Approved Energy II

About Approved Energy II

With their main offices in Engelwood, New Jersey, Approved Energy II provides electricity to 2 states in the country and is considered a retail power marketer. The provider has 2,065 electricity customers. There are 57 residential accounts and 2,008 commercial customer accounts. Customers of Approved Energy II are charged an average electricity only residential price of 10.87 cents per kilowatt hour. This is 7.12% more than the national average electricity only price of 10.14 cents, ranking the provider at 85th lowest for average electricity only price out of 150 companies in the United States. In 2022 Approved Energy II had sales to end customers totaling 211,107 megawatt hours. The electricity sourced by the supplier primarily came from megawatt hours that they purchased on the wholesale market. They purchased 211,107 wholesale megawatt hours. In 2022, the total revenue for the company was $22,917,500, which was earned entirely through electricity sales to retail customers.

The average residential electricity bill for an electricity only consumer of Approved Energy II is $62.43. Customers of the company pay a 11.76% markdown compared to the rest of the US. Electricity generation is not part of the Approved Energy II business model, as they purchase power at wholesale rates and then resell to their end users.