On January 1, 2011 electricity customers of the utility Connecticut Light and Power (CL&P) who are on default generation service will see their rates drop from the 2010 prices. Residential electric users who are still on default service will see their rates drop from $0.11051 to $0.0942 and small businesses will see a new rate of $0.10188 from the previous rate of $0.11723.
The lower rates are a result of the wholesale electric and gas markets dropping over the last year. CL&P buys their power for their default customers on intervals. A portion of the default rates were bought when wholesale prices were higher than they are today. This means that electricity customers in Connecticut can still get an even lower rate than the new 2011 CLP default rates.
MX Energy is currently offering a 6 month rate of $0.0899 for residential customers.
Connecticut Commercial electric rates below $0.095 can be found here.
So far 32% of CL&P residential customers have switched off of default service and are using a competitive electric supplier. 54% of small businesses in the area have found more competitive electric offers.
Electricity customers being serviced by the utility PECO energy in southeast Pennsylvania have started to shop the competitive electric market for low electric rates.
On January 1 the electric rates that the utility charges will be lifted after being fixed since 1998. The majority of businesses will see an increase on their electric bills. PECO Energy business electric rates will be between 9.37 to 9.57 cents per KWh depending on the size of the business. These commercial electric customers will be able to find lower priced electricity by comparing the rates of alternative electric suppliers.
The alternative electric suppliers will offer competitive rates to replace the PECO price to compare rate. In most cases, depending on the alternative electric supplier, businesses will continue to receive their electric bill from PECO energy. PECO still serves at the regulated utility for southeast Pennsylvania customers.
Competitive Commercial electricity rates in PECO can save customers between 7-15% off their monthly bill. Larger commercial and industrial customers can save even more.
Current PECO Competitive Commercial Rates (updated daily):
Electric rates in Texas are down to levels that have not been seen since 2002 when the electricity market first became deregulated. The downward trend in electricity prices has been a result of falling natural gas prices throughout 2010.
Both residential and commercial electric customers are benefiting from the lower electric rates. Residential customers are signing fixed electric rates in the $0.08 – $0.09 cents per KWh range, where previously they had been as high as $0.17. If you haven’t checked your electric bill rate in awhile, now would be a good time. Often if you remain with a provider for a long time without signing a contract, they will gradually raise the rate even if the market does not dictate that to happen. Your bill should clearly state the rate (cents per KWh) that you are paying. If the rate is above 9 cents and you are not in a contract, shop for a lower fixed electric rate.
Commercial electricity customers are seeing rates below $0.05 per KWh. This is a huge drop off from where the electricity market was just two years ago when in was not abnormal to sign a fixed electricity contract above $0.09 per KWh. The lower electric business rates have allowed many businesses to drastically cut down on their energy costs.
Electricity prices in Houston and its surrounding cities have dropped to low levels. When Houston residences compare electric companies they can find fixed electric rates under 10 cents per kilowatt hour for up to twelve months or even lower electric rates for shorter terms.
Houston commercial electric rates are in the six cent per kilowatt hour range for one year terms. Just two years ago many commercial electricity customers were signing fixed electric rate contracts above 10 cents. Though current longer term contracts (24 and above) are a little higher than short term (12 months and under) rates, many businesses are signing longer term electricity contracts in order to protect themselves from the potential of rising electricity costs in the coming years.
The electricity market is unpredictable causing many commercial electricity customers to want to limit their risks by locking in the lowest electric rate they can for the longest period of time. The alternative can be seeing their electric bills double in a very short time period.
Residential electric customers in Houston are taking the same strategy signing fixed electric rates for as long as electricity companies will allow, which is usually 24 months.
Here are the lowest electric rate offers that we found in the Houston area:
Centerpoint area -
