City prepares for reverse energy auction to secure competitive electric supply rates

The Northern Burlington County Regional School District is taking proactive steps to manage its energy costs through a planned reverse energy auction for electric power supply. Scheduled for tomorrow, this auction allows suppliers to bid competitively, potentially lowering the district's electricity rates. The resolution authorizing this auction was discussed at the recent Board of Education meeting, highlighting the district's commitment to finding cost-effective energy solutions for the community.

The reverse auction process is designed to encourage suppliers to offer lower kilowatt rates, with the district poised to select a new electric supplier based on the auction results. Board members expressed confidence in the current electrical supply market, anticipating that the auction will yield better rates than those currently in place. Importantly, if the auction does not produce favorable results, the district is not obligated to accept the new rates.

In addition to the electric supply discussion, the board also touched on the gas supply contract, which is set to expire next year. With current market conditions showing promise, the district plans to explore options for securing better rates for gas as well. This proactive approach reflects the district's ongoing efforts to manage operational costs effectively, ultimately benefiting the local community by potentially lowering energy expenses.

As the district moves forward with these initiatives, residents can expect updates on the outcomes of the energy auction at the next Board of Education meeting, reinforcing the district's transparency and commitment to fiscal responsibility.