Amherst, NY - EnergyMark, LLC announced the purchase of certain New York and Pennsylvania assets of Constellation NewEnergy – Gas Division, LLC, a subsidiary of Constellation Energy Group, Inc., effective Feb. 1, 2010. EnergyMark is a partnership of South Jersey Energy Solutions, a division of Folsom, New Jersey-based South Jersey Industries and MW Energy of Amherst, New York. MW is owned by long-time energy entrepreneurs Gary Marchiori and Timothy Wright, both of whom have significant experience and expertise in providing natural gas service to the New York and Pennsylvania areas through previous stints with National Fuel, Texaco, and as co-owners of NOCO Energy Marketing. EnergyMark will emphasize the use of local natural gas production for retail and business consumers.
"With the tremendous growth of available, locally produced natural gas, direct supply of this resource will benefit the local economy and local energy consumer," stated Gary Marchiori, EnergyMark's president.
"We intend to take advantage of the resources provided from the prolific Marcellus Shale play, which is positioned literally underneath a consuming region,” noted Ken DePriest, Vice President of South Jersey Energy Solutions.
SJI, through its South Jersey Resources Group subsidiary, is a Marcellus Shale passive investor in production and a marketer with significant storage assets on the National Fuel Gas system. SJI also owns Open Flow Energy of Dubois, Pennsylvania, a natural gas producer and direct energy supply company serving northwest Pennsylvania that will assume operations for the Pennsylvania assets purchased from Constellation NewEnergy – Gas Division, LLC.
“The acquisition reflects a growing regional supply focus and interest in development of sustainable domestic fuel supply. The Northeast is the nation’s major consuming region, traditionally dependent on imported oil and long-haul pipeline fuel supplies,” explained Marchiori.
“Developing and utilizing the local energy supply will make our region not only self sufficient, but potentially a net exporter of natural gas," stated DePriest. “The economic benefits to the region can be seen in Pennsylvania, where areas have seen an economic resurgence in local jobs and tax base resulting from well drilling, pipeline construction and related industry investment.”
“This transaction reflects a significant combination of local energy entrepreneurs along with SJI, which will give the partnership significant financial backing while also maintaining a local hands-on approach to customer service. EnergyMark’s focus on the use of local fuel supply will bring the benefit of locally produced gas to the local consumer. Job creation for the region and lower energy costs are part of the long-term benefits from development of domestic energy supplies and EnergyMark will be on the leading edge of delivering this benefit to the consumer. This shortening of the “energy value chain” will bring supply from a 150 mile radius instead of from Western Canada and the Gulf Coast which is 1,500 miles away,” stated Marchiori.
MW Energy, Inc. formed in 2002 by Gary Marchiori, has been involved in several power and natural gas ventures including ownership of NOCO Energy Marketing, LLC which was sold by NOCO Inc. and MW to Constellation NewEnergy – Gas Division, LLC in 2006.
South Jersey Industries (NYSE: SJI) is an energy services holding company. A member of the KLD Global Climate 100 Index, SJI offers solutions to global warming through renewable energy, clean technology and efficiency. South Jersey Gas, one of the fastest growing natural gas utilities in the nation, strongly advocates the efficient use of energy while safely and reliably delivering natural gas in southern New Jersey. South Jersey Energy Solutions, the parent of SJI’s non-regulated businesses, provides innovative, environmentally-friendly energy solutions that help customers control energy costs. South Jersey Energy acquires and markets natural gas and electricity for retail customers, and offers energy-related services. Marina Energy develops and operates on-site energy projects. South Jersey Resources Group provides wholesale commodity marketing and risk management services. South Jersey Energy Service Plus installs, maintains and services residential and commercial heating, air conditioning and water heating systems, services appliances, installs solar systems, provides plumbing services and performs energy audits. For more information about SJI and its subsidiaries, visit http://www.sjindustries.com.
Constellation NewEnergy, Inc. and Constellation NewEnergy – Gas Division, LLC (www.newenergy.com), respectively, are leading competitive suppliers of electricity and natural gas, as well as energy-related services, to commercial, industrial and institutional customers throughout the United States. Subsidiaries of Constellation Energy Group, Inc. (NYSE: CEG), Constellation NewEnergy, Inc. and Constellation NewEnergy – Gas Division, LLC operate in competitive energy markets throughout the U.S., providing products that enable customers to effectively manage and control energy costs.
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