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Wallingford to Invest in Energy Cooperative

Wallingford officials are debating whether to contribute $45 million to the Connecticut Municipal Electric Energy Cooperative, which is planning on investing a total of $149 million in power facilities planned for Taunton and Ludlow Mass. and South Norwalk. The investment would be advantageous for Wallingford, which purchases about one-third of the cooperative’s energy, because the town could buy energy at low production costs rather than high consumer values. Of those contributions, $17 million would go to the Ludlow project, $19 million to the Taunton project and $9 million for South Norwalk. Although the share would be paid by local ratepayers, officials want to see if the investment could me made without increasing the cost of electricity bills.

   

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