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NJ Apartment Association Lower Your Energy Spending!
Lower Your Energy Spending!
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The New Jersey Apartment Association endorsed The Legacy Energy Group to provide gas and electric procurement services to its members and associate members in New Jersey and surrounding states. Legacy Energy is an independent consulting firm and is not affiliated with any electric or gas supplier. For more information on The Legacy Energy Group and its relationship with NJAA, please contact Executive Director, Jean Maddalon by e-mail or Michael Housley at The Legacy Energy Group by e-mail.
Opportunity to Reduce Natural Gas and Electricity Expenses
Electric:
As noted earlier this year, members with properties behind PSE&G, JCP&L, and Atlantic City Electric continue to have an opportunity to purchase power from 3rd-party suppliers at prices significantly below their comparable utility tariff rate.
This opportunity exists because
• current wholesale electric prices are at historically low levels, and
• utility rates will remain at historically high levels through May 2011
The high rates are a direct result of NJ regulations which require utilities to hold an annual auction to purchase 33% of their forecasted power requirements for three year terms. High price contracts resulting from the 2008 and 2009 auctions will continue to impact NJ rate payers through May 2011. Power prices that resulted from the 2010 auction were nearly identical to the 2007 power prices that expired in May 2010. As a result, current New Jersey utility electric prices (from June 2010 – May 2011) are virtually unchanged from last year’s rates and hence provide this excellent savings opportunity.
Natural Gas:
Natural gas commodity futures prices are providing an excellent opportunity for members to lock in prices that are well below the most recent six-year averages. In addition to these historically low commodity prices, natural gas transportation prices are also well below their recent levels.
Click here for a table that shows the September 2010 through August 2011 monthly price of natural gas as it is trading today versus the most recent six-year average monthly price. For those members interested in the budget certainty that these historically low natural gas prices can provide, now may be an ideal time to consider partially or fully locking-in your near-term natural gas supply costs.
NJAA’s Lower Energy Spending Program allows members to take immediate advantage of today’s very attractive energy markets. Participating members will work directly with our energy consultant, The Legacy Energy Group (Legacy Group), to obtain and analyze energy supply offers and contracts. Since 2003, NJAA has exclusively endorsed Legacy to develop and implement energy procurement members’ properties. Over the last 12-months, Legacy has placed over 1,000 member-owned electric and natural gas accounts with third party suppliers, resulting in significant (and much needed) savings.
How do I begin?
To initiate a free, no obligation analysis of your energy portfolio, simply contact the LES Program manager (see below) to begin a formal review:
Legacy Energy
Email: njaa@legacyenergy.com
Toll Free Telephone: 888-351-0981
Disclaimer: This report is provided as a service to Legacy Energy’s clients and prospective clients. Legacy Energy does not guarantee the accuracy of the information in this report and users who rely on this information and the recommendations contained herein do so at their own risk, without recourse to The Legacy Energy Group, LLC, its officers, or affiliates.
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Author: The Legacy Energy Group
Release Date: 5/7/2010
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