PHILADELPHIA, March 6, 2003 — electricAmericaâ„-, an electric supply retailer, has been awarded 49,172 small commercial customers through the Market Share Threshold (MST) Bid/Assignment process implemented by PECO Energy, an electric and natural gas utility serving southeastern Pennsylvania.
The MST process was part of PECO’s 1998 restructuring settlement, which required nearly half of their electricity customers to be randomly assigned to competitive electric generation suppliers if less than 50 percent had selected an alternate supplier by Jan. 1, 2003. As of the first of this year, less than 8 percent of PECO’s electricity customer base had chosen an alternate supplier.
The small commercial customers assigned to electricAmerica will be randomly selected from PECO default customers. Such customers will receive two notices and the opportunity to opt out and remain with PECO.
“We are encouraged by the results of the MST assignment and look forward to serving these new customers,” stated Dick Paulsen, Chief Operating Officer for electricAmerica. “These businesses are very fortunate, as they will now pay less for electric supply and enjoy the benefits of electricAmerica’s first-rate customer service.”
With this assignment of nearly 50,000 customers, Philadelphia becomes electricAmerica’s largest market, both by number of customers and volume of electricity served. Previously, electricAmerica served approximately 38,000 business and residential customers in the PECO territory.
“Prevailing in this bid process validates electricAmerica as a significant participant in the Philadelphia energy market,” said Ian Carter, Chairman and CEO of Commonwealth Energy, the parent company of electricAmerica. “We are one of the very few suppliers that have the systems and expertise to immediately assimilate and service such a large number of electricity customers. I congratulate our management team and employees for this noteworthy achievement. In addition, I would like to welcome Philadelphia businesses to electricAmerica, where customers always enjoy ‘The Power of Savings’.”
Since 1998, electricAmerica has saved its customers millions of dollars in electric supply costs. With a successful track record in multiple U.S. markets of supplying electricity priced below utility rates, electricAmerica clearly understands the needs of today’s energy customers.
electricAmerica is licensed by the Pennsylvania Public Service Commission as an Electric Generation Supplier and is a recognized leader in the deregulated energy marketplace, offering retail electricity and energy efficiency products and services. The Company provides retail electric supply to the Philadelphia, Pennsylvania, Detroit, Michigan and California markets. electricAmerica is the brand name for Commonwealth Energy Corp., which is licensed by the Federal Energy Regulatory Commission as a power marketer.