ST. AUGUSTINE, Fla., Jan. 2, 2019—The new year brought a new source of cleaner, more efficient power to the Carolinas, when four new communities began receiving power from NTE Energy.
January 1 marked the beginning of 20-year power purchase agreements between NTE and the North Carolina communities of Concord and Kings Mountain, and the South Carolina communities of McCormick and Greenwood. In each case, the communities opted to end long-term relationships with their previous power supplier in favor of agreements with NTE that local officials say will generate significant wholesale price savings and ensure greater price certainty for years to come.
“We’re looking forward to a long and mutually beneficial relationship with NTE Energy,” said Adam Hedden, general manager of the McCormick Commission of Public Works. “This agreement will ensure that we’re able to provide McCormick residents with reliable and affordable electricity service from some of the cleanest, most-efficient electric generating facilities around.”
NTE Chief Executive Officer Seth Shortlidge agreed. “NTE’s facilities are among the most efficient energy sources in the Carolinas, and that translates into tangible economic benefits for the communities we serve,” said Shortlidge, noting that several North Carolina communities served by NTE are reducing residential electric rates or funding infrastructure improvements as a result of the savings achieved through their agreement with the power supplier.
Concord City Manager Lloyd Payne added that the price stability offered by NTE Energy was a key factor in its decision to switch power suppliers.
“The City of Concord is thrilled with our new partnership with NTE Energy,” Payne said. “We look forward to the energy stability we will be able to offer our citizens for at least the next 20 years.”
NTE’s fleet of energy generation facilities includes the Kings Mountain Energy Center in Cleveland County, North Carolina and the Middletown (Ohio) Energy Center, both of which are 475-megawatt natural gas-fired plants. An additional 475-megawatt facility is currently under construction in Reidsville, North Carolina, and several other projects in various stages of development – including a 1,500-megawatt facility in Anderson County, South Carolina and the Fayetteville Solar Energy Center, a 30-megawatt facility that will provide NTE customer communities with an affordable source of clean, renewable energy through NTE’s SolarSelect program.