MONROE – A third round of Monroe’s energy aggregation program is ready to begin.
Since 2013, the program has reduced participating residents’ energy bills by locking in lower electric rates through the power of bulk purchasing.
At the May 1 Township Council meeting, the township took the first step by reauthorizing the program, as required by state law, according to information provided by the township.
“Monroe was one of the first municipalities in the state to establish an energy aggregation program,” Mayor Gerald W. Tamburro said. “In its first four years of operation, Monroe residents have saved approximately $9 million.”
Currently, the township has a contract with TriEagle Energy, a company that provides electricity at a fixed price of $.08992 kilowatt hours. That rate represents a 12-percent savings when compared to the tariff price of the local competitor. TriEagle’s contract expires Dec. 1.
“During my time on the council, residents have saved hundreds of dollars through this program,” Councilman Michael Leibowitz said. “In a world where costs seem to exponentially rise, it’s a rare case when you can tell a constituent that their expenses are decreasing.”
In fact, Monroe’s average residential customer saved approximately $600 since the program’s inception.
“Nearly half of Monroe’s population is seniors, many of whom are living on fixed incomes,” Councilwoman Elizabeth Schneider said. “The savings are even greater for individuals living in all-electric houses, a setup that’s incredibly common in some of our active adult communities – Clearbrook, Concordia and Rossmoor.”
The township will seek bids from qualified firms this summer and share more information with residents in early fall, according to the statement.
For more information, contact Harold Klein at 732-521-4400 or email hklein@monroetwp.com.
