South Jersey Energy, a subsidiary of South Jersey Industries (NYSE:SJI), has purchased a retail marketing book of Pennsylvania customers from CenterPoint Energy Services of Houston, Texas.
Through this purchase, SJE has acquired a strong book of business that fits well with its northeast footprint. The purchase of these assets will firmly establish SJE’s presence in Eastern Pennsylvania, an identified area of growth for SJE’s energy commodity sales business.
The more than 1,000 commercial and industrial customers acquired through this purchase are primarily retail natural gas sales within the utility service areas of UGI, Columbia Gas of Pennsylvania, PECO Energy and Equitable.
This sale was made possible by significant changes in Pennsylvania’s competitive landscape. Natural gas production in the Marcellus Shale has expanded dramatically and the state’s electricity market is fully deregulated. This market supports SJI’s existing wholesale gas sales efforts in the Marcellus Shale.About South Jersey Energy South Jersey Energy acquires and markets natural gas and electricity to retail end users and provides total energy management services to commercial and industrial customers. SJE’s customers are primarily located in New Jersey, northwestern Pennsylvania and New England. For more information about SJE, visit www.southjerseyenergy.com.
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