This almost sounds like Lou Magazzu is involved in a legitimate business venture. North American Power is a company based in Norwalk CT. They promise customers a huge savings in their energy bills. The above video informs the viewers that with deregulation, they can basically get rich. Rich on whose money? Government handouts, like the subsidies, grants and loans such as Solindra?
Do a Google search on North American Power, and you will find a lot of websites pretending to be independent, lauding NAP. But there is something fishy. Do a search on news articles, and another story surfaces.
The Baltimore Sun reports:
The woman who says she represents North American Power is not telling the truth about the benefits of buying electricity from her company.
“You can save up to 10, 15, 20 percent of your bill, depending on your usage,” she says in a telemarketing call to my house.
But the rate she eventually quotes is only about 7 percent less than the standard price offered by Baltimore Gas & Electric — something the average customer would have no way of knowing. And of course the percentage savings won’t vary even if my “usage” goes up to that of a steel mill.
This is a problem for North American. A few weeks ago the staff of the Public Service Commission, having done its own investigation, challenged the company to show why it shouldn’t be penalized for “committing fraud or engaging in deceptive practices.”
And on Philly.com, hardly Fox news, adds:
North American Power, a Connecticut company, is facing a deceptive-practices complaint from the Maryland Public Service Commission that could lead to the loss of its license there.
And in Pennsylvania, North American’s salespeople have raised eyebrows with aggressive tactics, including a website apparently designed to look like papowerswitch.com, the Pennsylvania Public Utility Commission site aimed at assisting customers with deregulated markets.
All one has to do is to look at Lou Magazzu’s history, such as the huge press conference for a bogus solar panel company in Millville a few years ago, to be wary of anythin g that has his name attached to it.