Officials in Hamilton Township, New Jersey, currently have their fingers crossed that their decision to switch energy suppliers within the next two yearswill help save more than $2,500 in the long run.
According to the Evening Sun, the township heard presentations from retail energy providers, during which municipal leaders discussed the potential savings that could come with every scenario. When one stuck out, they signed the two-year agreement, which is still contingent upon review by the township supervisor.
Hamilton uses approximately 7,544 kilowatt-hours of electricity every month, and in the last year, used 90,528 kilowatt hours. With this use, Ted Motz, a representative of the chosen electricity supplier, said the potential savings would be huge. Chairwoman supervisor Stephanie Egger stated that the township will now save $0.0122 per kilowatt-hour, and if the township uses the same 90,525 kilowatt-hours this year, could save a total of $2,661.
Hamilton, and any other municipality, has the option to switch providers thanks to New Jersey’s energy deregulation law. This has led many providers to arrive in the state and offer various pricing options, including fixed, floating and a hybrid of the two.