The township’s consultant, Aspen Energy, who manages our Aggregation Program, has been monitoring the energy market to “strike” a favorable renewal electric rate for Osnaburg Township residents. This is completed through a type of “bidding” process.
Due to a number of unique circumstances that have come together at once, the current Supply Rates available (the rates that Aggregator’ s purchase at) are Higher than the current AEP direct rates available to our residents.
- Our consultant expects this to change in the coming months, but not soon enough to implement in time for May 2022, when our current Aggregation Program
- The circumstances that led to this situation begin over a year ago, with the severe cold snap that hit Texas, in addition, current world events along with increasing energy generation and transmission costs have only exacerbated the
While not an ideal situation, our consultant has informed us that it will be best for the residents on our aggregation program, to go back to AEP directly for the time being, until a more favorable rate can be “struck” for our aggregation program. At that time, eligible residents will be brought back into the program… with an opportunity to Opt-Out, if they so choose.
At the end of the current program in May, the township residents that are participating will automatically go back to AEP, when our program expires… they will need to take no action for this to happen.
As a note, our consultant has informed us that Osnaburg Township is not the only government aggregation program experiencing this issue. Most other electric aggregation programs that are also expiring around this time frame are in a similar position
The Board of Trustees knows and understands the value this program provides for our residents and we look forward to changes in the market, that will allow our consultant to “strike” a rate that will once again benefit Osnaburg Township residents and allow them to save money on their household electric service.
Osnaburg Twp Fiscal Officer