Skip to content
NOWCAST News 9 Daybreak
Watch on Demand
Advertisement

New Hampshire consumer advocate says competitive suppliers could cut electricity bills

Consumers should be aware of fine print in contracts

New Hampshire consumer advocate says competitive suppliers could cut electricity bills

Consumers should be aware of fine print in contracts

TO EXPLAIN. STEVE EMERSON, NEW HAMPSHIRE’S CONSUMER ADVOCATE, TELLS US THAT 22 AND A HALF CENT RATE EVERSOURCE JUST IMPLEMENTED HERE IN THE GRANITE STATE IS THE BIGGEST ONE HE’S EVER HEARD OF IN OUR REGION. EVERSOURCE IN MASSACHUSETTS, FOR INSTANCE, IS 17.9 CENTS. SOUNDS LOWER, BUT THE CONSUMER ADVOCATE SAYS IT’S HARD TO DO ANY KIND OF APPLES TO APPLES COMPARISON WHEN EACH COMPANY IN, EACH STATE BUYS THEIR POWER IN THE SIX MONTH INCREMENTS FROM THE GLOBAL MARKETPLACE IS ALL DIFFERENT, AND THAT MAKES ALL THE DIFFERENCE. WHAT THE PRICE IS WHEN THEY BUY IT AND WHAT MONTH THEY’RE BUYING FOR. IN THE END, RIGHT, EVERY NEW ENGLAND STATE IS IN FOR PAIN BECAUSE NATURAL GAS COSTS FOR WINTER HEATING ARE EXPECTED TO BE HIGH. I THINK THE ULTIMATELY WE ARE ON PAR WITH WHAT OUR NEIGHBORING STATES ARE DOING BECAUSE AGAIN, ALL OF THE STATES IN NEW ENGLAND ARE BUYING THEIR POWER AT WHOLESALE FROM THE SAME WHOLESALE POWER MARKET. AND WE ARE ALL LIVING WITH THE MARKET OF WHOLESALE ELECTRICITY NOW BECAUSE THE WHOLESALE, THOUGH IS MARKET PRICING, THE PRICES CAN COME DOWN TO IT MEANS NEW HAMPSHIRE’S CONSUMER ADVOCATE IS HOPEFUL THE NEXT SUPPLY RATE COULD IN FACT BE LOWER. THAT WOULD BE EARLY NEXT YEAR BECAUSE THE GLOBAL MARKETPLACE IS EXPECTED TO COME DOWN. AND IN THAT SIX MONTH PERIOD, THE ONE WILL COVER WE TYPICALLY
Advertisement
New Hampshire consumer advocate says competitive suppliers could cut electricity bills

Consumers should be aware of fine print in contracts

Hot, humid weather has had New Hampshire residents running air conditioners and fans nonstop just days after electric utilities dramatically increased their rates.The supply rate for Eversource in New Hampshire was 10 cents per kilowatt hour before more than doubling to 22 cents as of Aug. 1. That's the highest rate in the region, according to Don Kreis, New Hampshire's consumer advocate.Kreis said Granite Staters might be shocked by their September bills, which will reflect the increased rate. He said now is the time to shop around for electricity providers, but residents should be careful to read the fine print."If ever there was a time to be vigilant about what's on your electric bill and where you're getting your electricity from, this is the time to do it," Kreis said. "It really is a good idea to look at what other competitive suppliers in your territory are offering and then seeing if you can get a better rate and thinking about whether you're willing to commit to that rate for a fairly extended period of time."He said there are two important things to know for anyone looking to get electricity from a competitive supplier. One is that people are often locked into long-term contracts, so if the market goes down, rates could be worse. The other is to pay close attention to the end date of the contract, so you're not automatically rolled over into a higher rate.

Hot, humid weather has had New Hampshire residents running air conditioners and fans nonstop just days after electric utilities dramatically increased their rates.

The supply rate for Eversource in New Hampshire was 10 cents per kilowatt hour before more than doubling to 22 cents as of Aug. 1. That's the highest rate in the region, according to Don Kreis, New Hampshire's consumer advocate.

Advertisement

Kreis said Granite Staters might be shocked by their September bills, which will reflect the increased rate. He said now is the time to shop around for electricity providers, but residents should be careful to read the fine print.

"If ever there was a time to be vigilant about what's on your electric bill and where you're getting your electricity from, this is the time to do it," Kreis said. "It really is a good idea to look at what other competitive suppliers in your territory are offering and then seeing if you can get a better rate and thinking about whether you're willing to commit to that rate for a fairly extended period of time."

He said there are two important things to know for anyone looking to get electricity from a competitive supplier. One is that people are often locked into long-term contracts, so if the market goes down, rates could be worse. The other is to pay close attention to the end date of the contract, so you're not automatically rolled over into a higher rate.