CHICAGO, June 21, 2012 (GLOBE NEWSWIRE) -- Power2Switch, the company that brings awareness of energy deregulation and enables residents to reduce energy costs by switching electricity providers, today launched its services in the state of New Jersey. The company's website educates consumers about retail electricity and enables electricity customers to comparison shop for electricity providers free of charge and to save money on their electric bills.

Users simply visit Power2Switch.com, type in their ZIP code, and compare the rates, percentage of savings, electricity source and plan length from Commerce Energy and Champion Energy Services. Customers should expect an annual savings of up to 27% for traditional energy sources, or up to 15% for renewable (wind, solar) energy sources. The switch can be completed online in under ten minutes and is completely free. Customers may select twelve, twenty-four or thirty-six month contracts.

Although New Jersey's electricity market has been deregulated since 1999, allowing consumers the right to choose a licensed, independent electric supplier with the lowest rate, only about 5% of New Jersey residential customers have switched to a less expensive electricity supplier. Power2Switch plans to help educate consumers about their right to choose electricity providers and save money.

"We're very pleased to continue our growth and to now offer our services in New Jersey," said Phil Nevels, COO and co-founder of Power2Switch. "Many people still haven't realized that they have the right to choose their energy provider. Whether you choose renewable energy or traditional energy, you'll pay less than you pay now."

The Chicago-based Power2Switch has been operating in Illinois since 2010. The company also publishes numerous energy saving tips and market commentary on its blog. Power2Switch is currently running a "Free Electricity for a Year" sweepstakes open to new customers who switch their electricity provider through power2switch.com by July 6, 2012. One random winner will be selected to have their electricity bills paid for one full calendar year. Please read the complete official rules for more information.

About Power2Switch:

Power2Switch is the easiest way for residents and businesses to comparison-shop electricity suppliers and save money on their electric bills. Powered by an engaged and accessible customer service team, Power2Switch offers rates and plans for the largest variety of suppliers on one quick and convenient webpage. Part of the 2011 class at Excelerate Labs, Power2Switch was selected as one of five startups to participate in President Clinton's 2011 Clinton Global Initiative and was chosen as one of the "Top 10 Up-and-Comers" at the Chicago Innovation Awards. Founded in 2010 by University of Chicago Booth School of Business graduates Seyi Fabode and Philip Nevels, Power2Switch is an Illinois Commerce Commission (ICC) licensed broker agent consultant and is certified by the Better Business Bureau (BBB). For more information, please visit https://power2switch.com/.

The Power2Switch logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13391

Media Contact:
Ben Pavlovic
312-961-3919