Penn Power Announces New Price to Compare

Penn Power has announced the new default service Price to Compare (PTC) for the period from September 1, 2013 to November 30,2013. The entire rate filing can be found here.

The price for commercial electricity customers will be $0.05971/kWH, which includes the 5.9% GRT.

As of the date of this posting, customers who obtain a fixed price contract can obtain prices that are 2.4% lower than the new rate in order to eliminate all risk of price increases.

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

Penelec Announces New Price to Compare for September

Electric Meter

Penelec’s Price to Compare is the total of the Generation Charge + Alternative Energy Portfolio Standard + Transmission Charge.  You can read the entire filing by clicking here.

The default service Price to Compare has increased for commercial customers, but decreased for residential customers, as follows

For the period September 1, 2013 through November 30, 2013

  • General Service (GS): .07612¢/kWh

As of this date, customers contacting for a fixed rate of $0.0717 will save 5.8% for the above period, while eliminating the chance of rising prices for the term of their contract.

Remember that the Price to Compare changes every three months.  You have no way of controlling your electricity costs without obtaining a competitive fixed price contract.  Contact us for more more information on electricity supply for your non-residential accounts.  Also consider the benefits of Renewable Energy Credits.

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.

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.

Duke Energy Ohio Intends to Increase Distribution Rates for Early 2013

Yesterday, Duke Energy Ohio has filed a notice with the Public Utilities Commission of Ohio (PUCO) with the company’s intention to increase distribution rates for electric service customers by $86 million and natural gas customers by $44 million.

The decision will be made at a hearing this mid-July, and if approved commercial and industrial customers will see an average price increase of 4.6% for electricity and 3.7% for natural gas.  These prices are to be in effect starting early 2013.  The increase in distribution rates will accommodate for the company’s recent investments in projects to improve the reliability of the distribution system and generation processes.

Duke officials said that even if this testimony is approved by PUCO, on average consumers would still be paying less for their electricity and natural gas.  This is due to the pressure of the market causing a trend of lower market prices.

Judie Janson, Duke Energy Ohio president, went on to add that Duke customers would even remain among the lowest paying customers in the state.  As of this writing, prices from a variety of Better Cost Control competitive suppliers in Ohio are lower than the prices that will be offered by Duke Energy.  We recommend using an electricity broker to obtain the best prices and contract terms.

To learn more about a fixed price electricity contract to protect your company from price fluctuations, contact us via email or call 800-454-0027 x150.

New Jersey Borough Reduces Their Electricity Costs by $43,000

Eatontown  Borough officials expect to save approximately $43,000 by switching to a third-party electrical supplier this year.

The Borough Council passed a resolution during a special meeting on April 25 awarding a bid to a competitive supplier, to replace Jersey Central Power and Light (JCP&L) as the electrical supplier for the municipality.

“JCP&Lwill still deliver the power, it will still come through their lines and they will maintain those lines. Liberty Power will be generating the actual power that we will be buying,” George Jackson said in an interview onApril 27.

“Basically the only difference that will be seen on our bill from JCP&L is it will show that the provider is Liberty Power.”

The borough changed the provider after learning it would provide a cost savings to the borough, he said.

“When you go through a third-party supplier they can offer a lower rate, which was the case here,” Jackson said.

The borough will pay an estimated $75,000 a year for electricity, a $43,000 decrease from the $119,000 it was paying JCP&L.

“We were paying 11 cents per kilowatt hourwith JCP&L,” he said. “Nowwe are getting it at 7.29 cents.”

New URL for Residential Electricity in CT, NY and PA

If you would like to save money on residential electricity, visit this new URL: http://www.bettercostcontrol.com

You’ll be surprised how much you can save on your electricity.