Gulf expands electricity service to New York
Framingham-based Gulf Electricity announced Wednesday it will expand its consumer and small business electric service to the five boroughs of New York City and Westchester County.
The move will bring the Gulf Oil subsidiary into competition with Con Edison, the regulated utility for the New York metro area, as well as a couple dozen other energy service companies (ESCOs). Con Ed will remain responsible for the transmission and distribution of all electricity in the area, whether it's supplied by Con Ed, Gulf or another ESCO.
Gulf said it will offer a fixed annual electricity rate that is both cheaper and more predictable than Con Ed, whose rates fluctuate daily and spike during periods of high demand.
Gulf said it plans to expand in the coming month into much of Upstate New York, which is serviced by four different utility companies.
“New York residents already know and trust Gulf’s brand name from our 110 year history,” Rick Dery, senior vice president and chief marketing officer, said in a statement. “We are very excited to be entering the…market, and look forward to providing savings to thousands of people throughout the Empire State.”
Gulf Electricity launched in January 2012, and currently serves residents and small companies in Massachusetts, Rhode Island, Connecticut, New Hampshire and Maine. Gulf also began nationwide commercial and industrial fuel supply services last month.
Updated at 3:05 p.m. to clarify the difference between a regulated utility and an energy service company
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