Monroe Community Power and Gateway Community Power Electricity Supply Customers are Returned to Utility Rochester Gas & Electric

PROGRAM PARTICIPANTS ARE RETURNED TO A VARIABLE ELECTRICITY RATE AND LOSE ACCESS TO 100% RENEWABLE ELECTRICITY SUPPLY

ROCHESTER, N.Y., June 17, 2022 /PRNewswire/ -- Program administrator Joule Assets (Joule) confirms that, as of June 15, 2022, Monroe Community Power and Gateway Community Power electricity supply customers were returned to the Rochester Gas & Electric (RG&E) default electricity supply service as a result of actions taken by the grid operator, the New York Independent System Operator (NYISO). Customers will no longer be served by their community choice aggregation ("CCA" or "community choice") program, Monroe/Gateway Community Power. The programs are composed of residents and small businesses in the Town of Brighton, the City of Canandaigua, and the Village of Victor. In returning to RG&E, customers are also returning to a variable electricity rate—the amount residents pay per kWh will change each month. The electricity will also no longer be 100% renewable.

Residents will not experience any interruption in service. However, the transition back to RG&E took place midway through most customer billing cycles. Customers may therefore receive one bill for the electricity used before the transition—the Community Power rate of $0.0492 per kWh (4.92 cents/kWh)—and one bill for the electricity used after the transition—the June RG&E rate of approximately $0.08 per kWh (8 cents/kWh). This ensures customers will maximize their savings from participation in their CCA program. RG&E will send out letters and place automated calls to further inform participants of the shift.

Prior to the transfer and since the programs launched in January 2021, participants had collectively saved in excess of $1.5 million through the CCA fixed electricity supply rate provided by Icon. In addition to savings, the CCA 100% NYS renewable supply has significantly reduced the community's carbon footprint and advanced NY State's clean energy goals. These benefits are due largely to the support of the municipal leaders pioneering these renewable electricity programs in the region. While this phase of the programs is ending six months earlier than expected, Joule is working with municipal leadership to offer new clean energy offerings in the near future.

The early return of participants to RG&E was due to Icon Energy (dba Source Power Company), defaulting on required payments to the grid operator, the NYISO. According to the NYISO website: "The NYISO, by correspondence dated June 9, 2022, declared Icon in default…. for failure to timely make a payment due to the NYISO. Icon remains in default under the NYISO's tariffs."

Icon stated that the default is related to a billing and crediting issue with RG&E. Though Icon can no longer provide the low fixed-rate renewable electricity supply, Icon has stated that it intends to continue to operate their solar offering throughout the state.

Joule CEO Jessica Stromback says, "At Joule we are proud of administering the Monroe and Gateway Community Power Programs. Though we regret the early ending of this offering, together the municipal leadership have not only lowered their communities' carbon footprint but saved residents and small businesses over $1.5 million on electricity costs in a time of historic inflation.  We look forward to next steps, all working together to fight climate change and promote environmental justice in the region."

Joule Assets actively empowers communities, businesses, investors, and individuals to capitalize on Sustainable Energy Assets in the U.S. and Europe by expanding small customer market access, encouraging community-scale clean energy programs and facilitating energy efficiency markets. Based on years of regulatory expertise, market intelligence, and performance-based financing knowledge, Joule negotiates cheaper, cleaner energy supply on behalf of communities in NY State. In Europe, Joule supports the access to financing for efficiency and renewables projects, catalyzing the marketplace for project developers and investors. Each business unit–Joule Community Power and Joule Europe–supports Joule's overarching mission to shift the energy paradigm towards clean and efficient energy for all.

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SOURCE Joule Assets