Better Cost Control now licensed in New Hampshire

Better Cost Control, a leading electricity and natural gas procurement adviser for companies in the deregulated states, has just received license approval by the state of New Hampshire’s Public Utility Commission.

Based in Newton, Massachusetts, Better Cost Control has been providing its energy procurement services since 2002.  Their experience  and expertise puts them in the position to get customers the best terms on their energy costs. They do this by finding prices that are not advertised and negotiating with energy supply companies, some of whom only work with brokers like Better Cost Control.

By working with energy suppliers throughout the U.S. they are well aware of each supplier’s individual strengths and weaknesses. 

If you have ever encountered an energy contract, you know they are highly complex. The devil is in the details; what seems at first to be the lowest price may, in the end, actually be higher than you thought. The Better Cost Control team negotiates hundreds of these contracts each year. They know what to look for.

Services are now offered through independent agents in these states:

  • Connecticut
  • Delaware
  • Illinois
  • Maine
  • Maryland
  • Massachusetts
  • New Hampshire
  • New Jersey
  • New York
  • Ohio
  • Pennsylvania
  • Rhode Island
  • Texas
  • Washington, D.C.

For more information or for custom pricing, call 617-332-7767.

Natural Gas Prices – Rising

New Jersey Electric Rates to Change

The NJ State Board of Public Utilities on Thursday approved the results of state’s annual electricity auction. It sets the wholesale electricity prices that the state’s electric utilities will pay and pass through to all New Jersey customers.

For three of the state’s four utilities, including Jersey Central Power & Light and Atlantic City Electric, there will be a  decrease in supply rates on June 1.  Rates for for PSE&G will be essentially the same.

Average JCP&L ratepayers will see a decrease of 3 percent; Atlantic City Electric customers will see a decrease of 5.35 percent and PSE&G customers will see their average rates increase by .05 percent.

The price of wholesale natural gas, which powers electric plants, is lower than in 2010. Since 2009, average energy costs for  small and medium-sized businesses have fallen about 30 percent, the BPU said.

But whether prices continue to fall in future years is unknown. “We have seen relative price stability in the last couple of years,” Hanna said. “What is going to happen in the future with natural gas prices is very difficult to predict.”  This is why fixed price contracts provide the opportunity to lock in long term fixed prices to protect from increases.

The value of both electricity auctions was about $7 billion, which represents approximately 8,700 megawatts of electric generating capacity.

First Energy files for Default Service Price to Compare

First Energy just filed for new Default Service rates in Pennsylvania.  These will be the new Price-to-Compare for all commercial electricity customers to use when comparing competitive electricity price offers.

Assuming PUC approval, rate effective September 1, 2012 to November 30, 2012 will be:

MetEd Commercial: $0.07181 per kwh

Penelec: $0.06541

Penn Power: $0.05550

As of this writing, fixed priced electricity contracts through Better Cost Control will save the customer money for the period that First Energy filed.

You may wonder why the dramatic price difference between Penn Power and the other two companies.  This is due to the months that they contracted their tranches of electricity. Penn Power has only two tranches that were purchased at auctions in  Jan 2012 and March 2012, when prices were at their lowest.  The offer prices are based on a weighted average of the different contract periods:

MetEd: Tranches purchased May, 2011, October 2011, Jan 2012, May 2012

Penelec: Tranches purchased May 2011, Oct 2011, Jan 2012, Mar 2012

Penn Power: Tranches Jan 2012 auction and March 2012 auction

To obtain a quotation for electricity or natural gas, contact Better Cost Control.

Competitive Electricity Positively Impacts the Illinois Economy

There has been a lot of discussion about the positive impacts of the competitive electricity market on the Illinois economy. The benefits have been twofold:

Competition Can Drive Down Prices
The competitive electricity market brings structure and discipline around electricity costs. This enables customers to switch to a competing supplier who can offer the most competitive supply services, or provide alternative energy solutions. Essentially, competition can drive down prices, which has a direct impact on the local Illinois economy and the health of businesses, universities, hospitals, etc.

Competition Spurs Job Creation
With more than 20 active competitive retail suppliers in the Illinois marketplace, thousands of jobs have been created to support the energy industry. Retail suppliers have established themselves in the Illinois market by opening offices and hiring staff to participate in the competitive markets. Businesses and institutions that have energy choice also have increased budget certainty and the ability to shop for lower energy costs—forces that make it easier to create jobs.

Brokers Help Companies Make Good Decisions

Despite the fact that Illinois has been deregulated for ten years, the use of an electricity broker helps customers make the best decisions.  Since electricity pricing changes daily, it is a challenge to obtain accurate and comparable price quotations from a large number of suppliers, since prices must be collected at the exact same time.  Then there is the complexity introduced by the varied contract language and terms that often result in a different invoiced price than a customer expects.  The use of an experienced broker helps sift through all this confusion and assures that the customer obtains the best electricity price for the desired contract term length and financial goals in mind.