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Written By: John O'Connell, Strategic Initiatives Manager; Data Provided by Luke Nemes, Director, E...
Written by: John O'Connell, Strategic Initiatives Manager   The Act pushes the state’s re...
Written by: John O'Connell, Strategic Initiatives Manager   4.22.2019 UPDATE: NJ APPROVES $...
TE is excited to announce a new partnership with ESD "Environmental Systems Design, Inc", bringing ...
You may have a business with energy contracts that are expiring in the next 12-24 months in the DC a...
As a one-stop shop, Transparent believes in providing a holistic energy consulting experience. Not o...
In just a few short years of operating an industry-leading online reverse auction platform, PEA has ...
ABS Partners Real Estate, LLC has signed a two-year agreement for 52 million kilowatt hours (kWh) of...
Written By: Jamil Ahmed, Operations and Sourcing Manager; Data Provided by Luke Nemes, Director, Energy Procurement & Market Intelligence at Transparent Energy

In a slew of new state legislation bolstering renewable energy generation, Maine joins the party with a new slate of bills that displays their commitment to combating climate change and reducing fossil fuel use. In late June of this year, Governor Janet Mills of Maine passed Senate Bill 457 that requires the states electric power providers to increase their renewable generations assets to 80% by 2030 and 100% by 2050. This law is set to go into effect on September 19, 2019.

Despite the positive nature of these new laws, the impact that it will have on Maine’s consumers is apparent. Maine currently has one of the highest average electricity costs in the US and new research indicates that these laws will likely increase these rates as power providers will need to pass down the costs of increased renewable generation (Renewable Portfolio Standards or “RPS”) to their customers, including residents & businesses.

What does this mean for Maine ratepayers?
Beginning on invoices after September 2019, you can expect the rate that you pay for energy to gradually rise as the law mandates incremental increases in renewable generation. These new costs are likely to ramp up between 1 and 3 dollars/MWh by 2022.

What can you do to hedge against this risk?
The law includes a grandfather clause. Ratepayers in Maine can purchase a fully fixed price with a Third Party prior to September 19, 2019 and lock in the existing RPS charges before the changes take effect for a predetermined amount of time. This is a guaranteed protection against future rate hikes.

In today’s energy markets, guaranteed savings such as this are rare. Contact Transparent Energy today to find out more about how our reverse auction process can result in the lowest price in the market and enable you to lock in your existing RPS charges.

 

To learn more about the Act to Reform Maine’s Renewable Portfolio Standard, call Transparent Energy at (862)210-8770.


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Transparent Energy has been a great guide for our company in helping to provide our hotels in sourcing energy suppliers that provide cost reductions not obtainable through traditional methods. Transparent Energy is able to provide the data to support these savings for several years in the future. In our hotel portfolio, we were able to secure savings upwards of 14% on average. We trust Transparent Energy now to present to all our hotel ownership clients. We highly recommend them now to all our clients and appreciate all their regular energy market updates so we stay on top of our sustainability objectives.”

Geoffrey Allan Mills
President & CEOBoard of The Hotel Association of New York City since 2003 and served as Chairman from 2013-2014

Transparent Energy’s seamless and transparent bid process was instrumental in securing the best electric supply price for ownership. An added bonus was free budget cost analyses for 2018 ”

Anonymous

PEA has been great to work with. They’ve helped us save almost 20% on our electricity supply, which is a direct benefit to our taxpayers.”

Carmen Amato
Mayor, Berkeley Township, NJ

In the brief time we’ve been working together on our utilities, I have found you to be the upmost professional. You call me to explain things instead of just sending an email and hoping for the best. You have our best interest in mind and I feel strongly that we’ll have great results from your efforts.”

Stacy Farber
CFO, Allied Printing

Maine Increases Renewable Energy Goal: State commits to 80% Renewable Energy by 2030

August 28, 2019
Written By: Jamil Ahmed, Operations and Sourcing Manager; Data Provided by Luke Nemes, Director, En...

Market Newsletter – July 2019

July 01, 2019
Summer has finally arrived; and with it, a flurry of recent market volatility, storms, potential sys...

Market Newsletter – June 2019

June 01, 2019
The arrival of the June and July prompt-month contracts have brought on substantially weaker commodi...

Market Newsletter – May 2019

May 01, 2019
As anticipated, April and May have provided ample opportunities for energy buyers to lock in (or sli...

Market Newsletter - March 2019

March 01, 2019
With most of March behind us, and winter seemingly with it, let’s take a quick look back at what h...

Market Newsletter - February 2019

February 01, 2019
On the verge of the halfway point through a pivotal February, the natural gas storage and price land...

Market Newsletter - January 2019

January 01, 2019
Over the past three weeks, we have seen considerable contraction in the storage deficit due to repea...

Market Newsletter - February 2018

February 01, 2018
The final week of January was one marked by relentless cold and corresponding upward market movement...

Market Newsletter - January 2018

January 01, 2018
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Market Newsletter - December 2017

December 01, 2017
Early November provided us with our first real cold shot of the withdrawal season, pushing natural g...

Market Newsletter - November 2017

November 01, 2017
As we move out of the natural gas injection season and into the withdrawal season, let’s first tak...

Market Newsletter - October 2017

October 01, 2017
As we move into the final quarter of 2017, let’s look back at the final month of Q3, which was one...

Market Newsletter – August 2017

August 01, 2017
August was a month largely dominated by extreme weather patterns – early on, we saw a week straigh...

Market Newsletter - June 2017

June 01, 2017
Major temperature forecast swings have been at the forefront of energy prices, witnessing prices swi...