June 23, 2016

Palmco Power NJ, LLC and Palmco Energy NJ, LLC (collectively, “Palmco”) have agreed to pay $5.28 million, including up to $4.5 million in consumer restitution, and to significantly revise its business practices, in order to resolve the State’s allegations that Palmco engaged in aggressive and deceptive marketing practices, and failed to provide promised energy rates that were competitive, lower than the utility companies, or consistent with the pricing mechanisms in Palmco’s contracts. A Complaint filed in May 2014 by the Attorney General’s Office alleged that the Brooklyn-based Palmco violated the Electric Discount and Energy Competition Act, the Consumer Fraud Act, and multiple regulations concerning energy licensing and registration, retail choice consumer protection, anti-slamming requirements and advertising, among other things, through its aggressive door-to-door and telephone solicitations, and representations as to “competitive prices” for gas and electric. NJ