ED Magedson – Founder
HIKO ENERGY LLC12 College Rd, SUITE 100 monsey, New York USA
HIKO ENERGY LLC RIPPING off citizens of New Jersey by hiking gas rates monsey New York
HIKO Energy purports and claim to reduce the gas bills but they are fleecing and ripping off citizens from New Jersey who have signed up for their gas and electric delivery.
The PSEG rate for October was 54 cents/therm while HIKO deilvered at 48 cents/therm.
HIKO energy then raised the rates to 77 cents in November and then 89 cents in December and then 200 CENTS in January. The price per therm was increased 500% with convivance of PSEG and also Board of Public Utilities which officially stated that they are not responsible in any way in regulating the companies like HIKO despite the fact that they not only advertise these companies, these companies are part of CHOICE Program administered by Board of Public Utilities.
When i contacted PSEG they advised that we can only switch back to PSEG after 2 months because of the gas is purchased two months in advance (Then the rates for December was 77 cents so 2 months in advance means HIKO purchased the gas lower than 77 cents and is selling it to customers at $2 per therm, a profit margin of 300% taking advantage of the extermely cold winter.
Because people cannot literally turn their heat off, HIKO with conivance of Board of Public Utilities is ripping off New Jersey Citizens and there is no recourse for them to appeal to. Board od Public Utilities was very rude and turned down all the entreaties.
This report was posted on Ripoff Report on 03/07/2014 09:01 AM and is a permanent record located here: http://www.ripoffreport.com/reports/hiko-energy-llc/monsey-new-york-10952/hiko-energy-llc-ripping-off-citizens-of-new-jersey-by-hiking-gas-rates-monsey-new-york-1128953. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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