Township of Teaneck, NJ Energy Aggregation Program

[By referendum, 11-2-2021]

The Mayor of the Township ("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 Township, with PSE&G.

(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 Township 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 Township' s residents and businesses. The Mayor may execute and enter into a contract for such services, subject to § 13A-3(c) 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 bench mark 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. Request 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)

Fifty percent from program inception through December 31, 2021;

(2)

Sixty percent from January 1, 2022 through December 31, 2023;

(3)

Seventy percent from January 1, 2024 through December 31, 2025;

(4)

Eighty percent from January 1, 2026 through December 31, 2027;

(5)

Ninety 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 NJ 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 § 13A-3(c). The Mayor may not execute and enter into a contract for electricity generating services unless it meets the renewable percentages specified in § 13A-3(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 Township on behalf of participating members of the CEA, and provided that such contract shall be at prices reasonably forecast and estimated by the Township to provide for basic generation service by PSE&G.