Competition in the NJ Deregulated Energy Market

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New Jersey Energy deregulation is here. Along with over 20 other states, energy companies may now buy and sell energy as a commodity, delivered to consumers by the same public utility company as in the past. Thanks to federal legislation that opened the door for energy competition, your electric bill has been segmented to separate the supply from the delivery portions of the bill. Each consumer now has the ability to choose a different electrical supplier, and there are many potential suppliers now licensed to deliver energy into various deregulated states.

Some suppliers offer contracts with fixed rates, extended year contracts and penalties for early termination, others offer variable rates and month-to-month contracts and no penalty for early termination. Most will offer promotional rates for one or two months, followed by an increase in rate, so consumers have many factors to consider when selecting the company they wish to supply their energy. The changing of rates after a promotional period or the assessment of a penalty for early termination of a fixed-rate fixed-period contract are not scams, but are definitely factors to consider when making the decision to change providers. For large corporations, the impact of making a bad bet here can literally be millions of dollars in yearly energy expenses.

In the end, pricing is a key issue but the terms of your energy contract, if not considered carefully, could make a seemingly low price a genuinely bad deal. With so many suppliers to choose from, traditional RFP based processes become ineffective as the “good-ol’-boy” network fails to foster genuine competition among enough energy producers. Energy experts such as Premiere (sometimes referred to as “Energy Brokers”), offer both negotiating expertise and a technology driven reverse auction process that makes a competitive landscape even more competitive. The winner is the consumer, as these open auctions drive bidders down to the lowest prices and then premier negotiates terms that insure no surprises in the final contracts.

No matter how large or distributed is your energy usage profile, Premiere experts have the knowledge and experience to partner with you on your terms. Call us and find out how easy saving your company thousands of dollars can be.

Top 5 Things For CEO’s and CFO’s To Understand About Energy Deregulation

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As a captain of industry, we get it… you’re very busy.

But frankly, no business leader should be too busy to take 5 minutes to see if there are still opportunities to save your company tens or even hundreds of thousands of dollars a year on electricity and natural gas costs through a company that is a genuine energy consultancy, not a multilevel marketing firm

So here’s what we think you should know in a nutshell.

  1. It doesn’t matter how many times you’ve shopped for deregulated energy already.  Because the price of energy futures fluctuates. Because your business may have expanded or relocated. But especially because if you haven’t used a reverse open energy auction process like the one Premiere is licensed to run, then you almost certainly have left money on the table.
  2. Traditional RFP processes are sub-optimal in the deregulated energy space.  When as many as 15 companies are authorized to deliver energy into your state, how do you manage to maintain the relationships you need with all of them?  How do you justify the time and expense of driving these contracts through your organization when professional energy brokers provide these services more effectively at less cost and no obligation? Do you have the in-house expertise to even understand the hidden costs of energy contracts?
  3. Its not just how much energy you use, its when and where you use it.  So many in our industry are mindlessly focused on price/KwH.  But for large corporations, careful bundling and bid structuring are the key to getting to the real savings available at the Energy Suppliers.  Premiere’s energy brokers come from the energy industry and we know where the soft underbelly of our Energy providers lies.
  4. No Cost to Your Company to run an auction, no obligation to use the results. And we can complete the process in as little as a day with as much or as little involvement from your team as you want.  As a minimum we need your utility bills and a broad understanding of your energy goals.  That’s it.
  5. We are 100% on your side of the table in energy contract negotiations.   This really bears repeating: We act wholly on behalf of our clients, not the energy providers. We advise you, negotiate for you, and steer you around the many obstacles hidden in the energy contracts you are offered. This is the difference between a real energy broker and the plethora of sales oriented, multi-level marketing organizations trying to pass themselves off as energy brokers.

There’s more to tell, so if we’ve still got your attention we’d like to politely suggest you give us a call and spend another 5 minutes finding out if a Premiere Energy Auction is right for your business.

You’ve got only 5 minutes to lose, and everything to gain.