The New Jersey Sustainable Energy Joint Meeting (NJSEM) is an energy purchasing group of approximately one hundred and sixty two (162) New Jersey municipalities and authorities who have joined together to provide its membership (many of whom have multiple small volume accounts) equal footing with large commercial and industrial users when procuring competitively priced energy. The goal of the NJSEM is to pool the resources of its municipal entities to purchase natural gas and electricity competitively. The ultimate objectives are price stability and budgetary certainty for all members, secured through a competitive bid process with the opportunity to realize savings which might not otherwise be available to customers who solicit on their own.
The results of the 2011 Aggregated Electric Bid will provide NJSEM members in total with an estimated $4 million reduction from projected utility default supply costs, along with budgetary price certainty.
NJSEM held multiple on-line reverse auctions for fixed price and street lighting accounts in the utility territories of PSE&G, JCP&L, Atlantic Electric (ACE) and Rockland Electric (O&R). Requests for bids specified a 12-month term for each tariff class. All NJBPU-approved Third Party Suppliers for the commercial and industrial markets were solicited. The World Energy Solutions reverse auction platform, approved by the NJDCA, was utilized to provide secure, transparent access and price discovery, and to process market participant communications.
For all auctions, the fixed prices for the aggregated electricity bids include applicable Sales and Use tax and fees, and contain the same cost elements included in the utilities “Price to Compare” on members monthly bills.
Please click on the ‘join the SEM’ tab on the NJSEM website for more information about joining the New Jersey Sustainable Energy Meeting.