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Stream Energy expands into JCP&L service area

New Jersey residents and businesses continue to see more options for their electricity supplier, with Stream Energy announcing it has expanded its service area in the state.

The Dallas,Texas-based electricity company already offered lower electricity rates for consumers in the service areas for two of the state's four major utility companies, Public Service Electric & Gas and Atlantic City Electric.

Now Stream will begin offering services to customers in the Jersey Central Power & Light service area, covering nearly all of the state.

"With over 970,000 residential meters in the area, this service area represents a key segment of the New Jersey population that we are now able to serve," Stream Energy chairman Rob Snyder said in a statement. "Currently, less than 5% of energy consumers in the JCP&L service area have switched away from the incumbent utility, so there is ample opportunity to promote the benefits to energy deregulation to consumers looking to save money."

According to the U.S. Energy Information Administration, New Jersey paid the sixth-highest electricity rates in the country in 2010, making comparing electricity providers a tempting prospect.