Electric wholesale prices to rise by 9 times overall since end of Winter 2014
We ask “what is going on with electric prices?”
PJM is essentially the wholesale market for electricity in ComEd. They will request bids from generators (electric generator owners) every year for the next three years. PJM issued a press release announcing the results of their most recent auction.
The press release shares some interesting highlights such as “increased diversity” even though they acknowledge the trend to more gas-fired generation.
However, the bigger issue is that the cost of the bids increased dramatically over the next year, rising from $27.73 in 2014 to over $136 by the end of 2015. This nearly 900% increase will be passed thru to all retail customers. We have already seen about 50% of this increase.
This projected increase does NOT appear to be directly related to the winter “vortex” of 2014. However, given the timing of PJM’s bid (just after winter) and the trend to more gas-fired generation, some link shouldn’t be dismissed. Last winter reminded energy traders, power generators, utilities, and energy marketers of the extent of their reliance on certain pipelines. The demand on these pipelines is increasing (by both gas-fired electrical generation and through population growth). Therefore, as the wholesale price increases, we will be starting at a higher price next winter. If winter or summer weather spikes, we could see even greater pricing than last winter.
Realgy offers fixed pricing to reduce the effect of seasonal weather by offering a winter or summer fixed price. This allows our customers to avoid paying a premium for a fixed price when they don’t have to. Please call your Energy Broker or see our PriceWatchTM service at http://realgyenergyservices.com/request-for-service/pricewatchtm/
Read the full PJM press release, “PJM Capacity Market Secures New And Diverse Resources To Meet Future Electricity Demand”.
The City of Northville has accepted a bid from Realgy Energy Services to supply natural gas
PRESS RELEASE 17 MAY 2013 | By: Realgy, LLC
Realgy Energy Services has won a bid to supply the City of Northville with natural gas through the Michigan utility Consumers Energy.
On Monday May 6th the City Council of Northville approved a bid placed by Realgy Energy Services to supply natural gas to the city. Realgy Energy Services out bid two other competing companies for the right to supply the city with natural gas.
The City of Northville started exploring the possibility of finding a lower cost alternative gas supplier in April. The City Council sent a request for proposals to seven alternative gas suppliers, all licensed with the Michigan Public Service Commission and also certified to operate in the Consumers Energy territory.
Out of the seven alternative gas suppliers, the top three were Options Utility Consulting, Xoom Energy, and Realgy Energy Services. By contracting with Realgy Energy Services, the City of Northville will save approximately 19% or $7,592.70 per year, based on their usage from last year and an average cost of $4.03/MCF. Realgy Energy Services will provide natural gas to the City of Northville, city employees and city employee family members for the term of the contract.
Realgy Energy Services is comprised of a group of people who worked for many years with large utilities, energy service companies, and energy marketers. Within these organizations, they saw the limitations of the systems and software and decided they could provide a more efficient service. First formed in 1999, Realgy Energy Services today is a retail energy marketer and wholesale energy provider in three deregulated states, Michigan, Indiana, and Illinois with plans to expand. Realgy has had a perfect record (certified A+) with the Better Business Bureau; http://ct.bbb.org since 2003 and has been recognized as an Inc 500 | 5000 company in 2011 and 2012. http://www.inc.com/inc5000/profile/realgy
Contacts:
Realgy, LLC
Michael Vrtis
675 Oakwood Avenue
West Hartford, CT
860-233-2270
www.realgyenergyservices.com
Realgy Energy Services Facebook promotion leads to donation to the Food Bank of Northern Indiana
PRESS RELEASE 18 MARCH 2013 | By: Realgy, LLC
Realgy Energy Services Facebook fans chose to donate to the Food Bank of Northern Indiana
In October 2012, Realgy Energy Services ran a promotion on its Facebook page for fans to decide which charity to donate $1 for every Facebook “Like” during November and December 2012. Among the selected charities was the Food Bank of Northern Indiana, which won by a landslide. “Thanks to our Facebook fans, Realgy will be donating $116 to the Food Bank of Northern Indian, a very deserving charity in our service territory,” says Michael Vrtis, President, “This promotion has not only increased our fan base by 116 likes but will also be making a difference in the lives of those that rely on the Food Bank.”
Picture courtesy of The Food Bank of Northern Indiana
The Food Bank of Northern Indiana has been feeding the hungry since 1993 and working with the community to increase awareness of the effects of hunger. “We appreciate innovative ways businesses and organizations like Realgy Energy Services help us feed the hungry in Northern Indiana,” says Marijo Martinec, Food Bank of Northern Indiana, Director of Community Impact. She added, “Thanks to all the individuals who “Liked” Realgy Energy Services on behalf of the Food Bank!” A donation of just one dollar can provide up to eight meals for those in need.
A group of people who worked for many years with large utilities, energy service companies and energy marketers came together to found Realgy Energy Services in 1999. Within these organizations they saw the limitations of the systems and software and decided they could provide a more efficient service. Today Realgy Energy Services is a retail energy marketer and wholesale energy provider in three deregulated states Michigan, Indiana and Illinois with plans to expand. Realgy has had a perfect record (certified A+) with the Better Business Bureau; http://ct.bbb.org since 2003 and has been recognized as an Inc 500 | 5000 company in 2011 and 2012. http://www.inc.com/inc5000/profile/realgy
A Big thank you to all of our Facebook Fans for helping Realgy Energy Services make this generous donation!
Realgy Energy Services Now Offering Natural Gas Services to Residential Illinois Customers
PRESS RELEASE 21 SEPTEMBER 2012 | By: Realgy, LLC
At their customers’ request Realgy Energy Services is now serving Illinois residential natural gas customers.
The president of Realgy, Michael Vrtis has announced that the Illinois Commerce Commission has given authorization to extend service to residential customers in the North Shore, Peoples, and Nicor service territories. Realgy was previously authorized to service only retail commercial natural gas accounts in Illinois.
“Our expansion into the residential natural gas market is the next logical step in Realgy’s plans to expand service to our customers in the Illinois energy market,” said Vrtis. “It’s the perfect complement to extend our existing Illinois electric service. This expansion will give all residential and commercial customers in Illinois a chance to save money on both their natural gas and electricity.”
Realgy Energy Services is an energy marketer serving retail and residential customers in Indiana, Illinois and Michigan. They have been serving Illinois customers beginning in 2004; since that time they have had a perfect record (certified A+) with the Better Business Bureau; and have been recognized as an Inc 500 company in 2011 and 2012.
Contact:
Realgy, LLC
Michael Vrtis
675 Oakwood Avenue
West Hartford, CT
860-233-2270
www.realgyenergyservices.com
Realgy has Exceeded the Agreements of the Small Businesses Express Program Eight Months Early
PRESS RELEASE 12 september 2012 | By: Realgy, LLC
Back in May 2012 Gov. Malloy announced Realgy Energy Services as one of five Connecticut small businesses that had qualified for assistance through the state’s Small Business Express Program (EXP).
Today the President of Realgy Energy Services Michael Vrtis has announced that the West Hartford Company successfully exceeded the requirements eight months early. “Realgy has exceeded the agreements of the Small Business Express Program,” said Vrtis, “We have hired nine new employees as of August 2012 which far exceeds the original seven outlined in the agreement.”
Excerpt from the May 2012 CT Press Release “[Realgy] will retain 13 employees, and hire 7 new positions in the areas of customer service, energy brokerage, and information technology” http://www.ct.gov/ecd/lib/ecd/press_releases/2012/small_businesses_express_program_is_helping_ct_companies.pdf
A grant of $59,500 was awarded to Realgy as part of the Small Business Express Program, combined with company funds of $309,800, to invest in employee training, computer equipment and software, marketing and contractual services.
Realgy Energy Services was founded in 1999 by individuals who worked for many years with large utilities, energy service companies and energy marketers. Within these organizations they saw the limitations of the systems and software. Today Realgy Energy Services is a retail energy marketer and wholesale energy provider in three deregulated states Michigan, Indiana and Illinois with plans to expand. Realgy has had a perfect record (certified A+) with the Better Business Bureau; since 2003 and has been recognized as an Inc 500 | 5000 company in 2011 and 2012
Contact: Realgy, LLC Michael Vrtis 675 Oakwood Avenue West Hartford, CT 860-233-2270 www.realgyenergyservices.comRealgy Energy Services has qualified for the Connecticut Small Business Express Program
Last Thursday May 24, 2012 Governor Malloy announced that five Connecticut small businesses had qualified for assistance through the state’s Small Business Express Program. The program was created as a part of the Jobs Bill passed last year, to encourage Connecticut business expansion and job growth.
“I am very pleased to announce that Realgy Energy Services was one of the five Connecticut businesses that qualified for assistance under this bill.” Stated Michael Vrtis President of Realgy Energy Services “I would like to give credit to the state of Connecticut for making this program available. It is competitive to programs in other states and has encouraged Realgy Energy Services to stay in Connecticut and continue to grow and expand.”
Realgy Energy Services is combining company funds of $309,800 and a matching grant of $59,500 to invest in computer software and equipment, employee training, marketing and contractual services. Realgy will also hire 7 new employees, which will more than double the existing work force of 13.
“Realgy’s plan to increase its workforce by 50 percent with the help of this state grant is proof positive that Connecticut is committed to helping local businesses grow and thrive,” State Senator Beth Bye (D-West Hartford) said.
“This is the result of our jobs bill walking the talk,” State Representative Joe Verrengia (D-West Hartford) said. “Not only are we saving existing jobs in West Hartford, but we’re creating new jobs and providing the training and infrastructure to make these jobs last.”
Read the official Press Release from the State of Connecticut