Usource Reports Impressive Growth in Competitive Retail Electricity Market in NH
Hampton, NH (April 19, 2006): Usource disclosed today that New Hampshire's retail electricity markets have grown rapidly in the last four months, with major energy consumers across the state dropping utility transition and default service in favor of competitive supply offers at lower prices. Usource clients in New Hampshire, including major manufacturers, hospitals and various building operators, account for approximately 200 million kilowatt-hours per year or about 50 MW of electrical load which has migrated into the competitive market.
"The response of consumers and suppliers to the recent changes in energy markets in New Hampshire has been quick and sophisticated," said Todd Black, President of Usource. "The concepts and principles first laid out in state policy in 1996 have now been proven out and customers are pocketing the savings from competitive electricity transactions."
Among the customers making the recent transition to competitive supply is Concord Hospital. According to Ray Gerbi, VP for Facilities, "It took us a while to understand how this new market works, but Usource was instrumental in helping us understand the options, and the savings were compelling. It makes sense to me that large consumers can beat the average price offered by the utility by going to the competitive market."
New Hampshire's Amphenol TCS operations have incorporated the philosophy of competitive procurements into their business strategy. "We need to keep our costs as low as possible, and competitive sourcing of our New Hampshire electrical requirements through Usource is providing significant savings in our operating costs," said Frank Carroccia, Manager of Central Services.
Phillips Exeter Academy is also satisfied with the results they obtained in the competitive market. "Utilities have to provide one service suitable to everyone - we can choose options that are more suited to our particular needs," said Robert Kief.
"With fuel and electricity costs rising, the BIA is encouraging our members to explore competitive supply options through our Energy Buying Group powered by Usource," said Jim Roche, BIA president. "Competitive supply and demand-side management are two prudent ways for businesses to save costs and remain competitive."
Usource provides energy brokerage services to large energy users throughout the Northeast. Usource was recently ranked 2nd in the country in a national survey of retail energy channel partners. Among its more than 400 clients it numbers many Fortune 500 companies.
Usource is a wholly owned subsidiary of Unitil Corporation (AMEX: UTL), headquartered in Hampton, NH. Usource is an unregulated competitive energy affiliate of Unitil Energy Systems, Inc., the second largest local electrical distribution company in New Hampshire, and operates in NH pursuant to the Affiliate Rules of the New Hampshire Public Utilities Commission. For more information on Usource and the electricity markets in New Hampshire, call 603-773-6536 or e-mail us at Energydesk@usourceonline.com.
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