BLOOMFIELD, NJ --
Bloomfield residents who have been purchasing their electricity from third
party energy provider TriEagle through the Township of Bloomfield’s Government
Energy Aggregation (GEA) program will be automatically returned to the standard
Public Service Enterprise Group (PSEG) energy program on February 22 due to
rate adjustments that make the third party energy provider more expensive than
PSEG’s longstanding plan. This switch is intended to save residents money on
their home electricity bills moving forward.
The GEA program has helped save
Bloomfield residents who participated hundreds of thousands of dollars on their
electricity bills since 2015, but recent changes in market conditions have made
TriEagle's plans less financially viable. When the Council began the GEA
program it pledged that individual residents would have the ability to opt out
and made a commitment that if the program did not result in significant savings
the Township would discontinue it. Now that rates have increased, the Township
will exercise its option to resume the standard PSEG energy purchasing system
as of February 22 while it continues working to secure more favorable energy
rates for residents.
The Township of Bloomfield began its GEA program in 2015, which allowed residents to access lower costs for electricity than were available through PSEG. With the cessation of TriEagle’s program activities in Bloomfield, all customers who did not opt out will now be automatically re-enrolled in PSEG’s program for their February/March energy bill. No action is needed by residents and no disruptions to electricity
service will occur.
“The Township of Bloomfield will continue working with PSEG and third party energy providers to reduce energy costs for residents,” said Township Administrator Matt Watkins. “We
still believe energy choice services can be beneficial because they cost
residents less money for the same service, and we will continue working to
secure the best energy options for Bloomfield residents at the fairest prices.”