Have you looked at your electricity bill?

TO our Small Business Clients, Clients, friends and family in MA:

As we looked at our business clients, clients who just own a home, and people who have rental properties, we realized that Energy has changed and we wanted to bring you the latest information   I thank Jacqui D’Angelo, from Gulf, headquartered right here in Metrowest MA, for helping us put together the following information.  And of course, if you own a business, it’s significant.  But when we look at our bills for our own residences, we realize this is not just a “business owner” issue, it impacts every single household in MA too.

Source: Jacquelyn D’Angelo.  Gulf Electricity

Skyrocketing Electricity Prices  How to get a competitive rate?

It has been hard to miss all of the headlines about raising electricity costs this winter. With winter fast approaching New England residents are wary of what their home heating bills will be this winter. Small businesses will feel this hike even more drastically than the average home. National Grid announced that their electricity rates could increase up to 37% this winter, translating to an estimated jump from $90 a month to $120 a month for a typical household. NSTAR and other New England utilities will be announcing their new rates with the New Year and they are expected to echo National Grid’s price jump. The rise in electricity prices is largely due to the shortage of natural gas pipelines leading to New England. The United States actually has an abundant natural gas supply but there are limited ways of transporting it to New England. This means that in the cold winter months demand greatly outpaces supply. A recent analysis put out by Moody’s Investor Services sites that New England will face high electricity prices for at least 3-4 years.

What most people may not realize is that your electricity bill is split up into two parts, delivery and supply. Thanks to deregulation, the consumer has control of over the rate they pay for the supply portion of the bill. Third party electricity suppliers have stepped in, offering consumers a better rates on supply than the utility can offer. So while you will definitely be affected by the rate increase on the delivery side of your bill you can mitigate this by switching to a third party supplier such as Gulf Electricity for the supply portion. Some third party suppliers have been scrutinized because they offer customers great introductory rates then switch them over to a much higher rate after that intro period is over. The good news is that Gulf, which has countless years of experience in the Northeast market, has every interest in expanding their image as a reputable and trusted brand. Gulf Electricity offers fixes price plans so your rate won’t go up over the term of your contract. Now is a good time to lock in one of their plans so that you won’t end up paying the high prices that the utilities are offering for supply. Visit their website and enroll now. Every penny counts.

Sources:

Pfeiffer, Sacha. “Why Are Electricity Prices Expected To Skyrocket In New England This Winter?” Radio Boston. NPR. Boston, MA, 27 Oct. 2014. WBUR. Web. 7 Nov. 2014.

Venkataraman, Swami, Toby Shea, and Tiago, Ferreira. “Capacity Market Shifts, Led by New England, Point to Recovery for US Merchant Power.” Moody’s Investor Services. Moody’s, 05 Nov. 2014. Web. 07 Nov. 2014.

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