By Lea Kahn, Staff Writer
PLAINSBORO — Starting in March 2017, township residents will be able to buy electricity at a reduced rate, thanks to the newly-initiated Plainsboro Community Energy Aggregation program.
A special meeting has been set for Jan. 11 at 6:15 p.m. in the Plainsboro Township Municipal Courtroom at the Municipal Building at 641 Plainsboro Road to explain the program, township officials said. It is only for residential customers — not industrial or commercial users.
The program, which was approved by Plainsboro Township Committee, is a state program that allows a municipality to conduct a “bulk purchase” of the energy supply on behalf of its residents, at prices lower than the average utility price – thus saving money for the residents.
The electricity billing for a typical Public Service Gas & Electric bill is divided into two parts — energy supply and delivery. The goal of the Plainsboro Community Energy Aggregation program is to save money on the energy supply portion by buying it in bulk.
Township Committee recently awarded a contract to TriEagle Energy, which was one of several bidders vying to participate in the program. TriEagle Energy will save consumers about 18 percent on the cost of electricity, or about $300 over the length of the 21-month-long contract for the typical customer.
TriEagle Energy, which is based in Texas, will supply electricity at a cost of about 10 cents per kilowatt hour, as compared to nearly 13 cents per kilowatt hour for electricity purchased through Public Service Gas & Electric Co.
Although a contract for energy supply purchases has been awarded to TriEagle Energy, township officials said the delivery portion will continue to be provided by Public Service Gas & Electric Co. at regulated rates. It will continue to provide all emergency and safety services, meter reading, billing and service restoration.
Residents who participate in the Plainsboro Community Energy Aggregation program will continue to receive one bill from Public Service Gas & Electric Co. They will not be billed separately for the energy supply costs by TriEagle Energy.
All households are automatically enrolled in the Plainsboro Community Energy Aggregation program — except those that have already switched to a third-party supplier for electricity, and those that have installed solar energy systems. Under certain circumstances, they may join later.
A notice will be sent to all eligible households in early January that explains the program. The notice also contains instructions for opting out of the Plainsboro Community Energy Aggregation program, for residents who do not want to enroll in it. The deadline for opting out is Feb. 4.
However, if a resident wants to “opt out” of the program after being initially enrolled in it, it is possible to do so. The Plainsboro Community Energy Aggregation program is 100 percent optional, township officials said. There are no fees or penalties for dropping out of the program.
