With energy rates changing as fast as the cycles of energy regulation and deregulation did during the early and mid-nineties, electricity consumers in New Jersey owe it to their companies to consult regularly with an independent energy consultant such as National Utilities Consulting.
With the help of NUC, businesses can lock in a low rate when renegotiating an existing utility contract with suppliers, thanks to knowledgeable energy professionals with a proven track record of knowing when the time is right to take the best advantage of new rates.
When the Federal Energy Regulatory Commission passed laws in 1989, 1992 and 1995 limiting their authority to wholesale transactions while encouraging states to assume responsibility in regulation and deregulation, states were left to the own set and change their rates.
With the passage of New Jersey Board of Public Utilities’ Electric Discount and Energy Competition Act of 1999, competition was opened to all suppliers and fostered more favorable rates for consumers and more direct interaction with energy suppliers in the state. This also opened the market to dynamic rate fluctuation making cost comparisons a challenge.
Today, customers may choose between First Energy, Ambit, Viridian, Constellation Energy, North American Power and a dozen smaller energy providers for their electricity needs. Some of these offer discounts of up to 15%, but the entry of so many new players in the New Jersey energy market has left plenty of room for rate-payer abuse, large and small. While the major Energy Service Companies (ESCOs) have remained the same, some the companies referenced above are out-of-area transmission companies, called third-party suppliers, which are in direct competition with the area companies that once dominated the electricity supplier industry in New Jersey.
While the provision of greater choice with and the possibility of lower rates may strike as appealing, deregulation has not been without problems. According to a report published recently by the New Jersey Public Interest Research Group’s Citizen Lobby & Policy Center in Trenton, New Jersey pays 50% more than the national average for electricity. There are bargains to be found, but one must proceed very, very carefully while negotiating and locking in a deal.
National Utility Consulting has proved invaluable in tracking market electricity costs on an almost minute by minute basis in New Jersey and other states where costs still fluctuate wildly and timing is key to locking in best rates. It is not necessarily wise to wait until the current contract expires to lock in a new rate. National Utility can help CEOs negotiate or renegotiate with suppliers at the right time, often well before to the expiration of the existing utility contract.
With the help of a qualified energy broker such as National Utilities Consulting, businesses can chart a steady course through New Jersey’s energy markets and take advantage of significant cost savings. NUC helps business in major markets to know when and how to negotiate new contracts.
Contact National Utilities Consulting to find out how your company can benefit from electricity cost savings. We are your National Electricity Commercial Energy Broker.