Annual Utility Savings Hunt – Electricity

It’s that time again. Time to go hunt for utility deals. I know most people think there are no deals to be had, but a lot of your utilities can be negotiated, depending on where you live.

In Connecticut, we have the choice of electricity suppliers. That doesn’t mean that I get two bills or that I have to change electric companies. The only thing that changes on my bill is the name of my electricity supplier and the amount I pay each month.

I received a call last week from one of the electricity suppliers. Usually they go into a big sales pitch explaining what supplier choice is and how things won’t change. I, generally and as politely as possible, interrupt them and just ask for their rate. My former rate was 10.7 cents per kwh. The rate for my electric company is over 12 cents. This company offered me a rate of less than 9 cents with no contract. They also offered me $100 if I stay with them for 2 months and 5% back at the end of 12 months if I stay with them. Ding, ding, ding. We have a winner. I switched. There is no fee to switch and no fees if there is no contract.

The only thing that annoyed me about the process was having to talk to a third-party, independent verification service to make sure I understood what I was doing. I wonder how much that adds to the cost of electricity, especially with people changing suppliers every time someone calls with a better offer.

I figured out that on last month’s bill, I would have saved about $50. I wish I would have reviewed my options sooner. If you live in Connecticut, you can visit this site to see all the companies that provide electricity to Connecticut consumers. I got this link from the Department of Energy and Environmental Protection. If you live outside Connecticut, contact your Department of Public Utilities or your electric company to see if you can pick your supplier.

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