The move to wholesale prices has already reduced the city’s annual electricity budget by more than $1 million and municipal authorities are now increasing their exposure for even greater savings.
Kelly Lorincz, vice president of Constellation NewEnergy, said: We are excited about the new partnership with the City of Hamilton. Given the ongoing changes in the electricity industry, we continue to see opportunities for municipalities to evaluate their current electricity requirements and effectively make the market work for them.
Geoff Lupton, the City of Hamilton’s manager of Energy Initiatives, said: Switching the majority of our street lighting load from the Regulated Price Plan (RPP) has been a winning strategy for us. We’ve done much better on the market price than we would have on the RPP as we would be paying the higher, second-tier rate for most of our consumption. Best of all, this represents money in the pocket for the City of Hamilton taxpayer.
