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FRAMINGHAM, Mass. -- Gulf Oil LP is making an entry into the retail electricity market through the launch of Gulf Electricity. Beginning in Connecticut this March, the new entity 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 to Gulf.
"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," Gulf Oil President Ron Sabia said in a news release issued today. "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."
Gulf Oil's Senior Vice President and Chief Marketing Officer Rick Dery said the company is especially excited to be able to utilize its branded channels in this offering, enabling its distributors and dealers to have an additional opportunity to expand their sales and services to their customers.
"It is our intention to expand these sales and services beyond Connecticut, on a nationwide basis," said Dery. "Today, we market transport fuels and our brand [in] over 27 states."
In Connecticut, Gulf Electricity will be offered in areas serviced by Connecticut Light & Power and United Illuminating. There will be no fee for customers to switch. They will still receive bills from their current utility, which will continue to handle power delivery and repair services. Customers can begin signing up with Gulf Electricity in March. The process will take less than five minutes and can be done by visiting www.gulfelectricity.com or by calling toll-free at 855-GULF-ELE (855-485-3353). Mail-in forms also will be available at all participating Gulf branded stations, according to the announcement.
"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," Sabia said. "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."
Gulf Oil Limited Partnership is a national, branded supplier of motor fuels throughout the United States and its territories. It distributes motor fuels through a network of more than 2,500 branded gasoline retail centers, 12 proprietary oil terminals, and more than 130 other supply points. Gulf Oil also supplies gasoline, heating oil, diesel fuel, jet fuel and kerosene through its terminal network.