Electricity choice in Connecticut is clearly working as competition is forcing prices on a downward trend. Just a few short years ago consumers in Connecticut were paying the highest electricity rates in the country, causing state senators to draw up a Energy Bill to end electric choice. The bill was eventually vetoed by the governor, and with time prices have dropped.
Connecticut Light & Power customers have seen electricity deregulation and competition bring down their generation rates by more than 30%. In 2009, the generation default rate for CL&P residential customers was over $0.11 per KWh. Now, in 2012, that default rate has dropped to $0.0828, with competitive electricity rates as low as $0.0769.
Consumers who do not shop for competitive electricity pay the default rate that is offered by CL&P. Though they may not realize it, the drop is a result of increased competition. However, to maximize the benefits of Connecticut electricity choice, consumers should shop for low electricity prices.
Below are some current competitive electricity rates from Connecticut Power Companies offering service in the CL&P territory. Even after a competitive rate is chosen, the customer will still receive their monthly electric bill from CL&P, and CL&P will continue to respond to power failures and emergencies. The only thing that changes is the rate (i.e. you pay less on your monthly electric bill).
The vast majority of Philadelphia electricity customers are serviced by the utility PECO Energy. At the beginning of 2011 PECO customers had their electric rates, which had been capped since 1997, lifted. This launched the beginning of true electric choice in the area.
PECO energy customers have the ability to shop and compare electric rates, which have been resulting in electric bill savings for thousands of Philadelphia residences and businesses. Customers can compare competitive electricity rates in Philadelphia against the PECO price to compare. PECO default rates increased in July, making competitive electric rates even more attractive.
Competitive Philadelphia electricity rates are providing as much as 18% savings versus PECO default rates for residential customers, and between 10-20% savings for business electricity customers.
Below are current PECO Residential Electric Rates
Below are current PECO Business Electric Rates
While most of the marketing efforts of competitive electricity suppliers have been focused on the territories controlled by PECO Energy and PPL Energy, customers of Duquesne Light are finding the largest savings against their utility price to compare default rates.
Duquesne Light customers, who currently have a supply default rate of 8.89 cents, can currently lock in a 24 month rate as low as 7.19 cents which will yield a savings of 19% on the electric bill. While customers new to electricity choice might be hesitant to lock in a rate for two years, it is important for them to understand the benefits of long term fixed electric contracts. The fixed electric contract will save customers money right away and protect them from potential default rate increases in the summer and in 2012. Electricity customers can also lock in for a shorter term at 12 months at a low rate of 7.55 cents resulting in a healthy 15% electric bill savings.
PECO electricity savings and promotions are expanding in the Philadelphia area as suppliers compete for market share. The PECO territory saw electric price caps expire on January 1 which has opened the door for alternative electric suppliers to offer rates to PECO default rate payers.
Duquesne Light saw their rate caps expire several years ago. However electric suppliers were slow to enter the market due to the low default price to compare rates that the utility was offering their customers as a result of an auction they held among wholesale energy suppliers. Now that those default rates are higher than what retail electric suppliers can offer, electricity companies have started to offer service to customers as they can now offer lower electric rates and electric bill savings. Customers who switch electric suppliers will still receive their monthly electric bill from Duquesne Light. The only difference will be the lower electricity rate on the bill.
Current Duquesne Light competitive offers:
Rockland Electric delivers electricity to just under 63,000 residences in northern New Jersey. Though electricity choice has existed in New Jersey for several years, competitive electricity companies have just recently started offering competitive electricity rates in the Rockland Electric area.
Though, as of December 2010, only 1.8 percent of the residential customers have chosen an alternative electric supplier, Rockland Electric residential customers can save as much as 18% versus the Rockland default rates. Rockland Electric offers default electricity rates for those customers who do not shop and compare electricity offers.
People have been slow to shop the competitive energy market in the area mostly because they are unaware of their choices. Of the four incumbent electricity utility companies in New Jersey, Rockland Electric is by far the smallest. Because of this, the competitive electricity suppliers are focusing more of their marketing efforts on the bigger utility areas of PSEG and JCPL, even though the greatest savings opportunities currently exist for Rockland customers.
It is expected that more and more Rockland Electric customers will shop for lower rates in 2011 as they become more familiar with their electricity choice options.
| Rockland Electric Price to Compare – $0.1215 |
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$0.097 /Kwh |
20% Savings
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