Arctic Weather Provides Reminder That Low Natural Gas Prices, And Electric Rates, Can Change Quickly

By Amanda Winchester on December 13, 2010

The arctic weather which blanketed nearly all of the U.S. last week provides a stark reminder that energy prices , whether due to weather or other market shocks, can quickly change, and customers need to protect themselves from this volatility while electric rates are still low.  SaveOnEnergy.com offers both business and residential customers the fastest and easiest way to lock-in the lowest energy rate , by putting suppliers in head-to-head competition for your business.

While natural gas is still trading at a relatively modest level in the mid $4/MMBtu range, gas was below $3.50/MMBtu as recently as late October, and has been climbing steadily with winter heating demand since then.

Even though natural gas never tested $5 last week despite the frigid cold, prices did jump 30¢ from the low $4 range.  It’s also worth remembering that gas prices spiked as high as $6/MMBtu last December and January, and such prices are not unlikely if the U.S. continues to experience record low temperatures.

Fortunately, natural gas is still a bargain right now, and so are Texas electric rates, which are largely tied to the price of natural gas.  That means customers who have been riding the market due to the low volatility in recent months have a good opportunity to lock in today’s low rates , and protect themselves against any winter price spikes from cold weather and heating demand.

Texas business customers , depending on their size, location, load factor, and other characteristics, can still find fixed electric rates in the 6¢/kWh range, which guarantees them a low rate with price certainty no matter what happens with gas prices in the future.

Using SaveOnEnergy.com , Texas electric customers can be assured of getting the lowest rate possible, because only SaveOnEnergy.com puts up to eight competing energy suppliers in head-to-head competition for your account.  Shopping through SaveOnEnergy.com can save Texas business customers thousands of dollars on their electric bills , while avoiding any nasty surprises if energy prices spike again.

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PECO Generation Rates Already Hiked, Customers Must Not Delay Shopping

By Tracy Hodge on December 7, 2010

Electric rate caps for customers of PECO Energy in the Philadelphia area formally end December 31, but customers are already paying a higher rate for their generation service for the electricity they buy from PECO in December.  It’s another reason why customers need to quickly shop for a lower priced energy supplier, and the quickest way to find the lowest rate in the Pennsylvania electric market is with SaveOnEnergy.com .

Effective November 30, the average generation rate paid by small business customers at PECO jumped 57% , from 5.71¢/kWh to 8.98¢/kWh.  This is the rate that customers pay for the physical power supplied to, and used by, their business.  Customers can choose to buy their power supply from any number of new, competing suppliers , who are offering rates 20-30% lower than PECO’s 8.98¢/kWh.

The rate increase is separate from the looming end of electric rate caps, and instead reflects an archaic reconciliation of several charges levied over the past decade.

The bottom line, however, is that commercial customers who shop for a competing energy supplier at PECO can now avoid, or “bypass”, a generation charge of 8.98¢/kWh.  This presents an immediate savings opportunity for business customers at PECO.  Whereas a month ago, shopping for supplies before the end of the rate caps didn’t make sense because the PECO rate of 5.71¢/kWh was lower than competing offers, the PECO rate hike has made prices from competing electric suppliers very attractive to customers immediately, and not just for the post-rate cap period.

Since the higher PECO generation rate has been in effect since November 30, customers must act quickly to avoid spending another day on the inflated rate.  That’s where SaveOnEnergy.com is an invaluable resource to Pennsylvania business customers looking for the fastest and easiest way to find the lowest electric rates .

Only SaveOnEnergy.com offers Pennsylvania business customers its exclusive commercial exchange portal , where up to eight competing energy suppliers competing head-to-head for your business.  Only with SaveOnEnergy.com do customers have the ability to instantly transmit their information to up to eight energy providers , who then contact the customer directly with their lowest rates.  SaveOnEnergy.com’s exchange portal cuts out the middleman in finding the lowest electric rates , and streamlines the shopping process, so customers can start saving as quickly as possible.

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Pennsylvania PUC: Now is the Time to Shop for Lower Electric Rate

By Amanda Winchester on November 29, 2010

The Pennsylvania Public Utility Commission (PUC) confirmed last week that now is the time for customers at PECO and other utilities to shop for a lower electric rate ahead of the expiration of electric rate caps which end on December 31.

Shopping for a low cost energy supplier only changes one thing about your electric service — it gives you a lower monthly bill.  Nothing else changes.  PECO, Met-Ed, Penelec, or whoever your utility is, will still deliver your electricity over the same wires, using the same meter, and will still respond to outages and emergencies in a non-discriminatory manner no matter who you buy your power from.

“If a thunderstorm rolls through, (and) you picked an alternative generation supplier , PECO will still service you as a customer so nothing changes,” Public Utility Commissioner Robert Powelson explained.

Customers shouldn’t worry about offending PECO or their respective utility by shopping for another electric supplier , Powelson added, and utilities like PECO actually encourage customers to shop around for a lower rate.

That’s because PECO and the other utilities don’t own power plants anymore and don’t generate their own electricity .  Instead, they buy power on a regional wholesale market, and merely pass the costs onto customers. 

Public Utility Commissioners have noted that some customers are hesitant to shop for a new electric provider, even though they can save hundreds of dollars on their electric bills by doing so, because they are worried that shopping will negatively affect their local utility, which has roots in the community through various charitable and economic development programs and endeavors.  However, these concerns are unfounded, because the utilities are not hurt in any way by customers saving money on their electric bill , the PUC explained.  Since the utilities no longer own generation or make money by arranging for customers’ electric supplies , the utilities are in no way hurt by customers choosing a lower cost energy supplier.

“PECO does not care if you choose a competitive supplier and is encouraging its customers to shop around.  PECO will continue to deliver your electricity , provide reliable service and respond to outage problems.  The quality, reliability, and maintenance of your electric service should not change as it is still monitored by the [Public Utility] Commission,” the PUC says in a customer pamphlet .

Therefore, when competing electric suppliers are offering residential customers 10-15% savings, and 20-30% savings for commercial and industrial customers, there’s no reason not to switch.  Shopping for a new energy supplier is easy too, and takes just a few minutes using a trusted source like SaveOnEnergy.com . 

SaveOnEnergy.com is the only source for Pennsylvania customers to log on and instantly compare the lowest electric rates from a wealth of competing energy suppliers , all of whom have been vetted against a strict criteria for reliability, reputability, and customer service .  With SaveOnEnergy.com , it takes just a few clicks of the mouse to find the right energy provider for you, and start saving significant money on your power bill.

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Electric Rates for Allegheny Customers in Pennsylvania to Rise 30% Starting January 1

By Amanda Winchester on November 22, 2010

Business customers at Allegheny Power in Pennsylvania , also known as West Penn Power, are facing a 30% increase in their electric rates starting January 1, 2011 when rate caps expire at the utility.

According to recently filed tariffs with the Pennsylvania Public Utility Commission, business customers on Schedule 30, which is for mid-sized customers, will pay a generation charge of about 6.5¢/kWh.  That’s nearly 30% higher than the current generation charge of 5.1¢/kWh.  The generation charge also doesn’t include transmission costs, which means that business customers’ “all-in” rate for generation service from the utility will be even higher — about 6.8¢/kWh.

Unless business customers at Allegheny Power shop for a lower electric rate , they will automatically be charged this 30% rate hike.  Under the new competitive market which has been introduced into the Pennsylvania electric industry, new, alternative energy suppliers can provide customers with generation supplies — at rates significantly lower than the utility.

By shopping around for a lower-cost electric supplier , business customers at Allegheny Power can expect to save 20-30% on their electric costs , or more, depending on their usage and type of business.

SaveOnEnergy.com is the best source to compare electric rates at Allegheny Power, and the rest of the Pennsylvania utilities.  Only SaveOnEnergy.com allows customers to get up to eight competing rate quotes from alternative energy suppliers battling head-to-head to win the customer’s business.  This head-to-head competition forces suppliers to provide customers with their absolute lowest rate, with no fat margins, because they have to be able to undercut the best rates from the seven other suppliers competing for the same customer. 

This competition on SaveOnEnergy.com’s commercial exchange portal makes finding a lower energy rate fast and easy for Pennsylvania customers.  Instead of fielding sales calls from dozens of new energy suppliers all promising a low rate, customers can instantly log onto SaveOnEnergy.com to put suppliers to the test all at the same time.  Instead of wondering if they’re getting the best rate from their electric supplier , Pennsylvanians using SaveOnEnergy.com are assured that the head-to-head competition only available on SaveOnEnergy.com is driving prices to their absolute lowest, maximizing customers’ savings on their electric bills.

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Only 45 Days Before PECO, Other Pennsylvania Electric Rates Jump

By Amanda Winchester on November 15, 2010

The weeks and months are quickly passing by for Pennsylvania customers at PECO in the Philadelphia area and other utilities staring at looming electric rate hikes starting January 1, 2011, with only 45 days left to avoid the rate hikes by shopping for a lower price with an alternative energy supplier .

But with over 150 different electric generation suppliers competing for Pennsylvanians ‘ business, finding the right one — fast — is a tough job for customers who have never shopped for power before.

That’s why SaveOnEnergy.com is customers’ one-stop shop for savings on their energy bills.  SaveOnEnergy.com’s exclusive exchange portal allows customers to instantly put the power of competition at their fingertips, by getting up to eight competing electric suppliers to compete for the customer’s business .

That drastically reduces the time of combing through multiple rate quotes from the over 100 new electric companies, many of which are comparing apples to oranges when it comes to marketing their rates.  SaveOnEnergy.com gives customers a true apples-to-apples comparison, so customers understand how much savings each new supplier is offering.

More importantly, all the energy providers which compete on SaveOnEnergy.com have been vetted against the highest standards for ethics and customers service.  A lot of new start-ups are competing for Pennsylvanians’ business, but these companies haven’t proven that they can withstand the volatility of the energy market where spiking electric and natural gas prices have put energy suppliers out of business in other markets like Texas. 

Only SaveOnEnergy.com rigorously screens each energy supplier to determine its managerial competency, financial fitness, and long-term stability.  This screening process ensures that customers not only get the lowest electric rate , but a company that will be around for the long haul, and won’t leave customers stranded without electricity .

Vetting all 150 companies in the Pennsylvania electric market would take months for customers to do on their own — and the task would be impossible because many companies are privately held and do not publicize their financial position.  However, the energy industry experts at SaveOnEnergy.com have access to energy suppliers ‘ financials, complaint history, and their overall record of serving customers, and only the cream of the crop get to compete on SaveOnEnergy.com .  This gives customers peace of mind, and makes the new experience of switching to a lower electric rate simple for customers.

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PECO Electric Rates Projected to Stay High Through June

By Amanda Winchester on November 8, 2010

As we’ve noted before, PECO’s electric rates in the Philadelphia area are set to increase up to 40% for business customers who do not shop for a lower-priced energy supplier .

Starting January 1, 2011, PECO’s “Price to Compare” — or the rate business customers pay if they stay with PECO and don’t shop — will jump from about 6.7¢ per kilowatt-hour to 9.47¢ per kilowatt-hour.  This new, higher rate is only set for the first three months of the year, leaving customers who don’t lock-in savings with an alternative electric supplier vulnerable to the volatility of the market.

While the Price to Compare for PECO business customers beyond March 31, 2011 is not set, PECO has provided an estimate of the electric rate for April through June, and it’s more bad news for customers who stay with PECO.  While the rate isn’t projected — at this point in time — to increase again, it’s also not estimated to go down — despite falling electric and natural gas prices in the wholesale market, lower prices from competing energy suppliers , and even falling rates at nearby utilities like PPL.  Indeed, PECO’s Price to Compare for General Service (GS) business customers is estimated to remain at the increased level of 9.47¢/kWh through June 30, 2011. 

That means the only way customers can get relief is by choosing a competing electric supplier which is offering a lower electric rate.  Customers who had been planning to ride out the first part of the year with PECO in the hopes of future savings now have no reason to believe their PECO rates will go down as wholesale prices drop.  PECO customers must take action to save money on their electric bill .

The lowest electric rates in the Pennsylvania market are available exclusively at SaveOnEnergy.com , the only place where Pennsylvania businesses can get energy suppliers to compete head to head to maximize their electric savings.  SaveOnEnergy.com’s exclusive commercial exchange portal allows customers to get up to eight custom, cut-rate electric rate offers tailored to their unique business. 

The SaveOnEnergy.com process takes the work out of finding the lowest cost and most reliable energy supplier , putting competition at the customer’s fingertips.  With SaveOnEnergy.com , rather than hoping that the PECO rate will fall later this year, customers can find immediate savings of 20%-30% on their electric rate, or more, depending on their business.  That can save customers thousands of dollars each year on their electric bill , and can be done in just a few minutes with a few clicks of the mouse.

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Penelec Commercial Electric Rates to Rise 15% January 1

By Amanda Winchester on November 1, 2010

Penelec announced its new electric rates for the period beginning January 1, 2011, when rate caps expire, and most small and mid-sized business customers will pay 15% more for their generation supply if they don’t shop around for a low cost energy supplier on SaveOnEnergy.com .

Penelec, which is the largest utility territory in Pennsylvania by area, announced that the “Price to Compare,” which is the rate customers buying power supply from the utility will pay, will be 7.244¢/kWh for several commercial classes, including Rate GS-Small, Rate GS-Medium, and Rate H.

That compares to a current electric generation rate of about 6.3¢/kWh for small and medium general service customers at Penelec.

Penelec customers include those in much of central Pennsylvania , including Altoona, as well much of the Erie region.

For average commercial customers (using 10,000 kWh per month), the Penelec rate hike can mean paying $100 more on your monthly electric bill.

Metropolitan Edison (Met-Ed) also announced new electric rates on Friday, with rates rising about 6% for small and medium business customers who don’t shop for a competing energy supplier.  While not as high as the Penelec rate increase, the Met-Ed rate increase will still mean paying $60 more per month — or $720 per year — for an average Met-Ed business customer if the customer doesn’t shop for a cheaper electric supplier .

Fortunately, customers can avoid the rate hikes, and save money on their electric bills.  With the Pennsylvania electric market now open to competition, new energy suppliers are now undercutting the utility’s rate and competing with each other to win your business.

SaveOnEnergy.com leverages the power of competition so you can avoid the rate hikes and maximize the savings on your electric rate .  Only SaveOnEnergy.com offers Pennsylvania electric customers a one-stop shop for finding the lowest electric rate, as SaveOnEnergy.com allows customers to get up to eight competing rate quotes with just a few clicks of the mouse.  That simplifies the process of shopping for a new energy supplier , and makes avoiding the rate hike simple and hassle-free.

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Texas Electric Market Set for Sweeping Changes December 1

By Amanda Winchester on October 25, 2010

Starting December 1, 2010, if all goes as planned , the way power is bought and sold in most of Texas will change dramatically, with implications for how Texas businesses buy power from their retail electric providers .

The Electric Reliability Council of Texas (ERCOT) runs the high voltage transmission grid for about 85% of the state, including areas like Dallas, Houston, and Corpus Christi.  ERCOT is currently transitioning the way it operates the system, dispatches generation, and prices electricity from a “zonal” system to a “nodal” system.

The current zonal system is pretty straightforward.  The ERCOT electric grid is broken up into four “zones” based on geography and power flows.  Each zone has a unique price for electricity , representing the cost for power plants in that region to generate power.

The new nodal system will replace the four basic zones with some 8,200 new “nodes” for operating the grid.  Each of these nodes will have a unique price reflecting the cost of local generators near the node, or the cost to transmit power to the node.  In constrained regions of the grid (cities like Houston and Corpus Christi), where the local generation is old and inefficient (meaning expensive) and there’s not enough transmission capacity to import cheaper power , prices at the nodes are expected to be much higher than outlying areas where transmission and generation is plentiful. 

Whether Texas customers actually pay higher prices depends on their contract with their retail electric provider , and how the electric provider takes into account pricing at the customer’s node.

There’s more to the new system than just the introduction of thousands of nodes, however.  One of the biggest changes in a new “day-ahead” market, which allows power buyers and sellers to trade one day into the future.  The idea is to give power buyers and sellers a snapshot of what tomorrow’s market will look like, providing them with an opportunity to line up supplies to cover expected needs, and provide price discovery and transparency.

Participating in the day-ahead market isn’t mandatory, and there’s concern that there may be some barriers which are discouraging retail electric providers from participating in the day-ahead market.  One of the biggest obstacles is the enormous amount of credit which must be posted by a retail electric provider to trade in the day-ahead market.  To avoid collateral costs, some retail electric providers may elect to just operate in the “real-time” market, and opt not to line up supplies a day ahead of time.

But the risks of not participating in the day-ahead market are high.  If a retail electric provider , for example, does not commit enough capacity in the day-ahead market to cover its load, it is exposed to ERCOT’s backstop procurement process, known as Reliability Unit Commitment (RUC).  Generating units brought online under the Reliability Unit Commitment process are generally older, less efficient plants that were not economic to operate based on market conditions, but now have to come online to meet demand.  Because these units are much more expensive, retail electric providers exposed to the RUC end up paying higher costs for power — costs they may attempt to pass onto their customers.

RUC costs are only one possible new pass-through which customers should be aware of in their retail contracts.  The nodal system is bringing a host of new risks to the market which retail electric providers may try to get the customer to bear, such as the risk that prices diverge between points known as “trading hubs,” where the electric provider does its hedging, and “load zones,” which is where the electric provider has an obligation to serve the customer.  If there’s congestion on the grid between these two points, the cost to supply a customer with power may spike — a cost the electric provider may try to pass on to the customer.

In short, the nodal market opens up a new world of risks to Texas businesses looking for the best electric rate , and makes a complicated process even more complex.  That’s where a trusted guide like SaveOnEnergy.com can help customers navigate through the new market, to avoid taking on excessive risks of pass-throughs, and to compare electric rates and contracts for the new nodal system on an “apples to apples” basis.

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PECO Releases Electric Rates for 2011, Customers Can Save Big with SaveOnEnergy.com

By Amanda Winchester on October 18, 2010

PECO announced on Friday its uncapped electric rates for January 1, 2011 when rate caps expire.  Customers who do not shop around for a lower priced energy supplier will end up paying more for their electricity.

Not only will customers who choose a low energy rate avoid the higher PECO prices, their prices will actually go down versus the capped rate, the Philadelphia Inquirer confirms.

For small commercial customers, PECO’s electric generation rate , or “Price to Compare,” will be 9.47 cents per kilowatt-hour.  For medium-size commercial customers, the Price to Compare is 9.37 cents per kilowatt-hour. 

Competing electric suppliers on SaveOnEnergy.com are already beating these prices, providing the opportunity for business customers to save hundreds if not thousands on their electric bills.

Although savings will vary by customer size and usage, a typical business customer can save at least 20% off of the PECO electric rate .  For even smaller-sized businesses, that can translate into savings of nearly $1,000 per year.

As noted previously, large commercial and industrial customers, by default, can no longer receive a flat rate from PECO , and will pay volatile hourly prices throughout the day if they do not shop.  While PECO offers an alternative, opt-in fixed rate of 9.59 cents for these large customers, it is not competitive with the much lower prices available from competing electric companies in the market.

When you shop for a lower priced energy provider , PECO still delivers your electricity over its wires.  PECO no longer generates electricity itself, and only acts as a middle-man.  That’s why it encourages its customers to shop around for a lower cost electric supplier .

“My main message today is ‘shop, shop, shop,’” PECO CEO Denis O’Brien told the Daily Times . “You want to find the best prices you can.”

Finding the best electric rate is easy with SaveOnEnergy.com .  Only with SaveOnEnergy.com can PECO customers get alternative energy suppliers to compete head-to-head for their business, maximizing their savings.  SaveOnEnergy.com offers PECO business customers the ability to get up to eight competing rate quotes from pre-screened and vetted energy suppliers with just a few clicks of the mouse, making saving money a breeze.

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More Than 650,000 Pennsylvanians Choosing a Lower Electric Rate

By Amanda Winchester on October 11, 2010

An additional 30,000 Pennsylvanians have made a choice and have shopped for a lower electric rate , according to the most recent statistics released by the Office of Consumer Advocate.

The vast majority of these new shoppers, who are saving money every month on their electric bill by choosing a new energy supplier, are at PPL Electric Utilities.  Over one-third of PPL residential customers have now switched to a competing energy supplier , while migration among commercial customers (41%) and industrial customers (80%) is even higher.

In total, more than 650,000 Pennsylvanians have made a choice in who supplies them with electricity, under the state’s competitive electric market.

The number of Pennsylvanians choosing a lower electric rate through competition is expected to skyrocket starting January 1, 2011 when rate caps come off at the remaining utilities, including at PECO in the Philadelphia area.  Customers who don’t choose a new electric supplier are facing rate hikes of up to 30% as rate caps come off.

SaveOnEnergy.com has helped thousands of customers save money on their electric bills, and can help Pennsylvania business and residential customers avoid the looming rate hikes by finding them a low electric rate .

Although shopping for an electric supplier is new to most Pennsylvanians , the shopping statistics show that customers quickly get comfortable with choosing a new energy supplier , especially when it means savings of hundreds, if not thousands, of dollars on their electric bills.

When you shop for a lower electric rate , the only thing that changes is that your electric bill gets smaller.  Your local utility, whether it be PECO, PPL, Met-Ed, Penelec, or another company, will still deliver your power, and will respond to outages and other problems as they normally would.  The utilities are no longer in the business of generating power and only distribute it, and they encourage customers to shop around for the best deal possible.

Those best deals are on SaveOnEnergy.com , which is Pennsylvanians’ only resource to put the power of competition at their fingertips.  Only SaveOnEnergy.com allows customers to pit up to eight competing energy suppliers in head to head competition with just a few clicks of the mouse.  This maximizes your savings on your electric bill, but also makes shopping for a low electric rate quick and easy, as SaveOnEnergy.com is your one-stop shop for finding the lowest electric rates .

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