Electric choice is working in Connecticut as competitive electricity prices continue to fall for United Illuminating power customers . It is hard to argue against 15% savings, which is what current (Summer 2011) low electric rates in the United Illuminating (UI) territory are yielding for customers who have switched off of default rates and moved towards competitive electricity prices.
UI customers are still relatively new to the idea of receiving multiple electric rate offers. Though Connecticut electricity has been deregulated for some years now, competitive electricity offers were not offered to residential customers until just a few years ago. Savings were small at first, but with the UI Generation Service Charge (GSV) rates recently increasing and wholesale rates remaining low, competitive electric companies have been able to offer attractive electricity prices.
UI electricity customers can be reassured that selecting a low electric rate from a alternative supplier will not upset UI or end the business relationship. The United Illuminating Company is in the business of delivering power, and they continue to charge regulated rates to all of their customers for this service. They also continue to send their customers the monthly electric bill. The generation default rate that customers pay with UI is passed through to competitive electricity companies who have won auctions for the right to service default paying customers. Believe it or not, even if you haven’t selected a competitive supplier in Connecticut, you are already paying a competitive supplier through default service.
Electricity competition is working in the United Illuminating Company service area because customers can choose from a variety of electric suppliers at electricity prices that are lower than default rates.
Current Low Electric Rate for United Illuminating Customers:
Electricity customers being serviced by United Illuminating (UI), a utility company servicing southern Connecticut, are shopping for lower electric rates as prices in the competitive market have become much lower than UI default rates.
United Illuminating power company offers a default rate of 10.62 cents per KWh for their customers who have not done power shopping. Customers who compare electric rates will find savings of 10% or more. The high UI default rates has made the United Illuminating territory attractive for competitive electricity companies to enter the market, causing prices to go down further.
MX Energy is the leading competitive supplier in the area with more than 19,000 UI customers. When UI customers choose an alternative supplier for their electric generation supply, UI continues to deliver the power and send the monthly electric bill to the customer. Electricity shopping is purely about finding savings and getting a lower rate on the monthly electric bill. Nothing else changes when a switch is made; there is no interruption of service and no one has to come to your home to adjust any lines and wires.
Here are some current competitive electricity rates for United Illuminating Customers:
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 residential electric customers, some only to commercial and industrial electricity users, and others are offering service to all energy users.
Currently, more than one million Connecticut customers have not chosen a competitive CT Electric supplier. Those who have not chosen a supplier pay a high default rate with either CLP or UI, who act as the electricity delivery companies for the majority of the state. Residential customers can save up to 18.7% by choosing a new electric company to provide electric generation service.
When a customer chooses an alternative electricity generation (or supply) company, they simply are choosing a lower rate versus the CLP or UI default rate. In most cases, the customer will still get their monthly electric bill from the utility.
Some CT electric suppliers, like MX Energy (click here), offer fixed rates that lock in a specific rate for a specific period of time. In Connecticut, the default rates are set for one year at a time, so getting a fixed electric rate with an electric supplier can guarantee savings.
Other CT electric suppliers, like Positive Energy (click here), offer a variable electric rate that can fluctuate from month to month but gives the customer the option to leave at any point without penalty.
Connecticut Light and Power (CL&P) residential customers are finding lower electric rates in the Connecticut competitive electricity market. Many CL&P residential customers have still not switched electricity suppliers because they are unaware of the savings and benefits of shopping for low electric rates.
Many electricity customers who have not switched are not well informed on the details of the Connecticut Electricity Restructuring Act. The act allows for CL&P and United Illuminating (UI) to continue to control the delivery of the power and the billing. These utility companies only offer supply electricity rates as a default service. Connecticut customers who do switch electric companies continue to receive their monthly electric bill from CL&P, or UI, but instead of paying the higher default supply electric rate, they pay the new lower rate that they signed for with the alternative electricity company.
Visit our Electricity Prices page for current electric rates in Connecticut.
Both offers can be chosen online. The fixed electric rate will require a commitment of 6 months. The variable rate has no commitment, however the rate can go up at anytime. We recommend the fixed rate offer at this time.
