Colts Neck Takes Steps to Lower Energy Rates for Residents

Colts Neck Township took steps last week to lower energy rates for residents, adding competition for the usual default energy company JCP&L.

In an Aug. 28 meeting, the Township Committee procured the services of Gabel Associates, a company which will allegedly save residents between 5 and 15 percent on energy bills "in today's energy markets," according to a news release.

"As elected officials it is our duty to do everything in our power to operate efficiently - and save our residents every dollar we can", said Mayor Michael Fitzgerald in a news release. "This was a no-brainer since there is no cost to our residents and virtually no risk or down side. We would be foolish to fail to take advantage of these savings."

The Township Committee resolution means residents will still receive a bill from JCP&L, and the company will still maintain the power lines, but residents will see a discounted rate as long as the discounted rate is less than the default rate from JCP&L. Residents can also opt out of the program at any time with no penalty.

Gabel Associates acts as the consultant through the bid and regulatory process for lower energy rates with third parties, according to the company's representative Assemblyman Declan O'Scanlon. 

According to a recent article on Parsippany Patch, “(What we’d do is) buy a bulk of power at a good price,” said Gabel's Executive Vice President, Robert Chilton. “A Request for Proposal (RFP) would be put out, and the town would analyze. Then, the most beneficial contract would be awarded, but only if the bid price is below the JCP&L (tariff) price.”

The deal would not impact those residents who already have a third-party supplier.

"The choice of Gabel was also pretty cut and dry.  They were one of the least expensive consultants and they were by far the most experienced.  These folks know their stuff and their clients can't say enough positive things about them."

Gabel Associates also works with municipalities such as Plumstead, where a 14 percent savings was realized, and Toms River, where an 11 percent savings was realized, according to a news release.