Source: Assembly Republican Press Release -
Legislation sponsored by Assemblyman Sam Fiocchi that promises lower energy costs in Vineland is moving through the State Legislature.
The bipartisan bill, A-2385 authorizes certain municipalities and a rural electric cooperative that currently provide electric service at retail to establish a municipal shared services energy association. Fiocchi, a member of the Assembly Telecommunications and Utilities Committee, supported the measure as it cleared the panel last week.
“I am a strong proponent of shared services that improve efficiencies and reduce costs, but current rules prevent a handful of utilities, including Vineland City Electric, from capitalizing on this opportunity,” said Fiocchi, R-Cape May, Atlantic and Cumberland. “This bill creates new opportunities for these utilities to join together as a cooperative. With this stronger presence in the competitive marketplace, the result could be significant energy savings for ratepayers.”
In addition to Vineland City Electric, the utilities impacted by the legislation include: Park Ridge Borough in Bergen County; Pemberton Borough in Burlington; Milltown and south River Boroughs in Middlesex; Butler and Madison boroughs in Morris; and Lavallette and Seaside Heights boroughs in Ocean. The Sussex Rural Electric Cooperative, providing power to Wantage, Frankford, Lafayette, Hardyston, Highland Lakes and Vernon in Sussex County, is also named in the bill.
“Many struggling families find New Jersey unaffordable, and we can lower the cost of running their lights with this basic change in the way we allow these utilities to conduct business. Sharing services is cost-effective, and with additional buying power, that means electric customers in Vineland will be able to hold on to more of their hard-earned money,” said Fiocchi.