As a New Jersey residential customer*, if you sign-up for service from a Third Party Electric and/or Natural Gas Supplier, you have the right to receive this one-page summary of your contract that summarizes the most relevant contract terms:
| Third Party Supplier Information: By entering into this contract, you are agreeing to purchase your electric/gas supply from this supplier. |
Name, telephone number, website, email, New Jersey mailing address and BPU license #. Plain language statement that TPS is responsible for your supply. |
| Price Structure | Fixed, or variable. If fixed then variable, indicate the time frame of the fixed rates. If variable for any portion of the contract, state whether or not there are any applicable ranges/ceilings and whether a price change is tied to a published index or the utility Price to Compare, or what other method the supplier will use to change the variable rate. |
| Generation/Supply Price | Cost per therm or kilowatt hour. If variable rate, the first billing cycle’s rate. Any introductory rate with length of term. |
| Statement Regarding Savings | Plain language that the supply price may not always provide savings to the customer. If the contract provides for a specified level of savings, how that will be calculated (description of reference price). |
| Amount of time required to change from TPS back to default service or to another TPS | Provide an estimated time frame in which a consumer can expect to be switched back to the EDC/GDC or to another TPS if the consumer cancels service with the current TPS - 30 days, one billing cycle, etc. |
| Incentives | Any bonus, discounts, cashback, offers. etc., and any associated terms, in plain language. |
| Right to Cancel/Rescind | Plain language statement that customer will have seven calendar days from the date of the LDC’s confirmation notice to contact its LDC and cancel this contract. |
| Contract Start Date | Plain language regarding expected start of TPS service (meter reads/billing cycles/etc.) |
| Contract Term/Length | In months, billing cycles, or provide exact end date, etc. |
| Cancellation/Early Termination Fees | Yes or no. If yes, describe the amount of the fee and how to avoid that fee, if possible. |
| Renewal Terms | Explain what the customer’s options are at the end of the contract in plain language. Also explain what happens at the end of a contract when affirmative consent is not obtained for renewal. |
| Distribution Company Information | Name, emergency and toll-free customer service telephone numbers, and website. Plain language statement that the GDC/EDC will continue to deliver the gas/electric and that the customer will continue to pay the GDC/EDC for this service. Plain language statement that the customer should call the GDC/EDC in the event of any emergencies/outages/etc. |
The TPS Contract Summary must be provided in English and Spanish, include an explanation of fixed and variable rates, and explain how wether may affect variable contract.
*Any residential customer or commercial electric customer with a cumulative peak load of 50 kilowatts or less, or a commercial gas customer with a cumulative peak load of 5,000 or less therms.
