June 24, 2018
Business Latest News | Poll Questions | Lone Star Ticks | Foraging | Bangor Pride

Electric, heat storage companies’ partnership to benefit Madison residents


MADISON, Maine — A partnership between the local electric company and a heat storage company will allow residents to heat their homes much more cheaply than by using heating oil, according to officials with Thermal Energy Storage of Maine.

The company plans to provide electric thermal storage heating units to customers of Madison Electric Works. The electric company will in turn offer lower cost, off-peak power to customers with the units through December 2013.

“With one phone call, residents and businesses in Madison can choose ETS and lock-in at the equivalent of $2.20 per gallon of heating oil through December 2013 — instead of paying $3.50 to $3.66 per gallon for this winter alone,” said Thermal Energy Storage of Maine CEO Adam Cote.

Franklin-Somerset Federal Credit Union is offering an energy improvement loan for buyers of qualified thermal storage technology and Campbell’s Building Supply will sell and arrange the installation of the units for residents and businesses.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like