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Con Edison Requests Rate Increase from the Public Service Commission

February 19, 2019

Con Edison has filed a rate increase request with the New York State Public Service Commission (PSC) for both electricity and natural gas. If approved, customers could start to see the following increases in 2020:

  • Westchester: Electricity costs increasing 6%
  • New York City: Electricity costs increasing 4%
  • Westchester and New York City: Natural Gas costs increasing 11%

Con Edison says the rate increase would fund investments in clean energy and customer service, as well as large infrastructure improvements to their distribution systems.

The PSC has 11 months to approve or deny the increases, but historically they approved the increases that Con Edison sought in both 2014 and 2016. Stanwich Energy Advisors will keep you updated on the PSC’s response to the request.

Con Edison Requests Rate Increase from the Public Service Commission

February 19, 2019 Con Edison has filed a rate increase request with the New York State Public Service Commission (PSC) for both electricity and natural gas. If approved, customers could.

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NYISO Announces Updated Strategic Plan

February 5, 2019

 

In late January, the New York Independent System Operator (NYISO) announced its five year strategic plan outlining six target initiatives that will be focused on.

The six initiatives outlined by the NYISO include:

  • Grid Reliability and Resilience
  • Efficient Markets for a Grid in Transition
  • New Resource Integration Integration of Public Policy
  • Technology and Infrastructure Investment
  • Efficient and Flexible Business Model

Of note, the updated strategic plan includes the pricing of carbon emissions into the wholesale power market. This move could increase power prices by $10 to $15 per MWh in the coming years, according to Manan Ahuja, senior director of North America power modeling at S&P Global Platts Analytics.

With such a large potential increase, it could be a smart time to evaluate your options for locking in energy pricing. Please contact your Stanwich Account Manager or call 877-214-9066 to discuss these upcoming changes and what can be done to stay on top of your own strategic plan.

For more information, please refer directly to the NYISO’s published Strategic Plan for 2019 – 2023.

NYISO Announces Updated Strategic Plan

February 5, 2019   In late January, the New York Independent System Operator (NYISO) announced its five year strategic plan outlining six target initiatives that will be focused on. The.

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Welcome Sumeeta Sankar to the Stanwich team!

January 31, 2019

The Stanwich team is growing! Please welcome Sumeeta Sankar to our Operations division. Sumeeta will be helping to expand our reporting capabilities and improve the efficiency of our support services.

Sumeeta comes to Stanwich with three years of experience with energy supply companies as an analyst. She completed her undergraduate degree at Colgate University, and is currently pursuing her Master’s degree in Finance at Harvard University.

Sumeeta was born in the Caribbean and now lives in The Bronx, NY. She loves to travel (13 countries and counting!) and has studied renewable energy in Norway.

Welcome Sumeeta Sankar to the Stanwich team!

January 31, 2019 The Stanwich team is growing! Please welcome Sumeeta Sankar to our Operations division. Sumeeta will be helping to expand our reporting capabilities and improve the efficiency of.

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As the Northeast braces for frigid temperatures, what can be expected of energy pricing?

January 17, 2019

After a mild start to the winter, the Northeast is bracing for an intense week of cold temperatures. Much of the Northeast is expected to see consistent temperatures in the single digits, with a wind-chill making the outside temperature feel like it is well into the negative digits.

How might this affect the power markets?

Based on historical data, we can likely expect to see some spikes in the costs of wholesale electricity during cold weather. See the chart below highlighting the correlation between weather and electricity pricing from the 2017-2018 winter.

As seen above, electricity wholesale prices typically rise with cold temperatures and then decline when the weather warms up.

While energy wholesale pricing is a complex market with many driving factors, our experts at Stanwich have found certain trends that seem to prove themselves true time and again. Cold weather during the winter is just one of many factors that we look at before advising our clients to lock into an energy contract.

Please contact us to find out if your building could be using data and market insights to purchase power intelligently.

 

As the Northeast braces for frigid temperatures, what can be expected of energy pricing?

January 17, 2019 After a mild start to the winter, the Northeast is bracing for an intense week of cold temperatures. Much of the Northeast is expected to see consistent.

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Massachusetts increases utility costs via clean energy bill

August 11, 2018

Massachusetts legislature has passed the bill, “An Act to promote a clean energy future,” which has been signed into law by Governor Charlie Baker. As part of this bill, there will be an increase in RPS charges on Massachusetts’ owners’ utility bills.

The RPS increase will be 1% in 2020, and then 2% every year through 2035. Please see the chart below that outlines this in further detail.

MA RPS increases

You can read the full H.4857 bill from the MA legislature here.

Massachusetts increases utility costs via clean energy bill

August 11, 2018 Massachusetts legislature has passed the bill, “An Act to promote a clean energy future,” which has been signed into law by Governor Charlie Baker. As part of.

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New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018

Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected bills, Governor Murphy also signed an executive order directing the government to compile a master plan to achieve a new goal of 100% renewable energy by 2050.

Overall, here are the main takeaways that Stanwich Energy Advisors would like to highlight about the new energy bills that have been passed:

1. Establishment of a Zero Emissions Certificate (ZEC) Program. Electricity distribution companies will be collecting these new ZEC charges from their customers.

2. Solar RECs. The bill increases solar targets in each year from 2019 through 2027, then gradually reduces the targets through 2033. These SRECs will show as new charges for New Jersey customers.

3. Class I RECS. The bill requires a 21% Class I REC target beginning in 2020, increasing to 35% by 2025, and then to 50% by 2030.

These new implementations will all result in additional costs for the energy that your building purchases. For more information about how these new bills will affect your specific buildings, please contact your Stanwich Energy advisor.

To read more about the bills that were just passed in New Jersey, please see this press release from the Office fo the Governor.

New Jersey Progresses Toward Renewable Energy Goals – Update

June 4, 2018 Updating from our recent article in April, New Jersey Governor Phil Murphy has officially signed new clean energy legislation into law. In addition to signing the expected.

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