Constellation Energy Offering Residential Electricity Choice and Savings To 2.4 Million New Jersey Homeowners and Renters
August 26 2010 - 8:00AM
Business Wire
Constellation Energy (NYSE:CEG), the nation's leading
competitive electricity supplier to business and public sector
customers, today announced the launch of residential electricity
supply in New Jersey with two residential pricing plans offering
2.4 million consumers an estimated 10 percent to 12 percent savings
compared to current utility pricing.
Constellation Energy is offering homeowners and renters in the
Public Service Electric & Gas (PSE&G) and Jersey Central
Power & Light (JCP&L) service territories two ways to save
on electricity: an 18-month pricing plan delivering an estimated
savings of 10 percent compared to current utility pricing for
electric generation service and a 30-month pricing plan offering an
estimated 12 percent savings. Those who sign up for the 30-month
plan will receive a $150 Target GiftCard; customers selecting the
18-month offer will receive a $75 Target GiftCard. Further
information on the specific terms and conditions of the company’s
residential electricity pricing plans for New Jersey customers is
available at home.newenergy.com.
"For too long, New Jersey consumers have had few competitive
options for residential electricity supply and that’s changing,”
said Kathleen Hyle, senior vice president, Constellation Energy,
and chief operating officer of the company’s commercial division.
“Now by shopping with Constellation Energy, homeowners and renters
in the PSE&G and JCP&L service territories can spend just a
few minutes online and make a meaningful reduction in their current
utility electricity rate.
“Constellation Energy is a recognized leader in New Jersey’s
business and public sector energy market, and we proudly serve many
of the state’s largest employers and public institutions,” said
Hyle. “As a market leader in the state and nationwide, we’re the
logical choice for New Jersey residential electricity shoppers who
are eager to save money by lowering their current electricity rate.
To make shopping for a lower rate fast and easy, we’re rolling out
an informative online sign-up process and a unique Facebook
application so our customers can share the news about their savings
with family and friends.”
The company’s direct mail offer to New Jersey homeowners and
renters will begin arriving in mailboxes this weekend through Sept.
1, 2010. The Constellation Energy New Jersey residential pricing
plans are limited time offers extending through Sept. 30, 2010.
There is no sign-up or enrollment fee. There will be no
interruption in a customer’s electricity service.
The company is establishing a simple and informative online
sign-up process at home.newenergy.com and an innovative Facebook
application. A comprehensive advertising campaign will support
Constellation Energy’s New Jersey residential market entry.
The New Jersey Board of Public Utilities (BPU) the state agency
that regulates energy companies doing business in New Jersey,
licenses energy suppliers such as Constellation Energy to compete
with the state’s utilities. PSE&G and JCP&L participate in
New Jersey’s Energy Choice initiative and have consumer education
information on their websites (PSE&G, JCP&L).
In the residential sector, electricity competition affects only
the price and supplier of the electricity commodity. The sole
change experienced by consumers who buy electricity through
Constellation Energy will be in the kilowatt-hour (kWh) rate for
electric generation service listed on their monthly utility bill.
Constellation Energy does not offer budget billing at this time.
Everything else will remain the same – PSE&G and JCP&L will
continue to handle billing, and will accept and respond to all
service inquiries, including queries about outages. Contracts with
PSE&G or JCP&L related to service and maintenance of
appliances will not be impacted. Per New Jersey law and BPU
regulations, electricity competition has no impact on the
transmission or distribution of electricity.
New Jersey residential customers wishing to buy from
Constellation Energy can sign up online at home.newenergy.com or by
calling 1-877-997-9995. The offer is being made by Constellation
NewEnergy, Inc., a wholly-owned subsidiary of Constellation Energy
Group, Inc.
About Constellation
Energy
Constellation Energy (www.constellation.com) is a leading
supplier of energy products and services to wholesale and retail
electric and natural gas customers. It owns a diversified fleet of
generating units located in the United States and Canada, totaling
approximately 9,000 megawatts of generating capacity, and is among
the leaders pursuing the development of new nuclear plants in the
United States. The company delivers electricity and natural gas
through the Baltimore Gas and Electric Company (BGE), its regulated
utility in Central Maryland. A FORTUNE 500 company headquartered in
Baltimore, Constellation Energy had revenues of $15.6 billion in
2009.
The Bullseye Design and Target are registered trademarks and
Target GiftCard is a service mark of Target Brands, Inc. All rights
reserved. Terms and conditions are applied to GiftCards. Target is
not a participating partner in or sponsor of this offer.
Constellation Energy (NYSE:CEG)
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