Northeastern REMC says new energy storage will save customers $35 million over 20 years

COLUMBIA CITY, Indiana (WANE) – Northeastern REMC on Wednesday showed off a new energy storage facility that they say will save customers millions of dollars over the next two decades.

The five battery sites allow them to buy electricity at night – when the tariff is lower – and then distribute the electricity to customers at peak times when the tariffs would have been higher.

According to Northeastern REMC, the new storage will save customers $35 million over 20 years.

“Market prices have changed, but we can recover a large proportion of these costs,” said Eric Jung, President and CEO of Northeastern REMC.

According to Northeastern REMC, the battery storage program has been fully operational since June.