Neighbor News
Electric Rate Options
National Grid electricity supplier rates have doubled in the last couple of months, but you have several choices to lower that cost.
You have most likely seen your electricity bills skyrocket in the last couple of months. The National Grid supply rate nearly doubled from 8.3 cents per kwh to now 16.273 cents per kwh. Fortunately, there are much better rates available.
The Massachusetts office of Energy and Environmental affairs directs National Grid customers to this official list of alternative suppliers: http://www.nationalgridus.com/masselectric/business/energychoice/4_suppl...
Unfortunately, that list is not easy to use. I visited every website on the list and two thirds of the suppliers listed do not provide electricity for residential customers in Massachusetts. I’m writing this to save others time in searching for less expensive electricity rates.
Find out what's happening in Eastonfor free with the latest updates from Patch.
If you google for electricity suppliers Massachusetts, a prominent (advertised) web site is “chooseenergy.com”. This looks like a convenient/quick price comparison tool. However, they do not actually have the cheapest options available on their site.
The official list above recommends 35 suppliers. Twenty of those suppliers do not provide electricity to residential accounts in Massachusetts. The good news is that 9 Suppliers have residential rates that are lower than the highly advertised rates of ~13.5¢/kwh.
Find out what's happening in Eastonfor free with the latest updates from Patch.
The lowest currently available rate is a monthly variable rate of 8.99¢/kwh from Massachusetts Gas and Electric. However, with a monthly variable rate, you have no price protection. On the other hand, the monthly variable rate options do not require you to commit to a long term contract.
The lowest available term contract fixed rates are 10.90 and 10.99¢/kwh from Gulf Oil and Con Edison respectively. They are, however, relatively short term contracts of 9 and 10 months each. The lowest available 2 year fixed rates are 11.50 and 11.55¢/kwh from Gulf Oil and Con Edison respectively. So, if you think rates might improve at the end of 2015, the 9-10 month contracts are a good option. On the other hand, if you think it is more likely that rates will be higher at the end of 2015, you might be better off committing to a 2 year contract.
The fixed price contracts have hefty early termination fees typically $150.
Below I listed the six vendors currently quoting the lowest supplier price. Also, of potential interest are Verde Energy (www.lowcostpower.com) which claims 100% green at 12.99¢/kwh and Viridian Energy (www.viridian.com) from which you can get a 3-year 100% wind fixed contract for 14.49¢/kwh.
The rates quoted are for Easton, MA on Jan 2,2015.
Massachusetts Gas & Electric http://www.MAGandE.com
8.99¢/kwh current variable rate available with “green energy plans”, no cancellation fee. Fixed contracts are 12.2-12.4¢/kwh.
Gulf Oil Limited Partnership http://www.gulfelectricity.com
10.9¢/kwh 9 month fixed/12.2¢/kwh 6 month fixed/11.9¢/kwh 18 month fixed/11.5¢/kwh 22 month fixed. Termination Fee?
Con Edison Solutions http://www.conedsolutions.com
10.99¢/kwh 10 month fixed / 11.55¢/kwh 23 month fixed. Up to $150 early cancellation fee.
Great Eastern Energy http://www.greateasternenergy.com
As of Jan 2, their web site was not working and although they appeared to offer 11.5¢/kwh in an indeterminant fixed contract, details were not available.
Provider Power MASS http://www.providerpowermass.com
11.85¢/kwh 24 month fixed / 12.55¢/kwh 12 month fixed rate $100 Early Termination Fee
Oasis Energy http://www.oasisenergy.com
11.9¢/kwh 24 month fixed / 12.7¢/kwh 12 month fixed Early cancellation fee $12 per early-month. Green options available for slightly higher fee.
Prices are volatile, so you should check several vendors before committing to any program.