As Town Meeting approaches, Merrimack, NH is in the enviable position of reporting real electricity cost savings to its taxpayers and can assure its citizens that savings will continue.
Through a continuing relationship with Freedom Energy Logistics, the Town has moved from a variable electricity rate structure to a forward fixed price program, thus assuring continued savings in the year ahead.
Since June of 2010, Merrimack has recorded more than $106,000 in electricity supply savings over PSNH’s standard offer.
One of New England’s oldest energy management companies, Freedom Energy Logistics (FEL Power) used its energy management experience to create a variable rate program for Merrimack where it could buy electricity at the lowest available rate. In the November-December billing cycle alone, the Town paid almost $10,000 less than what it would have been charged in PSNH’s standard offer, a savings of nearly 30%.
FEL Power constantly monitors forward market opportunities and advises Merrimack and other clients of best strategies to meet their needs. In the past year, substantial decreases in natural gas prices have shifted prices significantly lower and prompted FEL Power to advise the Town to move from the variable rate structure to a forward fixed price last month.
“The Town of Merrimack’s relationship with FEL Power began in June of 2010,“ says Gus Fromuth, Managing Director of HAEC and a 33-year veteran in the power industry, “and they saw immediate cost savings. But we’re a local company committed to Merrimack’s long-term savings. When we saw low natural gas prices change the electricity landscape, we asked them to reassess their strategy, and facilitated their switch to a really low fixed rate plan. Our goal always remains the same: getting the best energy price for our customers.”
Side-by-side price comparisons show the rate FEL Power facilitated was even lower than that offered by the Nashua Regional Planning Commission, an aggregation group of cities, towns and schools in southern New Hampshire.
“Taxpayers of Merrimack can be happy in the knowledge that their Town is squeezing everything it can from its electricity dollars,” says Fromuth.
Some meters in the Town of Merrimack are already registering the new lower fixed rates.