FRAMINGHAM, Mass. - Gulf Oil LP, a branded marketer of petroleum products, announced its entry into the retail electricity market via the launch of Gulf Electricity.
Beginning in Connecticut in March 2012, Gulf Electricity will offer residents and commercial customers the opportunity to save as much as 10 percent on the energy portion of their power bills by switching from their traditional utility suppliers. Compared to some high-cost third party suppliers, the savings could exceed 10 per cent.
"Our network of locations €" over 2,500 branded outlets, including our company operated Cumberland Farms convenience stores €" coupled with our expertise in sourcing and distributing energy efficiently, makes this expansion a natural complement to our existing businesses," said Gulf Oil President Ron Sabia. "Gulf€™s brand name has created trust for over 110 years. More than one million customers pass through a facility supplied or branded by Gulf every day."
"We are especially excited to be able to utilize our branded channels in this offering with our distributors and dealers who will have an additional opportunity to expand their sales and services to their customers," added Gulf Oil Senior Vice President and Chief Marketing Officer Rick Dery. "It is our intention to expand these sales and services beyond Connecticut, on a nationwide basis. Today we market transport fuels and our brand over 27 states."
There is no fee to switch to Gulf Electricity. Customers will continue to receive their bills from their current utility, which will continue to handle power delivery and repair services. Beginning in March 2012, customers can sign up with Gulf Electricity. The process takes less than five minutes and can be done by visiting gulfelectricity.com or by calling Gulf Electricity toll-free at 855- GULF- ELE (855-485-3353). Mail-in forms will be available at all participating Gulf branded stations. Only a recent electric bill is necessary to switch after comparing prices.
"There is no change in power quality or reliability. This is all about price, convenience of multiple outlets from a respected and trusted supplier, and price transparency," said Sabia. "In the future we plan to offer an expanded slate of products ranging from those that would allow a customer to fix the price of power or cap upside exposure to costs to being able to choose a specific power source such as solar or wind."
"The energy world is changing rapidly and while petroleum will be a big part of our energy mix for years to come as a company we remain fuel agnostic. We are committed to bringing our customers the least cost energy alternative that is safe, convenient and environmentally responsible and that will include not only petroleum and power, but natural gas in the near future," added Laura Scott, senior vice president of business development and finance.
In Connecticut, Gulf Electricity will be offered in areas serviced by Connecticut Light & Power and United Illuminating.