Constellation Energy Offering Residential Electricity Summer Savings to New Jersey Homeowners and Renters
BALTIMORE--(BUSINESS WIRE)-- Constellation Energy (NYSE: CEG), one of the nation's leading electricity suppliers, is offering residential electric consumers in northern and central New Jersey the opportunity to reduce their summer electricity rate by up to 10 percent.*
Constellation Energy will begin mailing the electric choice offers on Friday to 1.3 million homeowners and renters in the Public Service Electric & Gas (PSE&G) and Jersey Central Power & Light (JCP&L) service territories in New Jersey. The offer includes up to a $50 prepaid gift card for consumers who choose Constellation Energy as their energy provider and offers a fixed price for electric generation for the summer months (June - September), which is 10 percent lower than their utility's current summer electricity rate. The offer includes a separate fixed price for electric generation for the October - May period.
"We are pleased to offer a great summer deal on electricity savings to New Jersey consumers at a time when they face not only increased costs to keep their home cool but rising prices at the gas pump," said Kenny Matula, senior vice president of Mass Markets for Constellation Energy.
The summer electricity choice plan continues the initiative Constellation Energy began in September when it launched residential electric choice to consumers in the service territories of PSE&G and JCP&L. To date, more than 23,000 New Jersey residential consumers have signed up for Constellation Energy's electric choice plans.
PSE&G and JCP&L homeowners and renters may choose either a 12-month or 24-month pricing plan and save up to 10 percent on their June - September 2011 summer electric rates. Details on specific terms and conditions of Constellation Energy's residential electricity pricing plans for New Jersey customers are available at home.newenergy.com.
*Savings are calculated against each utility's published price of electric generation service as of 4/1/11 for rate class RS (Residential Service) customers for the 2011 summer months (June - Sept.) based on 1500 kWh usage each month and the 2011/12 period of October through May based on 1000kWh usage each month, which we adjusted to exclude the 7% sales and use taxes that we will separately assess. A customer's savings may be lower if it is not on the Residential Service rate class RS or if it's monthly usage is different. Savings estimates are through May, 2012. The utility prices also do not reflect the additional BGS reconciliation charge, which may be a credit or charge and is subject to change. Each utility's summer 2012 and winter 2012/13 rates are not yet available. Savings estimates are rounded. Constellation Energy's New Jersey Electricity Supplier License Number PSEL0016.
About Constellation Energy
Constellation Energy (www.constellation.com) is a leading competitive supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. It owns a diversified fleet of generating units, totaling approximately 12,000 megawatts of generating capacity, and is a leading advocate for clean, environmentally sustainable energy sources, such as solar power and nuclear energy. 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 $14.3 billion in 2010.
Constellation Energy
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Source: Constellation Energy