Save Money, Pick Your Electric Provider

Save Money, Pick Your Electric Provider

Back in November we wrote a post about having a Home Energy Audit done on our home. It was free, fairly fast…and eye-opening. It revealed several “illegal points of entry” for cold air to come rampaging into our otherwise snug little abode, and once we got those little buggers sealed up our energy efficiency improved quite a bit. But, there is still room for improvement in our home’s energy usage.

A couple of weeks ago I got an email that piqued my interest. It explained that if you are currently a customer of Connecticut Light & Power (CL&P) or United Illuminating (UI), you are NOT obligated to keep them as your electricity provider and showed how to save money by switching to one of the many providers of wholesale electricity available to state residents. The one used in the example was Viridian Energy, a relative newcomer to the cast of companies providing electricity to Connecticut residents.

During my research into switching electric providers, I was surprised to learn that only about 16% of Connecticut residents have chosen an electric supplier. This was particularly surprising given the fact that CL&P and UI offer the most expensive electricity in the state at about 12.4 cents per kilowatt hour (kWh). Of the 40+ electric suppliers and aggregators currently available, none of them charges more than 12 cents per kWh, and Viridian Energy is the lowest at 9.79 cents per kWh. That’s about a 21% savings over CL&P and UI, which could mean a significant savings over time.

There’s Always a Catch…

There is one catch to this, though: if you live in Wallingford (as we do), you stuck with Wallingford Electric as your source of electricity. I mean that in a good way, though. Wallingford Electric has some of the lowest electric rates in the state, and is currently in their Winter billing cycle (from November to April) with rates at 9.63 cents per kWh for usage up to 700 kWh, and 9.4 cents per kWh for anything over that. During the Summer billing cycle the rates go up to 10.93 cents per kWh for the initial 700 kWh, and 11.6 cents per kWh for additional usage.

If you’re currently a customer of CL&P or UI, do yourself a favor and head over to the CT Energy Info web site and compare your current rates to what’s available through the other providers. There’s a ton of info there to help you make an intelligent decision and you just might end up saving a few bucks, too.

In these uncertain economic times, that’s a powerful incentive!