Start the New Year by Saving on Your Electric Bill with SaveOnEnergy.com
Who doesn’t want to start the new year by saving money? And unlike losing weight or kicking a bad habit, this is a new year’s resolution you can keep, thanks to SaveOnEnergy.com which makes it quick and easy to save hundreds, if not thousands, on your electric bill . In many states including Texas, Pennsylvania, and Illinois, customers can shop for their energy supplier , just as they can choose their long distance carrier, cellular provider, or internet provider. However, because shopping for a low electric rate is still new to most customers, most residential and small commercial customers haven’t shopped for a competing energy provider , and are leaving hundreds of dollars on the table. Consider Texas, for example. If you haven’t shopped for a new electric provider , or just haven’t shopped for a few years, you could be paying a rate as high as 12, 13, or
Competition Bringing Lower Electric Rates to Texas as Prices Rise Nationally
The competition in Texas’ electric industry, which allows customers to choose their electricity provider , has resulted in Texas electric rates falling over the past few years — during the same time that electric rates are on the rise nationally. The Association of Electric Companies of Texas (AECT) recently noted that from August 2006 and August 2011 (the latest data available), the national average electric rate for residential customers rose by 11%, according to data from the Energy Information Administration (EIA). However, during this same time period, the Texas statewide average residential electric price fell by 14%, according to the EIA data. And rates fell even more in parts of Texas where customers have a choice in their electricity provider . AECT noted that when comparing competitive offers from electric suppliers as archived by the state’s Public Utility Commission, the average residential offer in Texas’ competitive electric market dropped by
New PECO Rates Only Marginally Lower; Customers Save More By Shopping with SaveOnEnergy.com
On Tuesday, PECO announced new Prices to Compare for electric customers who do not choose to buy their electricity from a competing electric supplier , and the new PECO rates are still above the low electric rates available by shopping with SaveOnEnergy.com . The Price to Compare is the rate paid for generation supply for customers who buy their electric supply from PECO. Under the competition introduced into Pennsylvania’s electric market , customers at PECO and other utilities can choose their electric supplier and switch to a company offering lower rates. To date, more than half of electricity sold to customers at PECO is provided by competing energy suppliers offering a lower rate. PECO’s Price to Compare will change January 1, 2012. The new residential Price to Compare will be 9.96 cents per kilowatt-hour. While this is marginally lower than the current Price to Compare, it’s still much higher than
Municipal Aggregation Programs Do No Produce Lowest Rates for Illinois Electric Customers
Illinois business and residential electric customers have no doubt seen a lot of news stories recently about a program known as “municipal aggregation” or “opt-out aggregation,” which purports to save customers money on their electric bill . While these programs may provide a marginal amount of savings versus the above-market rate charged by ComEd or Ameren, these municipal aggregations do not maximize savings for customers, and worse, keep customers from shopping for more advantageous rates. At its core, municipal aggregation is government-sponsored “slamming” — or the switching of customers to a new electric supplier that the customer has not affirmatively chosen. All the residential and commercial electric customers in a town are automatically pooled together, unless the customer affirmatively “opts out” and chooses their own electric supplier . For customers not opting out, the town selects a new energy supplier , replacing the utility, at the town’s discretion, and all
Two Texas Retail Electric Providers to Cease Operations; S&P Sees More Exits Looming
In what may be the first of several, two Texas retail electric providers have filed with the Public Utility Commission to relinquish their electric provider certificate and withdraw from the market. Meanwhile, a new report from Standard & Poor’s Ratings Services says that small retail electric providers , “may have trouble surviving” in the Texas energy market . SaveOnEnergy.com has alerted Texas electric customers over the past few weeks of the precarious financial situation that some of the electricity providers may be in, due to the extreme heat and the volatile wholesale energy pricing during August, and that customers should check to make sure that they are with a financially stable electricity company . Now come tangible signs of these problems. Two Texas retail electric providers — Pocket Power (organized as Monongahela Communications LLC) and Chain Lakes Power (which traded as Simple Power) have filed to relinquish their supplier licenses at
Top Power Executive Expected Retail Electric Provider Defaults in Texas
During an October 3 investor call, NRG Energy Chief Executive Officer David Crane said that he had expected a number of retail electric providers in Texas to go out of business due to the extreme heat and wholesale energy price shocks which strained retail providers during the entire month of August, and said that he anticipated significant “fallout” from the wholesale market price spikes which ate into retail electricity providers’ profits and stressed their balance sheets. ” [I] t was a very, very difficult month to be a retailer in Texas,” Crane said. NRG runs retail providers Reliant Energy , Green Mountain Energy, and Pennywise Power. To date, there have been no public defaults by retail electric providers as a result of the challenging market environment, and while there have been one or two sales of retail providers, none were definitively linked to the extreme market conditions in August. However, it’s
Only Days Until PECO Raises Electric Rates
New, higher electric rates are set to go into effect for customers buying their power supply from PECO in the Philadelphia area on October 1, unless customers shop for an alternative electric supplier with SaveOnEnergy.com As SaveOnEnergy.com first alerted customers over a month ago, electric rates at PECO for small businesses and residential customers will rise as PECO rebalances its power supply portfolio, and passes onto customers new costs of buying power. These higher electric rates, reflected in the “Price to Compare,” only apply if you buy your electricity supply from PECO, and not one of the dozens of competing energy suppliers now offering you a lower rate. With the competition introduced in Pennsylvania’s electric industry, customers can choose among competing electric suppliers offering lower electric rates for their power supply, which will still be delivered over PECO’s wires under service regulated by Public Utility Commission. Currently, over 40% of
Extreme Summer Strains Texas Electric Providers; Make Sure Yours is Financially Stable
This summer’s extreme heat has put a severe strain on the finances of Texas electric providers , producing conditions which could result in one or more providers going out of business . Texans who have chosen their electric provider by just looking for a cheap rate, without any diligence as to the provider’s financial health, need to look for a more stable provider using SaveOnEnergy.com to ensure their electric provider does not succumb to these conditions and go out of business. The wholesale electric market in which Texas retail electric providers operate is an expensive and risky business, even under normal conditions. That’s why SaveOnEnergy.com only offers electric rates from prudently operated, risk averse electric suppliers that aren’t going to go belly-up due to wild swings in the market. On top of the “normal” risk in the electric market, extreme events, especially when prolonged or unexpected, can put electric providers
Electric Rates for Businesses to Jump at Met-Ed
Business customers at Met-Ed in Pennsylvania who do not shop for a lower electric rate will start paying higher energy prices for power supplies from Met-Ed effective September 1. Customers can avoid this rate hike, and save up to 30%, by choosing a new electric supplier with SaveOnEnergy.com . Met-Ed, a FirstEnergy company, serves 560,000 customers in 13 Pennsylvania counties, mostly in eastern Pennsylvania including Reading and outlying areas surrounding Harrisburg, Bethlehem, and Allentown. Earlier this week, Met-Ed posted its updated Prices to Compare for the three-month period beginning September 1. The Price to Compare is the part of the customer’s utility bill related to electricity supply , and under electric competition it can be avoided if the customer chooses to buy their electric supply from a competing energy supplier . At Met-Ed, the new Price to Compare for small and medium-sized businesses will be 9.606 cents per kilowatt-hour (kWh),
SaveOnEnergy.com Celebrates Nine Years of Lowering Customers’ Electric Rates
SaveOnEnergy.com , the nation’s leading resource for customers to save money on their energy rate, recently celebrated nine years of helping customers shop for their electric or natural gas supplier, saving customers millions of dollars in the process. Since it was founded nine years ago, SaveOnEnergy.com has always focused on empowering customers to leverage the power of choice introduced into the electric and gas markets. With its industry experts, SaveOnEnergy.com screens all the energy suppliers in the market, and only takes the cream of the crop: those that are well-run and financially sound with high levels of customer service. SaveOnEnergy.com then gets these energy suppliers to compete, head-to-head, against each other to win your business . This drives prices down, and maximizes your savings when choosing a new energy supplier . And with SaveOnEnergy.com’s exclusive commercial exchange portal, all it takes is just a few clicks of the mouse to