Electricity customers in New York City are looking for lower rates after a Con Edison rate hike that took effect in February. NY City consumers who receive their electric bill from Con Edison, and who are not currently on a competitive electricity rate plan, will see their rate jump to an average of $0.1637 cents per KWh on their March bills for the service month of February. The high Con Edison rate is 60% higher than the lowest Con Edison electricity rate offered through New York electricity choice laws. By entering into an electricity contract with a competitive energy supplier a customer can replace the high default rate with the rate being offered by their chosen supplier.

Con Edison offers a default variable rate for electricity supply for their customers who do not shop the energy choice market. The variable rate leaves customers at the discretion of the market which can bring about big surprises from month to month. In contrast, locking in a low fixed electricity rate gives the same consumer stability in their electric bill amounts. The customer who locks in a fixed rate for 12 months or more may not save money versus the Con Edison variable rate very single month, however they will at least know what to expect and not be thrown any surprises that can effect their overall budgets.

With the implementation of New York electricity choice, Con Edison’s main role is to deliver power to homes and businesses through the regulated lines and wires. When purchasing power for their default paying customers, they simply buy what is available on the wholesale market; they are not looking out for their customers best interest as this is not their responsibility. This strategy can often lead to customers paying much more for electricity than they should, as will be the case for thousands of NY City consumers on their March electric bills.

NY City electricity customers who have not yet selected a electricity rate from a competitive supplier should do so immediately in order to protect themselves from high variable electric rates that can hit at any given month. All rates offered below are from suppliers who are regulated by the New York State Public Service Commission.

Electricity bills in the Connecticut Light & Power service area are increasingly being reduced due to competitive power rates being offered by alternative CL&P energy suppliers. Customers are lowering the price they pay for electricity by choosing to sign electricity agreements with alternative energy suppliers who are licensed by the state of Connecticut. Choice awareness among the CL&P residential class has expanded in recent months due to rising generation supply rates that are offered by CL&P. Customers who do not choose an alternative CL&P energy supplier pay a default rate for their electricity; that rate recently saw a 25% increase.

Alternative energy suppliers have entered the Connecticut electricity choice market in hopes of gaining market share by offering electricity rates that are lower than the CL&P default price. Energy shoppers are becoming more aware of their options as alternative electricity suppliers have increased their marketing budgets. The infusion of new energy suppliers are helping to educate a larger pool of customers so that they can take advantage of the best CL&P electricity prices being offered that can result in substantial monthly savings.

Whenever rates see a significant increase consumers start to look for alternative solutions. In energy choice states such as Connecticut, the clear alternative is to shop around for a lower electricity rate. Connecticut people who are switching to alternative suppliers for the first time are often surprised as to how easy the process is and wonder why they haven’t done it sooner. The CL&P basic generation charges, the default rate, had remained stable over the last year before January 2015. With stable prices uninterested customers had little incentive to learn about electricity choice and shop the market. Now with savings above 30%, the incentive is there for customers to learn about alternative energy suppliers and their offers.