We are pleased to inform you that the municipality has contracted with Constellation NewEnergy (CNE) on behalf of Princeton residents to procure electricity that is 1) at a lower price offered by PSE&G, 2) with higher renewable content, and 3) with no change to the level of service. This contract was awarded through a public and competitive municipal bid process to achieve low-cost renewable energy for Princeton residents.
You should have received a mailer that looks like this:
The request for bidders was initiated in November of 2019 and the award to the best qualified bidder occurred just before the outbreak of COVID-19. Implementation of this program will help enhance air quality in the region, generating health benefits for all, and will not impede the municipality from ensuring the health and safety of its residents in any way. Additionally, there is no cost to the municipality to offer and maintain the program and it benefits residents in the form of slightly lower utility expenses.
This agreement provides residents with an electric supply that has a 50% renewable energy content at a price lower than PSE&G’s electricity supply rate starting in June. Thus, all residents will receive an electricity supply with more than double the renewable energy content of the supply provided by PSE&G (50% renewable vs 24%), at a slightly lower cost ($.13053/kwh vs.$0.13508/kWh*), and with no change to the level of service. The program begins with your June 2020 meter read date and prices are guaranteed for 18-months.
Residents also have the ability to "opt-up" to a 100% renewable energy product. Residents who voluntarily chose this maximum renewable energy content will pay a modest price premium($0.13653/kWh).
If you wish to participate in the program and receive the 50% renewable energy product, no action is required. You will receive a notification from PSE&G in May that your account is being enrolled with the new supplier, Constellation NewEnergy, effective with your June 2020 meter read.
If you wish to select the voluntary 100%renewable energy product option at the slightly higher price, please call Constellation NewEnergy toll-free at 1-833-961-0753 and make the request.
If you do not wish to participate for any reason, you may opt-out by doing one of the following:
Completing the Opt-Out Reply Card received in the Program announcement letter mailed the week of April 6th
Calling Constellation NewEnergy,Inc. at 1-833-961-0753
Residents have 30 days to review the Opt-Out Notice and decide whether they wish to opt-out of the program. After that 30-day opt-out period concludes on May 6, 2020, those residents who do not opt-out of the program will be enrolled by the winning supplier(Constellation).
Even after an electric account is enrolled, residents remain free to opt-out of the program at any time during the contract. Participation in the PCRE Program is 100% optional. There are no fees or penalties if you decide to opt-out.
Please note that the renewable energy program is only for the electricity supply portion of your service. The delivery portion will continue to be provided by PSE&G at regulated rates. They will continue to provide all emergency, safety, and customer services such as meter readings, billing, and service restoration. If you are on a PSE&G budget billing plan, you will continue to receive that service. Please take the time to read the documents listed below and familiarize yourself with this program.