Palmco Energy
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In August of 2012 Palmco Energy solicited me to join their company with the promise of saving me money each month on my energy bill. I was told the rate could be variable but it would always be 12¢ kilowatt lower on the electricity and 3¢ thermo watts lower on the gas compared to PSEG’s rate.
I signed a contract and received my first bill in October 2012. I had saved an average of $11.50 for the months of October and November.
After November my bill was enormously higher in price then what PSEG would have charged me. I evaluated ever bill to date and realized Palmco is running a misleading SCAM! To date I am out over $600.00 dollars compared to what I would have been charged by PSEG.
I called Palmco and spoke with a representative named Valerie At the Brooklyn Office extension 8503. All she would agree to give me was $100.00 dollar credit. She kept insisting, “You signed the contract.”
The contract represents a vague and misleading interpretation of the word “vary”. Due to the fact that their soliciting agents use the same term “vary” during there persuasive negotiation process but attaches the implications that it won’t go higher then PSEG variable rates. This is FRAUD! And misleading. I expected honest and good faith bargaining and transactions based on what I was being told.
Palmco also told me that the BGS fee on my current bill was a fee I would no longer have to pay. The BGS is “The Basic Generation Service” charged by PSEG. It’s consumption x’s rate. Palmco told me BGS was a 3rd party distributor and if I switched to Palmco I wouldn’t have to pay that fee any longer. PSEG informed me that the BGS is a rate charged to each customer for consumption x’s PSEG rate
Palmco states, “We treat you Like Family.” I would hate to be an enemy. They have numerous complaints online regarding what they say and what one signs. This is manipulation and leaves customers vulnerable to underhanded business tactics that Palmco embraces.
I am writing the State of New Jersey Board of Public Utilities, Better Business Bureau, Attorney Generals Office for Consumer Frauds and Protection Bureau in NY/NJ and The Federal Energy Regulatory Commission.
This company needs to be investigated for illegal business practices. This type of practice can cause more financial harm to more individuals and society.
Palmco Energy corporate office is in Brooklyn NY but has an active agent/corporate trust on behalf of their company at 360 South Broad Street, Trenton NJ. 609 826-9800