An Energy Service Company, commonly referred to as ESCO, is a licensed company that can purchase electricity and natural gas for customers. ESCOs, also referred to as third party supplier, operate in deregulated markets. ESCOs take over the Supply section of a customer's utility bill. You will still be a customer of the Utility, as the utility will be in charge of the delivery of energy and maintenance of the customer's meter and wires. .
ESCOs are able to offer customers a variety of plans and pricing, allowing customers flexibility and control over their energy usage and billing. Utilities can only offer customers one product, a variable rate.
ESCOs generally watch the market closer than utilities allowing them to purchase electricity and natural gas more frequently and at lower costs. In turn, ESCOs can potentially pass these generally lower rates on to their customers.
Deregulation allows customers a choice of who they would like to supply their energy services. Customers can choose to have an ESCO supply them with electricity and/or natural gas or have their Utility supply them .Deregulated markets allow customers to choose from a variety of products and also motivates suppliers to differentiate their products and offer competitive rates in the marketplace.
The utility handles any outages or problems with your service. All emergencies should be directed to your Utility
You have 72 hours to cancel a contract with an ESCO. After the 72 hour period you will be subject to the terms of the ESCO's contract and possibly eligible for a termination fee. This varies from company to company.
No, Premier Empire Energy does consolidated billing. Meaning you will continue to receive only your Con Ed bill. Premier's charges will appear on the Con Ed bill under the Supply Detail section.