At 7.5%, the inflation rate in the United States is at its highest level since 1982, and energy costs are one of the main drivers of this increase. According to the U.S. Bureau of Labor Statistics, energy prices rose 29% in 2021. Natural gas futures prices are up 61% from a year ago, indicating that rising electricity prices are unlikely to be a problem in the short term. continue to have a significant impact on consumers’ electricity bills in the future.
“With the high cost of daily living, it is always difficult to plan family budgets. Given our participation in the CCA, it is a burden for me not only that my electricity prices have not skyrocketed , and knowing that they are going to be stable for the next few years, provides great peace of mind.In addition to the cost savings, I am happy to know that my energy needs are being met with local renewable sources without any effort or inconvenience extra,” said the program participant Nicholas Dedring of tag.
The savings from participating in the HVCP comes as a relief to customers served by Central Hudson who have struggled with billing issues since the utility began using new software in fall 2021.
CCA allows municipalities to select their own energy suppliers and energy sources, and helps move new York towards its goal of 70% renewable energy by 2030. The Cities of tag and PoughkeepsieCities of clinton, marble city, New PaltzPhilipsville, Red hookand Saugertiesand the Villages of cold spring and New Paltz all participate in the HVCP clean energy program. Program administrator Joule Assets, through Joule Community Power, managed a bidding process to guarantee residents the fixed rate for 36 months. HCVP participants can withdraw without penalty if they no longer wish to participate. Eligible residents can enroll at any time free of charge by visiting the program website.
“We are thrilled that our residents can reap both financial and environmental benefits during these challenging times,” said City of New Paltz Supervisor Neil Bettez. “Residents experiencing financial hardship should consider joining Hudson Valley Community Power. It will save them money and help our planet by taking real action to address our growing climate crisis.”
Chairman and Chief Executive Officer of Joule Jessica Stromback said: “We’re proud to provide much-needed savings to tens of thousands of households during unpredictable financial times. Residents who don’t pay a fixed rate are suddenly receiving sky-high bills, and record prices are putting undue stress on families already struggling financially Unpredictable electricity prices make it difficult for families to budget. Hudson Valley Community can rest assured that their electricity rates will remain the same from month to month June 2024.
About Hudson Valley Community Power
Hudson Valley Community Power is a community choice aggregation program – comprising communities in New York’s Hudson Valley – that allows participants to save money on electricity by pooling demand for electricity. electricity to leverage the collective purchasing power of residents and small businesses to secure more favorable terms on their community solar and electricity supply contracts, protect consumers and support sources of renewable energy production. Since July 2019, the default electricity supply in participating communities is 100% renewable. the City of Saugerties launched an electricity supply offer September 2021. Joule Community Power is the program administrator. To learn more, visit hudsonvalleycommunitypower.com.
About Joule Community Power
Joule Community Power (Joule) is committed to building a clean energy future for all. Through our comprehensive portfolio of community choice aggregation and sustainability services, Joule ensures the wide adoption and deployment of new, clean energy resources, enabling municipalities to achieve their sustainability goals. Joule’s programs empower municipalities to make energy decisions for their own communities, enabling local decision-making and empowerment. In doing so, Joule moves New York State energy dependence from a utility-controlled fossil fuel model to a clean, renewable, municipal-controlled energy model for thousands of households at a time. As the first mover, in 2021 Joule launched the first and only opt-out community solar program in the United States, bringing the benefits of solar power, including guaranteed electricity bill savings, to entire communities. From December 31, 2021, Joule represented 800,000 New Yorkers in 44 municipalities. Additionally, Joule empowers consumers and institutions to take action and benefit from New York State continued investment in sustainability initiatives. To learn more, visit joulecommunitypower.com.
SOURCE Joule Community Power