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Mount Vernon hears energy-market briefing as aggregation contract nears expiration
Summary
Palmer Energy presented trends in the PJM market and recommended a short-term aggregation strategy after the city's current electric aggregation rate expires at the end of the year; officials warned household bills could rise $30-$40 per month under current market conditions.
A market briefing from Palmer Energy at TuesdayCity Council committee warned that wholesale electricity market shifts and rising generation capacity costs are likely to push residents' bills higher after the city's current aggregation contract expires at the end of the year.
Mark Frey, president of Palmer Energy, told the committee that the cityaggregation contract locked a favorable rate five years ago but that capacity-market prices (PJM RPM) have…
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