electric company

Residential electricity customers of ComEd are seeing rate savings by competitive electricity companies for the first time since the Electric Choice Laws in Illinois were established in 2007. With ComEd price to compare rates having been established through May 2012, customers can look at competitive electric rates and see clear savings that will show up on their monthly electric bill.

People can find lower ComEd rates by shopping for competitive electric rates at online energy comparison sites. Current savings are well above 10%. The ComEd price to compare includes electricity generation and transmission charges. The distribution rates found on the ComEd electric bill continue to be regulated by the Illinois Utility Commission and charged by ComEd. Choosing a competitive electricity company for electricity supply is simply about finding and paying a lower electric rate. When a switch is made there are no service interruptions and you continue to receive your monthly electric bill from ComEd.

The misconception about electric choice in Illinois is that by selecting an alternative electric company you are leaving ComEd. The reality is that you remain a ComEd customer no matter who you choose for electricity generation. Furthermore, ComEd does not profit off of the default price to compare generation rate, they simply pass on the revenues from customers to electricity companies. ComEd does not care if their customers shop for competitive rates, their profits are earned from the regulate distribution charges.

Electric suppliers have started to enter the ComEd market and offer products to residential customer, and more are expected over the next year as ComEd becomes an active residential electric choice market.

Share

{ 0 comments }

Texas electric companies are constantly competing for the market share of electricity customers throughout the state.  Electricity choice is more apparent in Texas than any other state as dozens of suppliers compete for customers in every city that is part of the Electric Reliability Council of Texas.  The electricity companies are always adjusting their buying strategies so that they can lower their electricity rate offerings to customers.

Electricity customers living in Texas can choose to purchase a variety of electricity rate products.  Gone are the days when someone living in Houston or Dallas moves into an apartment and is given the local utility to call who is the sole company responsible for turning on the power.  Customers can choose fixed rates that are as short as three months to as long as three years.  They can choose an electric company who is offering a low introductory variable rate or take part in reducing their carbon footprint by choosing to purchase green energy in the form of wind power.

In addition to the many electric rate offers available, customers who take the time to shop and compare Texas electric companies can find great bonus promotions including gift cards and cash back awards.  For many Texas consumers, the ability to choose who  supplies your electricity hasn’t fully settled in.  Customers who do not shop for electricity are likely to be paying electricity rates that are anyway from 10 to 100 percent more than they can find in the competitive electric market.

When electric rate contracts expire, the customers go on a month to month rate with the electricity company they chose.  Over time these electric rates tend to creep up.  The electric companies no that there are a large number of power customers who are just going to pay their electric bill and not take the time to shop for lower electric rates.  It is important for customers to stay on top of their electric bills and keep track of when their contracts expire.  Leaving it unattended for too long can result in a much higher electricity bill than is necessary.

If you haven’t compared the Texas electric companies in awhile in your area, take the time and see how much you can save.  Find the electric rate that was charged on your last electric bill and compare it to some of these rates:

Texas Residential Electricity Prices:

All Texas Electricity Prices
Champion Energy $0.067
/Kwh
Introductory rate with Promos Signup Now
MxEnergy $0.099 /Kwh Low Rate Signup Now
Champion Energy $0.085/Kwh Lowest 6 Month Rate Signup Now
Washington Gas $0.0997/Kwh Wind Power Signup Now
Share

{ 0 comments }

PSE&G electricity customers in New Jersey paying basic generation service rates, the PSE&G default rate, are paying among the highest electric rates in the country.  The basic generation service rates are supply electricity rates that PSE&G charges customers who have not selected and alternative electric generation supplier.  These default rates are based on a series of auctions that PSEG holds for their customers.  Electricity suppliers compete to provide rates for a percentage of the PSEG default customers.

PSE&G passes the supply rates from the electricity companies who win at the auction directly on to customers.  So even when a customer pays the basic generation service default rate, they are still paying money for their supply service to another electric supplier other than PSE&G.

Lower electric rates can be selected by customers who take the time to shop and find their own electricity supplier.  When the auction for default rates takes place electricity suppliers have to take into account that a certain percentage of customers will leave the basic generation service during the year.  For example, if an electric company wins the right to provide default service for 100,000 customers starting in June, they have to put a premium on the price taking into account that there is a probability that 15% of these customers might sign a contract with an alternative electricity supplier who is offering a lower electric rate.

When electricity suppliers market their service and rates to individual customers, they do not have to include a premium since they are pricing for one entity.  This results in lower rates and savings on the PSE&G electric bill.

Here are some current offers and savings for electricity customers in PSE&G:


Share

{ 0 comments }

PECO energy is the utility company that delivers electricity to Philadelphia and surrounding areas.  PECO is the largest utility in Pennsylvania in terms of the number of customers it serves.

Many PECO energy customers might be unaware of their ability to choose an alternative electric supplier for the generation portion of their electricity bill.  With price caps being lifted earlier this year, the PECO service area is now a fully competitive electricity market.  Customers can lower their electric bill by shopping for an electric company who is offering a lower rate than the PECO default rate.

Below are some PECO offers that are lower than current PECO default rates.  PECO electricity default rates will change every three months.  According to PECO, the PECO residential rates are expected to increase this summer.  Locking in a fixed electricity rate with a competitive electricity company will save you money right away and protect you from future rate increases.

Some of the offers below also include promotional offers such as gift cards and cash back.  Click on the offers for more information.


Share

{ 0 comments }

Centerpoint Energy

February 14, 2011

Centerpoint Energy is the electric delivery company in the Houston metro area.  They are responsible for the management and maintenance of the electric lines and wires, and charge fees that are regulated by the state utility commission and passed through the customer’s electric supplier charge. The electricity market in Houston is deregulated so residential customers […]

Share
Read the full article →

Atlantic City Electric

February 6, 2011

The Atlantic City Electric company, the electricity utility company serving the majority of southern New Jersey, has the highest electric default rates in the country among utilities serving electricity deregulated markets.  Current residents serviced by Atlantic City Electric who have not chosen a competitive electric supplier for the supply portion of their energy usage, are […]

Share
Read the full article →

Energy Alliance of Pennsylvania Review

October 27, 2010

We have recently been getting a lot of questions pertaining to the Energy Alliance of Pennsylvania as a result of their increased rates over the past few months.  After much research, here is what I have discovered: The Energy Alliance of Pennsylvania is a licensed retail electric provider that was set up by the Manufacturing […]

Share
Read the full article →

CT Electric Suppliers

October 6, 2010

The 1.5 million electricity customers serviced by Connecticut utilities CL&P and UI have close to a dozen options when it comes to choosing a Connecticut electric supplier. CT electric suppliers range from small start up companies to sister companies of fortune 500 energy companies.  Some of the CT electric suppliers are only offering service to […]

Share
Read the full article →

Viridian Energy Review

October 4, 2010

Viridian Energy is a new company, founded in 2009, who offers a variable electric rate to customers in Pennsylvania, Maryland, Connecticut, and New Jersey. Viridian Energy only offers a variable rate which can be dangerous if you are a customer.  There is really no limit to how high a variable electric rate can go up […]

Share
Read the full article →

Texas Electric Bill On The Rise

September 7, 2010

If you are living in Texas and have noticed in recent months that your monthly electric bill has become higher, it may be time to start looking for a new electricity contract.  The reason for the recent upswing in your electricity bill may very well be due to the fact that your old electricity rate […]

Share
Read the full article →