cents per kilowatt hour, roughly one-half cent lower than the JCP&L market rate.
According to date provided by energy consultants Gabel Associates, the program has already saved ratepayers an average of $20, with cumulative community savings of $62,000.
Given current trends, it is expected that the average household could save $120 over the life of the 15-month contract — 20 percent more than the $100 savings originally anticipated. Total community-wide savings could top $320,000 by next summer.
Only 4 percent of ratepayers opted out of the program — the lowest opt-out rate among the CEA programs currently operating in New Jersey.
Approximately 2,300 homes are benefiting from the lower electric rate.
"It’s still early, and the summer months when our electric usage have yet to be tallied, but the indications are that community aggregation is providing the savings we envisioned," Mayor DelVecchio said.

