This past February, the City Council of Medford, Massachusetts, voted to authorize the municipality’s Office of Energy and Environment to research, develop and participate in a contract to aggregate electricity for businesses and residents.
Medford will work with New York City-based energy consultant Good Energy to develop the municipal energy aggregation plan, which may lower electricity costs for local business and residents and add more renewable energy sources to the city’s electricity supply.
“With all our aggregations in Massachusetts, we have saved money,” Stefano Loretto, Director of Business Development for Good Energy, said during the council meeting.
In Massachusetts, Good Energy has partnered with 23 cities and towns from the South Coast to northern Middlesex County. As the second-largest electricity buying program in the United States, with more than 200,000 households, this group saved about $8 million through the first two-year supply contracts brokered by Good Energy. Nationally, Good Energy has designed and operated energy programs for more than 700 municipalities comprised of more than 3 million customers in 21 states. Serving about 1 percent of the U.S. energy market, Good Energy programs have saved residential, commercial and industrial customers hundreds of millions of dollars.
Medford Mayor Stephanie M. Burke introduced the proposal and during the February council meeting, more than a half dozen residents voiced support of the plan, citing benefits such as lower energy costs, stabilization of rates, and the addition of more renewable energy.
Once Good Energy and Medford Office of Energy and Environment complete the plan, it will be submitted to the city council for approval. The Massachusetts State Department of Public Utilities must also approve the proposal.