Met Ed Electric

Electricity customers who are serviced by Metropolitan Edison Company (Met-Ed) are preparing to shop the competitive electricity market for the first time.  On January 1, 2011 electric rates for Met Ed customers, that had previously been capped, will expire giving customers the option to stay on the Med Ed default supply price or shop the market for lower electric rates.

It is expected that Met Ed customers who compare electricity rate offers from electricity companies will be able to save money versus the Met-Ed default price to compare rates.  Electricity shopping will result in lower electric bills for those electric customers who are able to lock in lower electric rates than the new Met Ed rates.

Met Ed residential customers should take the time to compare all electric offers.  It is expected that some electric companies will offer residential Met Ed customers variable rates that fluctuate with market rates, while other electric companies will offer fixed electric rates for up to two years that will give households price protection.  Other markets in Pennsylvania have seen low variable introductory rates followed by immediate spikes.  Sometimes a slightly higher fixed electric rate will save you a lot more in the long run compared to a lower variable electric rate.

Met Ed commercial and industrial customers will be given a variety of electricity rate options.  As Met Ed moves from a regulated environment to a competitive market, it will be extremely important that businesses take the time to educate themselves on all of their electricity supply options.  The right choice can save them thousands on their electricity bills.

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{ 2 comments… read them below or add one }

Melody October 25, 2010 at 9:38 am

We just received a quote from Glacial Energy. I have my reservations but the president seems to think they are a good company. With regard to your reply on 10-5-10 to Dan the Energy Broker , you’re right and he’s wrong. I have in front of me a copy of their Forecasted Price Comparison with their estimated forecast rate comparison from 11/10 to 10/11 and their Forecasted Historical Cost Analysis with their estimated historical rate comparison from 09 to current. Dan said they use this historical data to forecast future usage, not future rates, and he’s wrong. I don’t know what to make of Glacial Energy.

John November 7, 2010 at 8:02 pm

Dear Melody,

I used to work for Glacial Energy. I strongly recommend you look for a supplier offering a fixed rate as opposed to a variable rate. Markets are expected to rise, and since Glacial doesn’t reveal what their adder is (something any other reputable supplier offering variable rates WITH A CONTRACT), you will be paying very very high rates during the cold weather and very hot weather. Glacial has fired all of their direct sales force and moved their headquarters a while ago to the Virgin Islands to avoid paying taxes in the US. Also, the owner just spent $50 Million on a personal jet that his customers paid for. Yes they look good on paper, but they cannot guarantee any savings. Glacial Energy poisons the energy market with their deceptive business practices, greedy Directors and their “too good to be true” rate promises. Run away as fast as you can. I know – I used to work for them, and I lost alot of good customers because of them. I work for a broker now and I feel good about what I do because I don’t have to lie to my customers any more.

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