Atlantic-Cape Energy Co-Op to
save $1.5M.
By Marsha Gilbert
Staff Writer, (609) 272-7203
The Press of Atlantic City
The Atlantic-Cape Energy Co-Op is on track for saving $1.5 million in energy bills.
Co-op members expect to save an average of 17 percent on energy bills, Atlantic County Executive Dennis Levinson said.
Atlantic and Cape May counties formed a regional Energy Cooperative Pricing System in August to save money on bills by buying energy as a group.
An energy-deregulation bill passed by the state Legislature last year allows New Jersey counties, municipalities and school boards to receive a mandatory reduction of 5 percent on electric bills and select a supplier.
The energy consulting firm American PowerNet performed a detailed account analysis to find the greatest potential for energy savings during the 16-month contract, which is from January of this year to April 2001.
"We are very satisfied with the results of our energy cooperative with Cape May and what we have been able to achieve," Levinson said. "We are among the very first to take advantage of energy deregulation and we are very pleased with the savings our members have been getting since January."
The co-op, which now has 45 members, saved more than $65,000 in energy bills in January.
Another co-op, The South Jersey Cooperative – with members in Salem, Camden, Cumberland and Gloucester counties – estimates it will save $2.5 million or enjoy a 12.48 percent drop in cost for the year.
Homeowners can’t be members of either cooperative, but lower bills for local governments benefit residents with lower tax bills. Levinson released a comparative chart of the cooperative’s energy costs and savings to date.
"I intend to continue to monitor this program to ensure that its benefits to Atlantic County taxpayers are fully realized," he said.
Atlantic-Cape Energy Co-Op members |
||||
with the highest percentage of savings |
||||
Member |
Utility |
Supplier |
Savings |
% |
| Corbin City Grand Avenue | $416.28 | $284.44 | $131.84 | 32 |
| Leased Property | $168,750.77 | $122,304.84 | $46,445.93 | 28 |
| Cape May City | $190,316.31 | $150,585.72 | $39,730.59 | 21 |
| Upper Township | $43,890.38 | $35,211.95 | $8,678.43 | 20 |
| Atlantic County | $1,100,393.46 | $887,503.41 | $212,890.05 | 19 |
| AC Utility Authority | $1,701,688.04 | $1,386,439.84 | $315,248.20 | 19 |
| Stone Harbor | $92,911.48 | $74,894.23 | $18,017.25 | 19 |
| Galloway Township | $103,477.77 | $84,933.29 | $18,544.48 | 18 |
| Cape May Mosquito Comm | $12,172.47 | $10,005.56 | $2,166.91 | 18 |
| Cape May Mun. Util. Auth | $1,214,336.69 | $992,041.38 | $222,295.31 | 18 |