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Updated: PSEG Confirms Wind Down Of Retail Supply Business

October 11, 2018

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Note: This story was first published on Oct. 11 with an alert to our email subscribers

PSEG has confirmed to EnergyChoiceMatters.com a wind down of its competitive retail energy supply business, PSEG Energy Solutions (an indirect subsidiary of PSEG Power)

The wind down had been first reported by RetailEnergyX.com

In a statement, a media representative for PSEG stated: "PSEG Power entered the business-to-business retail electric market two years ago to complement our wholesale business by providing additional hedges for our generation. While we have had moderate success in this market, we have concluded that retail electric marketing will not provide a material enhancement to our hedging activity. Energy Solutions will therefore stop taking on new customers, effective immediately. However, we will continue to meet all of our obligations to our existing customers through the end of their current contracts."

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