At the March 26 regular council meeting, City Council approved an average 10.8% rate reduction for all of their 4,929 electric customers. Mayor Scott Neisler stated, “This is another historic event for our customers. In today’s economy, it is very rare to hear of any type of utility rate reductions. What a great way to improve our citizens’ quality of life.” Read more here.
Eastern Connecticut Chamber of Commerce President and CEO Tony Sheridan is correct when he writes ("Killingly Energy Center a boon to clean energy, economic development") that the proposed Killingly Energy Center will have many benefits for the town of Killingly and Connecticut.
We've all read the headlines and seen the reports — facing massive state budget deficits that stretch for years to come, Connecticut is struggling to retain meaningful jobs, young people and businesses, and struggling to attract new investment.
Duke Energy Corp.’s grip on North Carolina’s power sector has tightened over the last decade through its acquisition of Piedmont Natural Gas Co. and limited competition for wholesale power. But Florida-based NTE Energy sees an opportunity to grab a sliver of the market — and potentially more — by investing billions to offer lower-priced electricity to Tar Heel cities, electric co-ops and universities that manage their own distribution networks.
In addition to Stantonsburg, officials in Black Creek, Lucama and Sharpsburg recently approved terminating longstanding contracts with Duke in favor of power purchase agreements with NTE Energy. According to a news release, after evaluating proposals from several power suppliers, the four towns selected NTE and locked in “highly competitive pricing for the next two decades” that enables town officials to pass the savings to residents.
Sharpsburg and three other North Carolina towns will see a drop in their power bills due to agreements with NTE Energy. At a time when electricity rates are rising across the state, residents of Sharpsburg, Black Creek, Lucama and Stantonsburg learned their electric rates have been cut by 9 percent.
Florida-based NTE is spending $2 billion to build plants and battle Duke Energy for wholesale utility customers — a sign of increased competition in what could become a wave of new players across the Carolinas.