Energy New England (ENE), a leader in providing energy, environmental and economic solutions, worked on behalf of 16 municipal utilities throughout Massachusetts, Rhode Island, and Vermont to procure clean, carbon-free hydroelectric energy for the region.
This March, more than 19 megawatts of hydro electric energy from the Androscoggin River in Lisbon Falls, Maine will begin flowing to ENE’s wholesale utility customers.
Utility ratepayers will benefit from both clean energy supply and low rates. Furthermore, the growing number of residential, commercial, government and institutional clients who are concerned about sustainability will find this environmentally-friendly solution of great value.
This “green” power will supply between 2.5-3% of the participating municipal utilities’ overall energy needs. The contract is for a three year term.
The Miller Hydroelectric generation plant will produce 90-100 million kilowatt hours annually, enough electricity to supply thousands of homes. This contract will help ENE’s municipal utility customers maintain, or in some cases slightly reduce, their power supply costs.
“Our municipal utility customers want to add green power resources to their portfolios while furthering their efforts to provide reasonably priced power to their customers” said Tim Hebert, Sr VP Energy Operations. “This transaction allows our customers to do just that. They’ve added clean power to their portfolios at a market-based price, which helps them manage their costs and helps insulate them against potential cost increases due to looming Federal carbon legislation.”
Adding green power contracts usually requires balancing environmental benefits with the extra cost of doing so. Newer green power projects typically cost more than buying power from traditional resources. In this case, ENE worked with an established green power provider with a strong performance track record to provide this clean energy sooner than later at a relatively low cost.
Energy New England, based in Foxborough, Massachusetts, is a provider of wholesale and retail energy supply, energy management services and sustainability solutions. ENE conducts more than $200M in structured transactions annually and is a leading provider of demand side management in the region.
ENE helps municipal utilities, independent power producers, and end users manage their energy costs, use less energy, and participate in the burgeoning demand response, smart grid and sustainability marketplaces.
The municipal utilities participating in this hydro supply contract include:
Belmont Municipal Light Department; Braintree Electric Light Department; Concord Municipal Light Plant; Danvers Electric Division; Georgetown Municipal Light Department; Groveland Electric Light Department; Hingham Municipal Light Plant; Merrimac Municipal Light Department; Middleton Electric Light Department; North Attleborough Electric Department; Norwood Municipal Light Department; Pascoag Utility District (RI); Rowley Municipal Light Plant; Taunton Municipal Lighting Plant; Stowe Electric Department (VT); and Wellesley Municipal Light Plant
For more information, contact Tim Hebert, Senior Vice President, Energy New England, 508-698-1219; [email protected].