Supplier Spotlight: American Electric Power

American Electric Power Company, Inc. (AEP) is a public utility holding company that engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers.  AEP is one of the 80 companies in the “Electric Utilities” industry. Compared to its competitors, AEP has lower earnings, but higher gross revenue. Their service area consists of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.  Most of AEP’s shares are owned by institutional investors, which indicates that it is poised for long-term growth. In a Week Herald article AEP is said to beat its competitors on 8 of 15 factors including profitability, institutional ownership, dividends, valuation, earnings, analyst recommendations and risk.

AEP is just one of the suppliers we currently work with to help our customers stabilize their electricity and natural gas costs. Third party suppliers allow customers in deregulated states to compare pricing from multiple sources. Looking at your utility bill you can often find a Price To Compare. This price will tell customers how much the utility is charging for energy generation and if you find a supplier with a lower cost then you will save money. Everyone enjoys saving money, but the ability to stabilize energy costs is often very advantageous for commercial energy customers as well. Signing a low rate fixed price contract can give businesses the best of both worlds.

Working with Better Cost Control will allow business customers to shop the market without having to do any of the leg work. All they need to do is send us their most current utility bill and we will get pricing from a number of suppliers to see if they could be saving money or if there would be a better rate to lock in now to avoid market volatility later.  We offer complimentary no obligation quotes, so feel free to reach out to us to see how we could help your company. Click here to find out more.

 

 

Connecticut Electricity Customers Will Have Sticker Shock This January

Customers in Connecticut will be paying a higher rate for their electricity this January and there could be more price increases to come. State regulators announced that Eversource and United Illuminating will be increase their generation rates to make “investments in the electric system”.

Eversource is set to increase its Small C&I Standard Service rates by about 12%. In addition, Eversource is also requesting a three-year, $336.8 million increase that would rise the average consumer’s electricity bill by 6.79 percent. Listed below are their published rates through June 2018.

CL&P Standard Service Rates, Jan 2018 – Jun 2018 (¢/kWh)

Rate 1            9.078

Rate 5            9.078

Rate 7

On-Peak      11.701

Off-Peak      8.201

Rate 18           9.304

Rate 27

On-Peak      11.353

Off-Peak      8.353

Rate 29           9.304

Rate 30           9.304

Rate 35           9.304

Rate 37

On-Peak      11.353

Off-Peak      8.353

Rate 40           9.304

Rate 41 (less than 500 kW)

On-Peak      11.474

Off-Peak      8.474

Rate 55 (less than 500 kW)

On-Peak      11.474

Off-Peak      8.474

Rate 56 (less than 500 kW)

On-Peak      11.474

Off-Peak      8.474

Rate 115          9.304

Rate 116          9.728

Rate 117          9.728

Rate 119          9.314

United Illuminating is also set to increase their rates. Their GS standard service rate will rise from 7.54 cents per kWh to 9.4509 cents per kWh. Listed below are the rates customers can expect to pay.

UI Jan-Jun 2018 Standard Service Rates (¢/kWh)** Rates include Bypassable FMCC **

Rate GS:      9.4509

Rate GST

On-Peak:   11.3776

Off-Peak:   8.3776

Rate LPT

On-Peak:   11.5397

Off-Peak    8.5397

Rate M:       9.8006

Rate U:       9.8006

In times like this, customers can be left wondering what they can do to combat these high rates and take control of their energy expenses. One option is to contract electricity through a low priced fixed rate long term contract. By choosing a fixed price contract for a long-term, customers can avoid facing price increases for the duration of the contract. Budgeting energy expenses will also be easier especially for commercial customers who need to control their costs. If you are interested in locking in a fixed price contract for your business please reach out to us for a complimentary price quote to see what you could save. Click Here!

Eversource MA Customers May Be Paying More in January

Eversource electricity customers in Western Massachusetts might see an increase in their rates starting in January if the state approves the requested rate increase. Although the company claims they will not see any direct profits from the rise in price, customers will notice the extra cost to them.

Rates for commercial customers will be as follows, if approved.

Fixed Price Option: January 1, 2018 – June 30,2018

Small C&I     11.559 cents per kWh

Medium & Large C&I     12.396 cents per kWh

Variable Price Option: January 1, 2018 – June 30,2018

JanuaryFebruaryMarchAprilMayJune
Small C&I13.65313.96911.17810.0299.6319.862
Medium & Large C&I13.14313.28310.637N/AN/AN/A

 

Utility rate increases and the volatility of the market in general is enough to make customers wonder what options they have to take control of their costs. The best solution to this time of uncertainty is signing a long term fixed price contract, that will allow consumers to purchase energy at a fixed price for the duration of the contract. This takes out the worry that rates will increase and better allows businesses to budget for upcoming energy expenses.

If you are interested in helping your business fix energy costs and take back control of your expenses, but don’t know where to start feel free to reach out to Better Cost Control. We have been helping companies like yours save on energy procurement since 2002. We know the market and work with many suppliers to get you the best price possible. Feel free to contact us for a complimentary quote with no obligation to your business. Reach out today to help control your costs and gain peace of mind to get back to the important matters- your business.

The Reason Energy Utility Companies are in a Panic

Commercial businesses are often looking for ways to cut costs. One of these costs is energy procurement. Every business needs their lighting and heating, but often are looking for ways to spend as little as possible. Meanwhile, Utility companies are looking to make high profits through selling energy.

Currently utility companies are seeing a flat line in sales and many are starting to worry about commercial customers who are looking to behind-the-meter storage solutions. The only way for utility companies to increase sales levels are to raise the price or the demand charge. By business customers having solar powered batteries to run during specific times their demand charge decreases. This has many utility companies are worried about plummeting profits.

An increase in the price for each kilowatt-hour sold, which needs to be approved by regulators is not ideal for utilities. Conversely the demand charge is a measurement of the highest average 15-minute electrical flow during the billing cycle. If the customer uses a lot of power during a short period of time then these charges will be a larger part of their bill and vice versa. Currently this charge is estimated to be between 30 and 70 of commercial customers’ bills.

According to a recent white paper published by the DOE’s National Renewable Energy Laboratory and the Clean Energy Group for about 28 percent of commercial customers using solar powered batteries to cut their electricity consumption would be advantageous. This not only would decrease electric usage, but also revenue collected from demand charges.  This shift could decrease a commercial company’s bill by as much as $2,000 a month according to one study of a theoretical Big Box retailer.

With these potential decreases in profits it’s no wonder that Utilities are worried about the future of the energy market, while commercial customers are continuing to look for ways to save costs.

 

You can read more at http://www.theenergycollective.com/djwamsted/2413367/storage-puts-utilities-big-bind-demand-charges

 

National Grid Rhode Island To Raise Electricity Rates

Gold Round Coins

Rhode Island electricity customers may be seeing an increase in their monthly bill if National Grid’s rate increase is approved. National Grid is proposing to raise electricity rates by 53 percent, bringing the rate to 9.5 cents per kilowatt hour. This increase leaves many business owners wondering about future energy costs and looking for ways to ensure they have the proper budgetary plan in place.

Being able to properly budget for energy costs will allow your business to not be subject to the ever-changing market at hand. This is where Better Cost Control can help. Working with Better Cost Control allows businesses the ability to sign a fixed price short to long term contract that allows for easier planning of future energy costs. We work with many suppliers to get our commercial clients the best price. We do the work to understand the prices being offered and not worry about unexpected price increases.

Reach out to us today to see what rates your business qualifies for with a free, no obligation quote.

Source: http://www.thewesterlysun.com/news/state/10648373-154/national-grid-requesting-increase-of-53-in-standard-electric-rate.html