Three South Jersey Towns Share Services to Save Residents Almost $3 Million in Energy Costs
GLOUCESTER TOWNSHIP, NJ – Along with Winslow Township and the Borough of Somerdale, Gloucester Township is pleased to announce the launch of the largest government energy aggregation program in the State of New Jersey. The aggregation program combines and leverages the energy purchasing power of nearly 36,000 households to lower monthly costs by having Third Party Suppliers competitively bid to supply electricity to the three communities.
Tweet This: @GloTwp @WinslowTownship and #BoroughofSomerdale #GEA programs save #southjersey communities almost $3M in #energy costs.
“It’s very exciting to be able to reach across borders and work together for the good of our residents,” said Gloucester Township Mayor Mayer. “We’ve used the collective buying power of our households to negotiate a 7.5% – 9% reduction in energy costs each month for our communities,” Mayer added.
Working with Good Energy, L.P., the industry-leading consultant in Government Energy Aggregation (GEA), the three communities expect a combined annual savings of almost $3 million dollars.
“In early 2014, we recognized the value in aggregated energy purchasing for our residents,” notes Mayor Gary Passanante, Borough of Somerdale. “This deal allows over 2,000 of our households to leverage energy purchasing power to lower their monthly energy costs and empowers our municipality’s electricity buying options,” Passanante continued.
GEA is a program that empowers local governments in New Jersey to create large bulk-purchasing groups composed of residential electricity accounts in order to acquire cheaper supply rates. The purpose of the law is to ensure that the benefits of energy deregulation are passed onto residential customers by providing the ability to “aggregate” their accounts within their municipal boundaries in order to obtain bids from licensed Third Party Suppliers for cheaper energy supply rates. By aggregating, or grouping, a large number of residential accounts together, economies of scale are created, enabling participating municipalities to achieve greater savings for account holders than could normally have been achieved by the individual customer. The key benefit of government energy aggregation is the ability for residential account holders to save money on their electric bills while experiencing no interference in the level of service provided by the utility that distributes the electricity supply.
Read the NJ GEA (Government Energy Aggregation) FAQs here
Watch the announcement video:
