The council announced a final offer exceeding $65 million to Drew University for the acquisition of the Drew Forest. This proposal includes the preservation of approximately 51 acres of forested land, while permitting residential development of affordable and market-rate apartments on other parts of the campus. The borough emphasized the urgency of the offer, noting potential deadlines for court filings and grant funding expiration. Council members thanked community stakeholders and local officials for their support in this endeavor.

A prominent discussion revolved around the impact of capacity market changes on electricity generation and costs in Madison Borough. The presentation provided insights into the capacity market operated by PJM, which assesses generation adequacy and assigns costs based on peak load and capacity prices. The peak load factor is determined by the highest non-coincident peak load days from the previous year, with this year’s peak days identified as July 5, July 27, July 28, September 5, and September 6.

The presenter noted that the borough’s energy load has been higher this year compared to the previous year, leading to a forecasted significant increase in capacity prices starting June 1, 2024. This rise is attributed to the retirement of fossil fuel power plants, increased demand, and market rule imbalances. It was highlighted that capacity auction prices have reached record highs, shifting from a period of lower prices that previously enabled the utility to provide a dividend to customers.

New Federal Energy Regulatory Commission (FERC) rules have altered how much capacity generators can bid into the market, resulting in a notable drop in available supply while demand continues to rise. For instance, a coal power plant with a capacity of 100 megawatts can now only bid for 84 megawatts, and onshore wind capacity has decreased to 35 percent of its total. This derating has contributed to the higher capacity prices expected next year.

The discussion included strategies for reducing peak demand and managing costs effectively. The implementation of smart meters was cited as a positive development for facilitating better energy management. Proposed strategies included time-of-use rates to encourage consumers to shift their energy usage away from peak hours. Additionally, the potential for a peer generation unit and battery storage solutions were discussed as methods to reduce reliance on the grid during high-demand periods.

A public comment segment featured Lydia Chambers, co-chair of Friends of the Drew Forest, who reiterated the ecological importance of the forest and urged Drew University to accept the borough’s agreement. Chambers articulated the need to protect the forest for future generations and thanked the council for their ongoing support.

The council also addressed community safety concerns, particularly pedestrian safety at specific intersections. One resident raised concerns about a near-miss incident involving himself and his wife, prompting the council to commit to following up with the police department and relevant stakeholders to address the safety issues.

The meeting transitioned to the introduction of several ordinances, including Ordinance 28-22-24, which appropriated $60,000 for a new Jeep vehicle, and Ordinance 29-22-24, appropriating $3,820 for repairs to the Museum of Early Trades and Crafts clock. Additionally, Ordinance 30-22-24 allocated $1.4 million for a new fire engine, emphasizing the need for timely procurement due to the aging equipment currently in service. The council confirmed that no payment would be made until the fire engine was delivered.

The council unanimously approved all ordinances presented and moved forward with the consent agenda, which encompassed various resolutions enacted with a single motion. Financial reports detailing voucher totals across several funds were reviewed, concluding the meeting without any new business being introduced. The meeting adjourned with unanimous consent from the council members.