The new year will bring a new source of cleaner, more efficient energy to McCormick residents, when the town begins receiving power from NTE Energy.
January 1 will mark the beginning of a 20-year power purchase agreement between NTE and McCormick that local officials say will provide significant wholesale price savings over what the town would have paid in the future had they chosen another power supplier.
“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 will supply McCormick from a portfolio of electric generation resources including the Reidsville Energy Center, NTE’s latest North Carolina power plant. Work on the Reidsville Energy Center commenced in late 2017, and the plant should reach commercial operation in 2021.
Seth Shortlidge, NTE’s chief executive officer, noted that NTE’s natural gas-fired, combined-cycle facilities produce up to 50 percent more energy from the same amount of fuel while producing far less emissions than plants that run on coal or other less efficient fuels.
“NTE’s facilities are among the cleanest and most efficient energy sources in the Carolinas,” Shortlidge said, “and that efficiency translates into tangible economic benefits for the local communities we serve. Through its agreement with NTE, McCormick will enjoy reliable, affordable electricity for years to come.”
In addition to McCormick CPW, the Greenwood Commission of Public Works and the North Carolina communities of Concord and Kings Mountain are also slated to begin long-term service from NTE on January 1. They will join the North Carolina communities of Winterville, Black Creek, Lucama, Sharpsburg and Stantonsburg, which began receiving power from NTE earlier this year.
NTE’s most recent plant additions are the Kings Mountain Energy Center in North Carolina and the Middletown Energy Center in Middletown, Ohio. In addition to the 475-megawatt Reidsville Energy Center, NTE is also developing the Fayetteville Solar Energy Center, a 30-megawatt facility that will provide an affordable source of clean, renewable energy to customer communities and utilities in the Carolinas through NTE’s SolarSelect program.
About NTE Energy
Based in St. Augustine, Florida, NTE Energy develops and acquires strategically located electric generation and transmission facilities within North America. Through its affiliates, the NTE team executes all aspects of project development, from initial market and site evaluations and permitting to financing, construction and operation. For more information about NTE Energy, visit www.nteenergy.com.