MetEd New Default Service Price to Compare for Sept 1 Announced

Metropolitan Edison of Pennsylvania announced the new default service Price to Compare for the period from September 1, 2013 to November  30, 2013.  You can read the entire rate filing here.

The price for all commercial electricity customers will be $0.08048/kWH, which includes the 5.9% GRT.

Customers who choose to obtain a fixed price contract, as of the date of this posting, can obtain prices that are 5.3% lower than the new rate, to eliminate all risk of price increases.

To obtain a commercial price quotation, click here.  For a small business price quote, click here.

Ohio PUCO accepts results of FirstEnergy auction

COLUMBUS, OHIO (Jan. 23, 2013) – The Public Utilities Commission of Ohio (PUCO) today approved the results of FirstEnergy’s sixth wholesale auction that will ultimately determine its retail generation service rates through May 2016.

During the 17-round auction, held Jan. 22, 2013, four competitive suppliers submitted winning bids for the opportunity to provide electricity to FirstEnergy customers. The auction resulted in an average clearing price of $0.05917 per kilowatt hour for the delivery period June 1, 2013 through May 31, 2016. The results will be blended with previous auctions, and four upcoming auctions to establish retail generation rates from June 1, 2013 through May 31, 2016.

CRA International served as the independent auction manager, and Boston Pacific Company, a consultant retained by the PUCO, monitored the auction process. The names of the winning bidders will remain confidential for 21 days.

Customers continue to have the opportunity to consider competitive options to meet their electricity needs, including shopping for an alternate supplier or joining a local government aggregation group. More information about how to choose a supplier is available at www.PUCO.ohio.gov. The PUCO’s Apples to Apples rate charts provide customers with a snapshot comparison of current electric supplier price options and contract terms. The PUCO updates the charts on a regular basis and verifies each supplier offer to ensure accuracy.

Penn Power New Price to Compare

For the three month period beginning December 1, 2012:

General Secondary – Small (GS) 4.529 cents per kWh

General Secondary – Volunteer Fire Company 5.881 cents per kWh

General Secondary – Volunteer Fire Company Time of Day Option 6.922 cents per kWh,

On-Peak 5.308 cents per kWh, Off-Peak 5.793 Average ¢/kWh, based on 30% On/70% Off split

General Secondary – Medium (GSM) 4.529 cents per kWh

Remember: Three month pricing exposes you to more price risk than a fixed price contract. If you want to control your energy cost, paying a small insurancepremium to eliminate upward price movement may be an attractive option for you.

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.