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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
 
Joined:
2005/7/13 15:03 Last Login : 2023/6/11 23:48 From Western Slope
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Does anyone really have to be told about this. PSE&G still handles the lines and grids out there so I'd rather them handle the billing as well. They even took over LIPA which is a large utility company. Stay away from these small potatoes.
Posted on: 2014/3/11 16:32
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Get on your bikes and ride !
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Newbie
 
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Beware of Xoom Energy as well! Had a "friend" involved in the ACN scam get me signed up (as a favor to them). After the 3 month period my rate was 5x that of PSEG. SCAM!!!
Posted on: 2014/3/11 14:04
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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From the article:
About 500,000 of New Jersey?s more than 3.3 million electric customers ? 16 percent ? have switched to third-party providers, which are licensed but unregulated entities. Unlike the state?s four major electric utilities, Public Service Electric & Gas, JCP&L, Atlantic City Electric and Orange & Rockland Electric, unregulated suppliers are not required to purchase long-term energy contracts, which insulate residential customers from sharp price fluctuations. This winter?s bitter cold has meant record amounts of natural gas being burned for heat and electricity, straining drillers to produce enough to keep up with the high demand, and pushing prices higher. New Jersey customers who had been enjoying modest savings on their monthly electric bills through third-party providers suddenly got slammed with 200 percent increases or more. They were not happy. Read the terms of your agreement. If you buy a variable price plan that is dependent on the spot market, you run the risk of getting slammed by major increases in your bills. However, if prices decline, you will benefit immediately. Choosing a third part supplier is fine, just do it to lock in a long term price. Long term contracts insulates you from price fluctuations. You might however, end up paying more if gas and electric prices decline. If prices go up (like gas has recently), you will make out pretty well.
Posted on: 2014/2/23 20:19
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
Joined:
2012/1/11 18:21 Last Login : 2019/12/26 15:30 From GV Bayside Park
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Frigid winter sends electric prices soaring for NJ customers who switched power suppliers
Eric Jung vowed he wouldn't get fooled again. After switching to a third-party electricity supplier that lowered his monthly bill before eventually raising prices, Jung studied up on the topic. He finally settled on Fairview-based Systrum Energy, which had a good track record of low rates. And, unlike his previous third-party supplier, didn?t require a long-term contract. Since July, the Whitehouse Station resident had been saving about $20 a month, or 15 percent, on his electric bill. But January?s polar vortex changed all that, as frigid temperatures sent prices soaring for thousands of New Jersey customers like Jung, whose alternative energy suppliers purchase electricity on the volatile spot market, which is subject to daily price shifts. ?When I got the bill, I was just in shock,? Jung said. Read More Alexi Friedman/The Star-Ledger
Posted on: 2014/2/23 15:02
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
Joined:
2011/12/12 0:13 Last Login : 2018/7/28 23:29 From Right here!
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847
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Quote:
After a couple of phone calls & speaking to a very rude woman my brother was able to get a copy of the letter that Smith's office allegedly sent out to everyone in Bayonne. There was nothing remarkable about the letter, it just explained that for the next 2 years everyone could get a better rate, etc & at the bottom was a section to fill out & mail back to City Hall if you didn't want to change carriers. I wonder how many people received this letter & actually opened it. The return address was from City Hall & given the fact that Smith is seeking re-election it is quite possible that people just tossed the letter thinking it was campaign literature.
Posted on: 2014/2/15 2:03
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Not too shy to talk
Joined:
2014/1/23 10:50 Last Login : 2018/2/20 16:05 From Jersey City
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These third party utilities suppliers preys on the elderly and less informed customers. They are the little ""Enrons"that call you day and night on the phone touting the benefits of their plan by giving you a better rate than PSEG.
Although you still get your bill from PSEG they will not show the details of the plan used by the third part except a one line statement who your third party vendor is and too often that name is different from who you had contracted with. Few years ago, I was also take in and when I found out about the scam it was quite a hassle calling PSEG to send you a copy of their rate plan. It also took some effort , signing off authorization papers , etc in order to unleech from them when the contract becomes due. The contract automatically renews if you do pay attention. For some people they will save some money but for most of us its not worth the hassle. The story about the Mayor of Bayonne supporting such energy choice plan is interesting. Who knows ? You need to study this before committing yourself. On a side story we had a former mayor of Jersey City touting the benefits of reverse mortgages. Celebrities supported it on TV. For me its another way to strip from seniors, depending on how you see it.
Posted on: 2014/2/15 0:45
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Gas is likely to get more expensive....
USA to begin http://www.cnbc.com/id/101407670?__so ... Louisiana+terminal+gets+O" rel="noopener external" title="">exporting gas from the lower 48: The Department of Energy on Tuesday granted conditional approval to a terminal to ship liquefied natural gas abroad, the fourth facility in a year to receive the government's green light that puts the U.S. a step closer to becoming an energy exporter. ------------ However, the department said the terminal must clear another environmental review before exports could begin. The facility, located in Hackberry, La, will eventually be able to export up to 12 million tons per year?or about 1.7 billion cubic feet per day?of natural gas, Sempra said in a release.
Posted on: 2014/2/12 14:54
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Sounds like Systrum is buying electricity on the spot market or via very short term contracts. So during heavy use periods, you can get hosed on your bill. $0.28 / kWh is what people in Germany and Puerto Rico pay.
My $0.02 worth of advice: If you are going to switch suppliers do it because you want to lock in a long term fixed rate. With gas you might end up paying a little more, but I don't see prices dropping much below where they are now. Natural gas prices have to be over $5 per million Btu before its worth it to drill more gas wells. Most new drilling has been focusing on natural gas liquids (i.e. ethane) and oil. With electric, rates have really gone up. There are no good deals out there, but I have seen locks periods as long as 5 years. The EPA moves may eliminate 20%+ of the available generating capacity from coal, forcing a LOT more natural gas usage (if the capacity is even available). If gas prices rise, so will electrical rates. So if you want to hedge your energy expenses, you might want to lock in something under $0.12 per kWh for as long as possible. Wind and solar power accounted for 0.48% of all electricity generated in the state in 2012 (from the EIA). So don't put your hope in them filling the gap.
Posted on: 2014/2/11 18:00
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Someone at my condo complex shared the following, which I guess the CEO sent on 1/31:
"Dear Valued Customer, As always, our prices are determined based on current market conditions and more specifically, the costs we incur to purchase the power we provide to our customers. We are constantly searching for and procuring the lowest wholesale costs for the electric we provide and based on those efforts, have been able to pass those savings along to you. Unfortunately, electric pricing is greatly influenced by weather conditions and corresponding demand. Due to the record level cold spell caused by the polar vortex that has blanketed the U.S. for such a long duration, components that make up electric pricing have forced the generation facilities to greatly increase the wholesale power rates. This in turn has increased our costs to levels not seen in many years. Accordingly, these increases have resulted in us having to charge our customers higher rates than they have seen in recent months. Outstanding customer support and loyalty is our top priority and we will strive to continue to use our best efforts to procure the most cost efficient energy in order to allow us to continue to provide the best pricing possible to our valuable and deserving customers. We appreciate your understanding in these difficult times and thank you for your loyalty and trust. There are a number of articles available to explain what we are describing. Here is an example of one. "
Posted on: 2014/2/11 17:05
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Newbie
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Has anyone been able to get in touch with Systrum? I called them but there is no one to pick up the calls. I get a VM.
I emailed them today to find out why am I bill such a high rate. I got billed at 28cents/kwh times that by 2601 KWH.
Posted on: 2014/2/11 16:58
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Thx MDM!
Quote:
Posted on: 2014/2/6 2:27
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
Joined:
2011/12/12 0:13 Last Login : 2018/7/28 23:29 From Right here!
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847
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Here is one for the books for you.
Friday night my brother, who lives in Bayonne, receives a letter from PSE&G welcoming him to the New Jersey Energy Choice program. The letter goes on to say that effective February 21 his new energy provider would be TriEagle Energy, LP out of Woodlands, Tx. If you didn't want the service you were to call within 7 days of the date of the letter. We called PSE&G & asked what this was about as my brother hadn't spoken to anyone & we thought he was being slammed. The young lady on the end of the phone said that Mayor Smith requested this potential change on behalf of the residents of Bayonne. The nerve of the man! I wonder how many people in Bayonne are aware of this at all.
Posted on: 2014/2/6 1:24
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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I also had Stream energy for a fixed gas price:
https://secure.streamenergy.net/nj_rates.asp?CO_LA= After months of estimated bills (PSE&G handles the billing) I got nailed with a trued up bill that I wasn't able to pay right away. Stream then dropped me, which actually worked out well. PSE&G gave a special gas rate credit late last year which given the cold weather, saved me a fair amount of $$$. http://www.pseg.com/info/media/newsreleases/2013/2013-10-23.jsp
Posted on: 2014/2/5 20:52
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Commerce Energy
3 year fixed at $0.0925 per kWh (PSE&G is running about $.11 per kWh). i have a little over a 1.5 years left on my contract. No problems with billing. I avoid variable rate plans because PSE&G is already variable rate. Plus I am really concerned that the new EPA rules are going to send electrical rates to the moon, so I tried to lock in a rate as long as possible. Best I could do was 3 years.
Posted on: 2014/2/5 20:45
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Which company did you go with?
Have you had any issues with them? Quote:
Posted on: 2014/2/5 20:27
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Re: WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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Its not all bad choosing your own supplier. I locked in a 3 year price at under $0.10 per kWh. Its saved me a few hundred $$ so far.
Posted on: 2014/2/5 20:17
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WARNING: do not use systrum energy as your util supplier - SCAM
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Home away from home
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I switched from pseg to systrum energy ( http://www.systrumenergy.com/ ) a few months ago as my electricity supplier, at the time the company promises a slightly lower rate than pseg and looks like a well run legit family business with no bad reviews.
Then for Jan, they jacked up my electricity rate by 400% without any notice or explanation when the market rate hasnt changed much. My bill for supply went from ~$80 to $350 for Jan (delivery from pseg still remains the same ~$70). A little google later, it turns out many people got scammed as well. Looks like their tactic is to sucker everyone in then do a big bang scam for 1 month, pulling 2-4x the normal rate. After that they dont care if you leave or not. I will be filing with bbb etc...this is just a fyi if anyone is looking to sign up with systrum, dont. My advise is to stay with pseg and not get suckered into those scams, NJ deregulated electricity supplier, so you got all those shady outfits popping up sucker people in then rip them off hoping the customers not notice.
Posted on: 2014/2/5 19:02
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