Join us for our third Google Hangout as we have a conversation about state laws intended to help people weigh the risks and benefits of choosing a third-party electric supplier versus staying with the standard offer provided by your local utility, Eversource or United Illuminating.
Guests are Rep. Lonnie Reed, D-Branford, and Rep. Tim Ackert, R-Coventry, the co-chair and ranking member, respectively, of the Energy and Technology Committee, and John Erlingheuser of AARP. The host is Mark Pazniokas of CT Mirror.
The General Assembly has passed laws requiring greater transparency in the retail electric market and banning variable rates – the low teasers that some retailers used to get customers, only to quickly raise their rate. Comparison shopping is now possible on the official rate board at the state’s web site, EnergizeCT.com.
Shop carefully. Some retailers are offering rates cheaper than the standard offer, but they charge an enrollment fee of up to $149 that can quickly eat up savings, which might be just a few dollars a month.
The standard offers of Eversource and UI are dropping on July 1, meaning most residential customers would have to shop carefully to find savings in the retail market.
You can only shop for the generation supply portion of your bill, which is about half your monthly electric costs. The rest is a set price to cover the cost of the distribution network.
In addition to the rate board, take a close look at your electric bill. If you are doing business with a third-party retailer, the bill will compare the retailer’s price to the standard offer and show the rate for the next billing cycle.
This is the third of three Mirror Google Hangouts, sponsored by AARP, dealing with issues of public interest.