New Jersey Borough Reduces Their Electricity Costs by $43,000

Eatontown  Borough officials expect to save approximately $43,000 by switching to a third-party electrical supplier this year.

The Borough Council passed a resolution during a special meeting on April 25 awarding a bid to a competitive supplier, to replace Jersey Central Power and Light (JCP&L) as the electrical supplier for the municipality.

“JCP&Lwill still deliver the power, it will still come through their lines and they will maintain those lines. Liberty Power will be generating the actual power that we will be buying,” George Jackson said in an interview onApril 27.

“Basically the only difference that will be seen on our bill from JCP&L is it will show that the provider is Liberty Power.”

The borough changed the provider after learning it would provide a cost savings to the borough, he said.

“When you go through a third-party supplier they can offer a lower rate, which was the case here,” Jackson said.

The borough will pay an estimated $75,000 a year for electricity, a $43,000 decrease from the $119,000 it was paying JCP&L.

“We were paying 11 cents per kilowatt hourwith JCP&L,” he said. “Nowwe are getting it at 7.29 cents.”