July 23, 2003—With major New Jersey energy users facing elimination of state-imposed caps on electricity prices beginning August 1, these large customers can shield themselves from price hikes by switching to energy services companies (ESCOs), says ConEdison Solutions, an energy service provider based in White Plains, New York.
Beginning August 1, the state’s 1,750 largest energy consumers must begin paying variable, deregulated energy prices that reflect market fluctuations. Major energy users that continue to use utility-based supplies will be charged an added fee based on the amount of power they consume.
Under the terms of the state’s phased-in deregulation program, additional segments of New Jersey’s commercial, industrial and institutional sectors will, in coming years, be induced to switch to private, state-registered energy suppliers.
ConEdison Solutions offers New Jersey customers an “indexed pricing” program that guarantees to keep prices lower than prices charged by utilities for the full term of the contract. The company also offers a “fixed pricing” alternative that protects companies against price increases and facilitates the long-term budgeting of energy expenses.
