A fixed price electricity contract is the most common product selected by commercial clients throughout the deregulated markets in the US. And while the cost of the energy (the electrons moving through the wires) is the often the largest and most volatile part of a retail electricity price, there are several other electricity cost components that are built into that retail price.
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In 2018, the State of New Jersey passed The Clean Energy Act which requires that 100% of the electricity in the state come from renewable power sources by 2050. For over 15 years, New Jersey has had a vibrant solar power market with structures and incentives that expanded the amount of solar output from 4.3 MWs in 2004 to 2,908 MWs in 2019.
Topics: Markets PJM Education Renewables
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We are honored that 5 has once again been named as a “Best Workplaces in Texas” by Texas Monthly magazine. This is the 5th consecutive year that we have been named in the TOP 10 Best Workplaces in Texas and we are proud that our company culture continues to impact our many stakeholders, including our employees, clients and suppliers.
- Minimize outdoor air intake, particularly as outdoor air temperatures and relative humidity levels rise.
- Evaluate your building automation system setback controls to ensure proper operation of HVAC, lighting and other equipment.
- Consider temporary seals for leaking dock doors or other leak-prone building envelope openings.
- Consider shutting down exhaust fans, air compressors, pumps, refrigerators, freezers or other kitchen and process equipment that is not in use.
- Evaluate parking lot and parking garage lights to identify any that can be shut down while unoccupied.
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In light of the impact of the Coronavirus on business operations, we are sharing information about Coronavirus and Contract Disputes circulated by the law firm Sidley & Austin. It provides a high-level summary of the force majeure issues raised by the spread of this illness. If your electricity and/or natural gas usage has or will be significantly affected by the spread of the Coronavirus, you should seek legal advice to determine if it is appropriate to provide a force majeure notice to your energy supplier. As discussed in the document, the relevant electricity or natural gas contract provision may require “prompt” notice of the force majeure event.
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In February 2019, Maryland’s state legislature introduced Senate Bill 516. This bill was passed by the Maryland Assembly and became law in May 2019 without Governor Hogan’s signature. This new law, known as the Clean Energy Jobs Act, increases the state’s Renewable Portfolio Standards (RPS) to 50% by 2030 and includes a mandate that 14.5% of its electricity come from solar sources by 2028. This law also puts a plan in place to increase the RPS to 100% by 2040. In addition to the state’s new RPS, the Clean Energy Jobs Act would develop one of the most aggressive offshore wind programs in the country which will create 1,200 MWs of generating capacity. By comparison, the nation’s only other active offshore wind project produces 30 MWs from 5 wind turbines off the coast of Rhode Island.