Joule Asks NY State to Block ESCO from Dropping 25,000 Municipal Energy Program Customers

ENERGY SUPPLIER FILES INTENT TO TERMINATE ENERGY SUPPLY CONTRACT THAT SAVED UTILITY CUSTOMERS $5.7 MILLION IN JANUARY, FEBRUARY AND MARCH, ALONE

HUDSON VALLEY, N.Y., May 5, 2022 /PRNewswire/ -- In an April 26^th filing, Joule Assets (Joule) requested that the New York Public Service Commission (PSC) deny Columbia Utilities' request to return approximately 25,000 energy supply customers to Central Hudson supply service, more than two years before Columbia's supply contract was set to expire. The request covers ten Hudson Valley municipalities: the cities of Beacon and Poughkeepsie; towns of Clinton, Marbletown, New Paltz, Philipstown, Red Hook, and Saugerties; and the Villages of Cold Spring and New Paltz. The municipalities selected Columbia Utilities, after a competitive bidding process, as the default energy supplier of their community choice aggregation (CCA) program administrated by Joule. With an initial supply date of July 1, 2021, Columbia Utilities is contracted to supply renewable energy at fixed rates to residents and small businesses of the municipalities on an opt-out basis through June 30, 2024. The CCA program has saved participating customers approximately $5.7 million in only the first quarter of 2022.

CCA programs enable participating communities to leverage the collective buying power of residents and small businesses at large enough scale to negotiate for better terms on their energy contracts. The empowered municipalities negotiated for renewable electricity at fixed rates. CCA—which promotes renewable energy generation, cuts costs for consumers, and provides increased consumer protection—is promoted by the New York State Energy and Research Development Authority (NYSERDA) as a priority climate action. 

As stated in Joule's PSC filing, Columbia Utilities, despite a binding agreement to serve customers at a fixed price, seeks to break its agreement and return almost 25,000 customers to Central Hudson. If transferred, the customers will be defaulted to Central Hudson standard electricity supply at variable market rates versus 100% renewable energy at negotiated fixed rates as promised by Columbia Utilities.

Joule CEO Jessica Stromback states, "CCA was established by the Public Service Commission precisely to provide customers with protective contracts, fixed rates, and access to renewable electricity supply. We, therefore, intend to work closely with the Public Service Commission, the Department of Public Service, Central Hudson, Columbia Utilities, and the affected municipalities to resolve this important issue and protect customers' rights going forward."

About Joule Assets
Joule Assets actively empowers communities, businesses, investors, and individuals to capitalize on Sustainable Energy Assets in the U.S. and Europe by expanding small customer market access, encouraging community-scale clean energy programs and facilitating energy efficiency markets. Based on years of regulatory expertise, market intelligence, and performance-based financing knowledge, Joule negotiates cheaper, cleaner energy supply on behalf of communities in NY State. In Europe, Joule supports the access to financing for efficiency and renewables projects, catalyzing the marketplace for project developers and investors. Each business unit–Joule Community Power and Joule Europe–supports Joule's overarching mission to shift the energy paradigm towards clean and efficient energy for all.

Contacts
Sherry Rothenberg
Vice President, Marketing
[email protected]

Glenn Weinberg
Director
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SOURCE Joule Assets