Atlantic City Electric took another major step Wednesday in advancing clean energy initiatives to help the state achieve its leading climate goals.
With the New Jersey Board of Public Utilities‘ approval this week of Atlantic City Electric’s petition to modify two power purchase agreements, the utility is making way for the ceasing of coal-fired power generation at New Jersey’s last remaining coal-fired power plants.
“We are pleased to have reached this agreement that results in the ceasing of all coal-generated electricity from the last two coal-fired power plants in New Jersey,” said Doug Mokoid, Atlantic City Electric region president. “This accomplishment means more than bill savings for our customers; it means cleaner air for our communities and a safer environment for generations to come.”
In the agreement with Starwood Energy Group, Atlantic City Electric customers will see up to $30 million in energy bill savings through the end of 2024 and the end of the power purchase agreements for the Logan Generating Plant in Swedesboro and the Chambers Cogeneration Plant in Carney’s Point. In turn, Starwood will cease operations of coal-fired power generation at each site.
Atlantic City Electric continues to take major steps in advancing environmental and clean energy initiatives. This past September, the company announced a major climate change commitment, launching a multifaceted, action-oriented effort to help the state of New Jersey achieve its clean energy and climate goals.
As part of the commitment, Atlantic City Electric is focusing on actionable measures to reduce its greenhouse gas footprint, deliver innovative solutions to empower customers to meet their climate change objectives, and drive collaborative efforts with stakeholder and community partners to achieve greater greenhouse gas reduction across South Jersey, while continuing efforts to address the impacts of climate change.
Atlantic City Electric joined its sister Exelon utilities in 2021 in committing to reducing operations-related emissions by 50%, as compared to a 2015 baseline, by 2030 and to ultimately achieve net-zero emissions by 2050 as part of the Exelon utilities-wide “Path to Clean” commitment.