Our electricity use tends to peak in the winter, so now is a good time to shop for who makes your electricity.
About a third of all residential customers in Pennsylvania already shop for the company that generates their electricity.
By doing this in Pennsylvania or in New Jersey, you have the potential to save money on your power bill each month. The more power you use, the more money you can save.
Choosing the company that creates your power can save you money.
69 News Meteorologist Drew Anderson says he saves about $7 to $10 each month by choosing who makes the power for his small household.
The power company you have now will always deliver your power. So, even if you pick a new company to generate your power, you'll still get a bill from PPL, Met-Ed, Peco, or Penelec.
A look at a PECO energy hub in Chester County.
What would change is the electricity generation section of your bill. There, you'll see the logo, rate, and electricity information for the company you pick to make your energy.
Your electricity bill is already broken down into two sections: a price for the company that makes your power and the price to carry that power to your home.
Now, if you want the lowest price for the electricity generation portion of your power bill, "understand the fact that you’re going to be shopping more often” says Nils Hagen-Frederiksen from the Pennsylvania Public Utility Commission.
That’s because the companies who offer rates lower than your power company typically offer them for only a short period like 3 months, 6 months, or a year.
In fact, some of the cheapest prices are often a 3 month agreement.
These are some sample prices offered by companies that create power. Notice how they're short-term agreements. This is a snapshot of a papowerswitch.com search.
At the end of those 3 months, the price often jumps up. In some cases, it drastically increases.
So, if you want the cheapest price for your electricity generator, you’ll need to change to a new company every few months. The rates you see when you shop are often only introductory rates.
These companies are required to send you two notices as the end of your price agreement term ends. You'll get a 60 day notice and then a 30 day notice in the mail.
A look at a electricity generation company price agreement.
“If you shop and sign a contract and forget about it, your prices are eventually going to change. Our best advice is to put a reminder in your own personal calendar for a few weeks before the contract ends” says Neils. That way, you're prepared for the price change or you know it's time to look for a new power generation company with a cheaper price.
The PAPowerSwitch website makes it very easy to shop for a electricity generation company.
You enter your zip code and then click for residential (home) or business rates.
You can sort these rates by price, and you can sort for companies that offer:
-
A Fixed Price
-
No Cancellation Fee
-
No Monthly Fee
-
No Enrollment Fee
Meteorologist Drew Anderson says he checks all of those boxes when he shops. "I like having no cancellation fee because if I happen to see a company with a cheaper rate before the end of my 3 month or 6 month term, I'll switch to them right away to increase my savings."
A sample of one way you can use PAPowerSwtich.com to search for an energy creator.
If you live in New Jersey, it's not as easy to search for a price.
Instead of having all the rates right in front of you, New Jersey gives you links for each company. You'll then have to go to that company's website or call that company to see what rates they're offering.
A sample of a search for a power generation company on New Jersey's website: nj.gov/njpowerswitch.
If you live in Pennsylvania and you see a rate on the PAPowerSwitch website you like, you can click on that rate for more information. This will take you to that company's website where you can sign up.
Just be sure to look over all of the terms of that company's price agreement.
It's a pretty simple process to shop for your power supplier in Pennsylvania, and the whole process to shop and order a price can take as little as ten minutes. It'll take a little longer in New Jersey.
The PAPowerSwitch website is run by the Pennsylvania Public Utility Commission, a state agency. The NJ Power Switch website is also run by the state.
These organizations also regulate the price your power company charges for power generation. This is the price you're charged if you don't choose to shop for a different power generation company.
A look at a PECO power facility.
Power companies like PPL, Met-Ed, and Peco don't make a profit on the price for your electricity generation, but that price will change few times a year, every 3 or 6 months, depending on the power company.
In fact, the prices were recently updated, back on December 1. The prices change because the costs to generate electricity change.
Now, "it’s not always all about price," says Nils. "You can shop for renewable energy. Maybe you’re looking to shop with a social conscience.“
You can pick an electricity generation company that creates energy with only renewable sources like wind or solar.
A look at a solar farm. Credit: energy.gov
“Renewable prices have continued to come down and there are actually some renewable offers out there right now that are as competitive as fossil fuel generation" says Nils.
If you use natural gas in your home for heat or cooking, you can also pick your natural gas supplier. This is also part of your power bill if you use natural gas.
A look at the natural gas portion of a power bill from PECO.
Picking a natural gas supplier is the same process as picking your electricity generation company. The rates are on New Jersey's website and PAGasSwitch.
Natural gas rates often have more competitively priced long-term agreements than electricity generation.
Choosing the company that creates your power or supplies your natural gives you options.
From price stability and long-term contracts to the absolute lowest price to renewable energy, use New Jersey's website or PAPowerSwitch and or PAGasSwitch to figure out what options work best for you -- if you don't mind investing the time and effort to shop.
"save" - Google News
December 06, 2020 at 10:46PM
https://ift.tt/3gl6dUa
Save money on your power bill by switching who makes your electricity - WFMZ Allentown
"save" - Google News
https://ift.tt/2SvBSrf
https://ift.tt/2zJxCxA
Bagikan Berita Ini
0 Response to "Save money on your power bill by switching who makes your electricity - WFMZ Allentown"
Post a Comment