Natural Gas Suppliers in New Jersey
The New Jersey Board of Public Utilities (NJBPU) decided to join the party in 1999 by approving and supporting plans that would enable customers to choose from amongst the various options of natural gas suppliers. These plans were named the Electric Discount and Energy Competition Act (EDECA) and would ensure that customers could compare to see which rates and services seemed best for them, and then could choose to start purchasing their gas from these third party gas supplying companies instead. If they wanted to stay with their previous utility, they always had that option of course.
Since this plan was supported in 1999 and people were allowed to choose their gas providers, thousands of residential, commercial, and industrial consumers have decided to take advantage of this opportunity. They now purchase gas from a Third Party Supplier instead of their utility.
This deregulation obviously saves a lot of money for the customers. The competitive marketplace allows for cheaper prices and better services; all of which are constantly improving so that companies can stay in the game. One company called Conectiv claims that this deregulation has ended up saving their customer’s rates by nearly 10 percent which amounts to nearly $300 million during 1999 to 2003.
More people have switched electricity providers than gas providers, but one company suggests that over 30,000 people have switched to third part gas companies. This might be because of how important electricity has been made out to be and how rigorously it is promoted. While all this money saving seems great on the surface, there are a lot of problems that lurk underneath. New Jersey residents who have switched from their utility to third party suppliers still have to deal with the state government’s questions pertaining to changes and questions about the deregulation of energy providers.
Even despite all the efforts by the state to deregulate and help save money and promote a free market of sorts, the worst part of all that is the fact that the market is incredibly unpredictable. Prices can go drastically up or drastically down in accordance with the weather, and it is not uncommon for the price fluctuation to cause a lot more harm than good when compared to the original fixed price of the utilities. Since the market can’t be predicted, and gas prices can go up or down drastically, this deregulation seems to not be doing as well as other energy deregulations.
The listing below is sorted by cities in alphabetic order.