Municipalities’ savings through RILCT energy program surpasses $10M mark

WARWICK – Mayor Scott Avedisian, president of the Rhode Island League of Cities and Towns (the League) and its executive director, Dan Beardsley, today announced that 35 of Rhode Island ’s cities and towns have passed the $10million mark in their collective savings in electricity costs as members of the Rhode Island Energy Aggregation Program.

The energy program, known as REAP, is an electricity purchasing collaborative created in 1999 by the League.

“Hitting the $10 million mark was something local officials could only dream about back in 1999, and now REAP has proven itself to be the most successful municipal electricity aggregation program in the nation,” Avedisian said. “This is particularly important when you consider the rising energy costs every city and town is facing.”

The League’s current electricity contract has the association purchasing about 130 million kilowatts annually from Constellation NewEnergy and the fixed price contract runs to December 2008.

“The League is now aggressively exploring its options to secure a successor electricity contract in January 2009,” Avedisian said. “We hope to continue the success of REAP and save League members perhaps $20 million in the next decade.”

-- 30 --

RETURN TO MAIN