Montgomery Township officials have decided not to renew the towns’s energy aggregation program, which expires in September.
Officials said all customers in the township will be returned to PSE&G due to current market conditions. The contract began in June of 2019.
The township launched the Montgomery Community Energy Aggregation program in 2013. The first 24-month contract from December of 2013 to December of 2015 was with ConEdison Solutions. The second contract for 18-months, which went from June 2016 to December 2017, was with TriEagle Energy. The third contract was with Constellation New Energy, the same company that Princeton contracted with this spring for its energy aggregation program.
“The township went to the market and bid for a new residential third-party electrical supplier, as has been done before the end of every round. The bids received were not competitive with the current PSE&G rate,” Montgomery officials said in a notice to residents.
When the third-party contract with Constellation New Energy expires, Montgomery residents in the program will automatically be returned to PSE&G for their electrical supply. Residents in the program will receive a notice by mail from PSE&G this month.
Officials said they will check market conditions in 2021 to see if the energy market is more competitive then.