Substantial savings are available for Rhode Island residential electricity customers who receive their electric bill from National Grid and are still on the default price to compare rate. Â Rhode Island electricity choice provides consumers the option to either pay for their power supply directly to their utility, or to purchase it from an alternative competitive supplier. Â If a competitive Rhode Island electricity supplier is chosen, the rate that the supplier and customer agree to replaces the utility default price.
National Grid, the largest electric utility in Rhode Island, is currently charging $0.08179 for their default price to compare rate. Â By taking the time to shop, customers can find alternative Rhode Island electricity rates that are well below the default National Grid price. Â The current Rhode Island National Grid default rate will stay in effect through the end of March 2017. Â Based on historical rate information, it is likely the default rate will increase in April as the Rhode Island National Grid default price has not been below $0.08 since December 2013.
Shopping for lower Rhode Island electricity rates is an easy way for consumers to lower their electricity bill without having to invest money in new equipment or undergo expensive and time consuming energy efficiency projects. Â The new competitive electricity price simply replaces the National Grid default rate, with the difference producing a lower electricity bill. Â Rhode Island National Grid continues to control the power lines and wires and deliver power to homes and businesses through the state through regulated distribution charges managed by the state. Â While the purchase of power supply has been deregulated and open to customer choice, the delivery of that power remains regulated. Â This structuring keeps the power line reliability constant while providing a dynamic market for consumers to shop and locate a rate structure that best fits demands.
Currently several competitive offers exist in Rhode Island that are below the National Grid price to compare default rate.
Electricity choice continues to provide lower price options for residential customers who receive their power from BGE. The creation of a competitive electricity market has created an abundance of electric rate options that give consumers an alternative to the BGE default price to compare rate. Electric bills in the BGE service area are increasingly being reduced as a result of Maryland electricity choice laws that allow consumers to shop for competitive power rates.
BGE residential customers who do not shop the electricity choice market for lower rates pay a default rate for their power supply through BGE. The default rate is determined through an auction process where competitive electricity suppliers compete for the ability to service a bundle of the default paying customers. An individual customer can take that default rate, labeled the price to compare, and search for a lower competitive electricity rate. Once selected, the competitive rate replaces the default rate on the monthly electric bill, creating savings if the competitive rate is below the BGE default rate.
BGE electricity choice rates have remained lower than the price to compare for all of 2014. This has resulted in an increase in the participating level in Maryland electricity choice. Those customers who have not taken the time to learn about electricity choice are paying more than they have to on their monthly BGE electric bills.
PSEG recently announced the prices they will charge for summer of 2014 for generation and transmission service to customers who have not chosen a competitive supplier and are on the basic generation service (BGS) rate structure. The BGS prices will increase by 11% for residential customers on the the first of June, 2014 when the summer rates for all New Jersey electricity users on default service go into effect. Consumers who have taken advantage of New Jersey electricity choice will not have to worry about the increase in the BGS rates, which are default electric rates for people who have not taken the time to shop the competitive energy rate market.
Basic generation service rates charged by PSEG are determined through an auction process where competitive electricity suppliers bid for the ability to charge a portion of the BGS customer pool. Customers receive on rate structure for the summer month period which begins on June first every year and goes through the end of September, and then a second non-summer period that starts on October first and goes through the end of May of the following year. Since October 1, 2013 residential PSEG electricity customers on BGS rate class have been paying $0.114457 per KWh. On June 1, 2014 a customer will pay $0.1270 per KWh for all consumption above 600 KWh which represents an 11% increase.
In an effort to avoid the price increase, PSEG residential electricity customers who are currently on the default rate are looking to the competitive market to find a lower electricity price. Consumers should be weary of variable rate offers as companies often market a low introductory rate that goes up after the first month to prices that are even higher than the default BGS rates. In contrast, low fixed rates can offer respectable savings for PSEG customers this summer while offering protection against potential future increases by the utility.
Below are competitive PSEG rates being offered by electricity suppliers who are licensed by the New Jersey Board of Public Utilities. All rate plans are updated everyday.
Electricity customers in Dallas are finding ways to reduce their power bills as a result of Texas electricity choice laws that allow consumers to shop for competitive power. States that have deregulated their energy markets are seeing an increase in the number of participating electricity shoppers due to rising wholesale energy prices across the nation. Competitive electricity markets create an abundance of electricity rate options for customers to make personalized choices. Dallas electricity shoppers are becoming more aware of their numerous options as electricity providers have increased their marketing budgets in an attempt to increase their piece of the power pie.
Dallas electricity choice has brought greater flexibility to the residential electricity market. Taking the time to compare Dallas electricity rates can provide a number of benefits to consumers. Customers who have not taken the time to shop and compare electricity providers in over a year will most likely find savings above 20%. Many Dallas consumers who signed electricity contracts years ago and forgot to renew find themselves on high variable rates. These customers often forget to enroll in a new fixed rate plan until one day they get a bill that is unbearably high due to a rise in the wholesale power market which is where variable pricing is formulated. Taking the time to simply compare prices and find the lowest electric rates in Dallas before a contract expires will prevent this scenario from taking place.
Competition in the electricity market also forces energy companies to compete for customers by improving their customer service. For some customers finding a power company who has superior customer service and billing options will be the reason they choose the supplier; they are willing to pay a slightly higher price for power in exchange for a better customer experience. Some energy companies will try to win customers by offering rewards programs and incentives similar to the credit card industry. When comparing Dallas electricity rates, customer service and the quality of the electricity provider’s website should be taken into account.
Finally, the terms of the contract are equally as important as the actual price. Is there a monthly fee? What is the early termination fee? How long will this rate be locked in for? Depending on the consumer’s individual desires, the answers to these questions can help determine the right electricity rate plan. Competition in the Dallas electricity market has produced the right plan for almost anyone. Compare Dallas electricity rates below from a variety of providers and plans.
