Dear Mendham Borough Resident,
The Borough of Mendham in conjunction with the Morris Area Energy Cooperative (“MAEC”) passed an ordinance and resolution to establish a Community Energy Aggregation Program. The program is designed to save residents money on the supply portion of their electric bill.
Since then the Borough of Mendham has been a participating member of the Cooperative and residents participating in the program have saved an average of 10% on their electric bill. There are currently 10 other municipalities in MAEC and collectively, residents have saved over $1.2 million dollars through energy savings with the program!
The current contract is expiring in October 2018 and as part of the process, the Consultant for the program sought competitive bids from licensed suppliers. In order to award a new contract, the rate must be lower than both JCP&L price to compare at the time of the Auction.
We are excited to announce that the program will be continuing with a new rate of $0.0886 for a term of 19 months, effective March 2019. In the interim (November 2018 - February 2019), IDT Energy, Inc. will automatically return participating residents to Basic Generation Service through JCP&L at the end of the current contract term.
There is nothing you need to do. You will receive notification from JCP&L as to the date you will be returned to Basic Generation Service (“BGS”) and begin receiving the default rate for that service. In January, you will receive a more extensive informational mailing with complete details about the new program, FAQ’s and information on how to opt-out should you wish to not receive the rate reductions.
Thank you for being a part of this successful program and we look forward to continuing to bring you future savings through our Community Energy Aggregation Program.
For updated program information, please visit www.njaggregation.us/maec.
Things you should know:
- This program has been structured to provide residential customers with some savings at no risk
- Current program is expiring in October 2018
- New rate of $0.0886 will begin in March 2019
- Until then, residents will be returned to JCP&L to receive the best rate available at this time
- There is nothing you need to do
- Look for new program information in the mail in coming months