Reduce Energy Costs: Increase Your Buying Power

Energy costs have become a hot topic in the NJ manufacturing sector. When it comes to energy, companies are finding it difficult to combat increasing costs. They need to find innovative ways to reduce energy prices.

A key way to minimize energy costs is to increase your buying power. NJMEP has a brand new program called the Pro-Action: Energy Alliance Program to help NJ manufacturers accomplish this. The program is designed to:

• Increase all participants buying power for electricity
• Create greater negotiating strength for members
• Help manufacturers achieve lower electricity pricing than they could on their own

In a nutshell, the program allows members to aggregate their energy purchases with other NJMEP members in the program. The benefit – it allows participants to “buy in bulk” so to speak, enabling them to get wholesale pricing.  The design allows members to increase their buying power.

More about the Program

NJMEP is partnering up with Concord Energy Services, a licensed Energy Agent, Energy Consultant and Private Aggregator with the Board of Public Utilities of New Jersey, to deliver the program. Concord will provide contracting strategies and solutions to the Alliance. This will create the needed leverage for manufacturers looking to reduce energy prices. Our goal is to secure the most favorable terms and conditions on behalf of the participating members.

When we discuss energy issues with NJ manufacturers, we sometimes hear comments like, “I should just manage this on my own.” As you look at your next energy bill and think this is something you want to pursue independently, ask yourself the following questions:

• Do you have the skills of an engineer, attorney, purchasing manager, commodities trader, or public utilities manager? How about the budget to hire all of them?
• Do you have the collective experience of more than a thousand energy contracts?
• Do you understand how pending regulatory changes will affect your contract?
• Have you checked the PUC complaints, financial integrity, and hedging practices of each of the energy companies?
• Would you buy a home, plan your retirement, or go to court without the services of a professional?

If you’re interested in the program, we are currently in an open enrollment period set to expire October 11, 2013.

Click here for more information and to join or contact Bob Salamone at rsalamone@njmep.org or 973-998-9801 with any questions.