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Borough manager proposes multi-year energy contract to hedge rising rates as data-center demand looms
Summary
Palmyra’s borough manager told councilors she is negotiating with Energy by 5 to lock supply and distribution rates for up to 72 months to shield the borough from rising electricity costs tied to data-center demand; councilors asked about fees and said she should not sign unfavorable terms.
Palmyra’s borough manager reported March 31 that staff is working with a firm called Energy by 5 to negotiate a multi-year contract that would lock the borough’s electric supply and distribution rates for up to 72 months as local electricity markets face upward pressure from incoming data centers.
"Right now, we're seeing the electric rates rise daily," the manager said,…
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