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.