[HISTORY: Adopted by the Mayor and Council of the Borough of Red Bank 10-14-2020 by Ord. No. 2020-19. Amendments noted where applicable.]
The Borough of Red Bank ("the Borough") hereby establishes a community energy aggregation program for residential and nonresidential customers in accordance with the provisions of the Government Energy Aggregation Act, N.J.S.A. 48:3-93.1 et seq., and the rules promulgated thereunder, N.J.A.C. 14:4-6.1 et seq.
The Borough shall be the lead agency and any agreements entered into in connection with the community energy aggregation program by authorized personnel shall be subject to review by the Borough.
A. 
The Mayor of the Borough ("Mayor") shall be and is authorized to execute and the Clerk to attest to the execution of an electric distribution aggregation agreement, in a form acceptable to the Borough, with JCP&L.
B. 
Pursuant to the terms and conditions of the Government Energy Aggregation Act and the rules promulgated thereunder, and specifically N.J.A.C. 14:4-6.2, the Borough shall oversee the community energy aggregation program ("CEA") as lead agency and, in that capacity, and consistent with applicable rules, shall solicit requests for proposals for electric generation service and energy aggregation services on behalf of the Borough's residents and businesses. The Mayor may execute and enter into a contract for such services, subject to § 298-3C and D, and provided that the lowest qualified bid price for electricity generation service is consistent with N.J.A.C. 14:4-6.9 and notice is provided to residential customers should the price exceed the benchmark price, as required by N.J.A.C. § 14:4-6.9(g). Pursuant to the regulations of the Government Energy Aggregation Act, a public notice of the CEA will be issued whereby nonresidential energy consumers may opt into the CEA and residential customers may opt out.
C. 
The CEA must be fully implemented within one year of the passage of this chapter. Requests for proposals for electricity generating services must state that no contract will be awarded unless it has an option for customers to opt up to 100% renewable electricity and a minimum percentage of renewable electricity for all program participants of:
(1) 
Thirty percent from program inception through December 31, 2021;
(2) 
Forty percent from January 1, 2022, through December 31, 2023;
(3) 
Fifty percent from January 1, 2024, through December 31, 2025;
(4) 
Sixty-five percent from January 1, 2026, through December 31, 2027;
(5) 
Eighty percent from January 1, 2028, through December 31, 2029; and
(6) 
One hundred percent after December 31, 2029.
D. 
The renewable electricity attributes for the CEA will be N.J. PJM renewable energy credits from the current calendar year, unless the municipality opts to enter into a power purchase agreement with a solar or wind energy provider to provide both energy and attributes together to meet some or all of the requirements of Subsections C and D of this section. The Mayor may not execute and enter into a contract for electricity generating services unless it meets the renewable percentages specified in Subsection C.
E. 
The Mayor may also execute a master performance agreement that obligates the participants in the CEA to purchase electricity at terms and conditions stated therein with a third-party supplier who has been awarded the contract by the Borough on behalf of participating members of the CEA, and provided that such contract shall be at prices reasonably forecast and estimated by the Borough to provide for basic generation service by JCP&L.