Jackson township partners with emex to secure competitive electricity rates

Jackson Township Partners with EMEX to Secure Competitive Electricity Rates

by
August 22, 2024
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JACKSON TOWNSHIP, August 16, 2024 – Jackson Township has successfully renewed its Main Load Electricity third-party supply through a partnership with EMEX, a division of Mantis Innovation, utilizing EMEX’s proprietary Reverse Auction platform.

Five third-party energy suppliers participated in a live auction on the EMEX platform, bidding multiple times in a competitive and transparent environment. Initially set for five minutes, the auction was extended to eight minutes using EMEX’s Overtime Mode, which resets the clock to two minutes whenever a low bid is submitted within the final two minutes. Constellation Energy emerged victorious with a rate of $0.0815 per kWh for a Fixed with Capacity & Transmission Pass-Through product structure, securing a 24-month contract.

“My administration regularly seeks value for Jackson taxpayers in all areas such as this reverse energy auction. We continue to work to keep taxes stable while delivering the services our residents expect and deserve,” said Mayor Michael Reina on the partnership.

The new Main Load Electricity contract will commence in December, with anticipated annual savings exceeding $20,000, depending on new Jersey Central Power & Light (JCP&L) tariffs set to begin in June 2025.

In addition to the Main Load Electricity renewal auction, EMEX conducted an auction for Jackson Township’s Street Lighting Accounts. This auction also lasted eight minutes, with Constellation Energy outbidding six other suppliers to win with a rate of $0.07550 per kWh for a 60-month period. This contract will begin in September, with expected annual savings exceeding $10,000.

“I’m thrilled to see our township take the lead in embracing innovative energy solutions,” Jackson Township Council President Jennifer Kuhn said. “By adopting Energy Emex’s competitive pricing program, we’re not only reducing our energy expenses but also contributing to a cleaner environment and a stronger local economy.”

Jackson Township is committed to leveraging innovative solutions to achieve cost savings and enhance service delivery for its residents. The successful partnership with EMEX and Mantis underscores the township’s dedication to fiscal responsibility and sustainable energy practices.

Phil Stilton

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital news organization covering New Jersey, national politics, public policy, public safety, and community affairs. With years of experience reporting on local government, elections, law enforcement, and issues impacting residents throughout New Jersey, Stilton has built a reputation for delivering timely news, in-depth reporting, and accountability journalism.

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