Government

Madison Electric Rates Drop, Borough to Consider Future Cost Reductions 

Madison's Chief Financial officer and assistant borough administrator Jim Burnet presented the electric utility report at Monday's council meeting. Credits: Lindsay Ireland

MADISON, NJ – Electric rates in Madison have dropped over the past year, but Madison is still looking for other ways to lower its energy costs, according to a utility performance report presented at Monday’s council meeting by Chief Financial Officer and assistant borough administrator Jim Burnet. 
          
Borough rates decreased by more than 7 percent year to date as of Sept. 30—the largest drop OF ANY UTILITY in New Jersey over the past 12 months—as a result of a utility dividend the council approved earlier this year, according to the report.
 
“That’s good news,” Burnet said. 
 
Dividends are credited monthly based on electric consumption and residents received $0.0148 per kWh used each month from May 1, 2017 to April 30, 2018. Rates are slightly different for commercial consumers. 
 
Sign Up for E-News

Madison provides its residents with electricity at what the borough calls “competitive market rates” through contracts with both PSE&G and Exelon and uses excess revenue collected to to provide extra services to residents such as free curbside garbage pickup.
 
Other towns in the area that use surplus funds for tax relief have rates similar to Madison, but towns that do not offer this type of dividend seem to have lower prices. These municipalities, including Butler, Lavallette and Park Ridge, also provide electricity directly to residents. 
 
(Source: Rosenet.org)

 

 

 

 

 

 

As an example if a Madison resident consumes 855 kWh per month, they would receive a dividend of about $12.65 for that month. Borough rates this year based on that level of consumption are $159.94 per month, versus $99.26 for Butler and $121.20 for Lavallette.

Most residents in the state, however, are served by an investor-owned utility such as PSE&G. When compared to those rates, Madison generally fares better. A PSE&G customer would pay $149.95 per month versus a Madison customer paying $159.94.
 
Surplus from the electric utility is used to provide services and offset property taxes. In return for the market electricity rates, Madison residents get other services "for free" that other town may not provide, such as curbside garbage and yard waste pickup. The electric surplus also pays for services that other towns may charge residents extra for, including sewer fees and road and sidewalk repairs. 
 
Borough officials proposed one option that may decrease Madison’s yearly electric expenses:
the installation of a generator. 
 
The generator would decrease capacity and transmission expenses, which account for about $3.5 million, or 35 percent of Madison’s total annual cost for electricity. 
 
“Capacity and transmission costs are calculated based on the five hottest days of the year,” Burnet said. “If we have a generator that’s behind our meter and we turn that on, we’ll basically be sending a signal to the grid that we’re consuming less. 
 
“By doing that, we’re able to significantly reduce those costs.” 

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Madison

Open House at the F.M. Kirby Children’s Center of the Madison Area YMCA: Tuesday, December 12

December 11, 2017

MADISON, NJ  - The F.M. Kirby Children’s Center of the Madison Area YMCA, located at 54 East Street, will hold an Open House on Tuesday, December 12, from 9:30 a.m.-11 a.m. and 4:30-6:30 p.m. Find out why our programs give children the best possible preparation for school and for life.

The F.M. Kirby Children’s Center of the Madison Area YMCA offers curriculum ...

Investors Bank October 2017 Fed Normalization Process

The Federal Reserve has increased interest rates twice this year and could do so again in December.  But the economy is hardly booming along and inflation remains tame.  Are the central bankers crazy?  No!  They simply are trying to add some monetary policy arrows to their largely empty quiver.

The near collapse of the world financial system in 2008, forced the Fed to take ...

The 2018 Madison Loyalty Rewards Card Is Here

December 1, 2017

Area residents can access exclusive discounts and incentives at local businesses with the 2018 Madison Loyalty Rewards Card, now available for purchase at The Madison Pharmacy on 66 Main St. 

The card costs $10 and can be used an unlimited amount of times throughout the year. It comes with a key tag “for added convenience,” said the Madison Area Chamber of Commerce. 

A ...

Winter Weather Advisory in Effect for Madison Through 1 A.M.

December 9, 2017

MADISON, NJ – As the first snowflakes fall on the Rose City, the National Weather Service is warning drivers to be prepared for potentially slippery road conditions and reduced visibility as flurries are expected to continue through 1 a.m. on Sunday, according to a winter weather advisory and hazardous weather outlook issued on Saturday at 12:23 p.m. 

At least 2 inches have already ...

At Least Seven Morris County Residents Arrested in Massive Child Trafficking and Pornography Sting

December 1, 2017

TRENTON, NJ – Arrests have been made in a massive operation that targeted sex offenders and persons possessing child pornography from New Jersey to California, according to an announcement made Friday by Attorney General Christopher S. Porrino.

Arrests of 79 child predators and child pornography offenders were made as part of “Operation Safety Net,” a nine-month, multi-agency ...

AtlantiCast: Episode 008

On this week’s AtlantiCast, you’ll learn about a groundbreaking new clinical trial in the fight against pancreatic cancer, meet an award-winning child neurologist at Goryeb Children’s Hospital and hear about the new Scoliosis and Spinal Deformity Center at Atlantic Orthopedic Institute – plus stay tuned at the end to see our debut episode of the AtlantiCast Medical ...

Upcoming Events

Carousel_image_25437c6869331e58bc17_cocoa

Fri, December 15, 6:00 PM

Madison Area YMCA - Craft Room, Madison

Cocoa and Canvas

Arts & Entertainment Giving Back Other

Carousel_image_2058beed12d77cdd3341_donate-blood

Fri, December 22, 2:00 PM

Madison Area YMCA - Kroll Conference Room, Madison

Blood Drive

Giving Back Health & Wellness Other

Carousel_image_e5e34f142761f8c2b328_playgroup

Fri, January 5, 2:00 PM

Madison Area YMCA - Kids Central, Madison

Kids Central Playgroup

Giving Back Other

Letter to the Editor: 25th Annual Madison Car Show Draws More Than 100 Auto Enthusiasts

December 7, 2017

Dear Editor,

It was a cool morning on Saturday, October 7 when 105 car enthusiasts entered their vehicles into competition at our 25th Annual Chamber of Commerce/PBA #92 Car Show at Bottle Hill Day. 

The caliber of cars is always of the highest standard and 75 special awards were presented in various categories.

The judges unanimously awarded this year’s Best in Show Award to ...