Town Square Energy: New England Engery Market Watch – 3 Ways You Could Possibly Get A Better Rate For Winter 2021
With Natural Gas markets signaling constraints this winter, residents who live in New England could possibly get a shock when they pay their power bills this winter.
The energy market is shaping up to leave coal in the stocking of every New England electricity bill payer this winter. Natural gas future prices have exploded in the last 30 days by over 300% with little sign of slowing – but what is driving the increase and where can New Englanders find shelter from high rates this winter?
International demand for Natural Gas is a likely culprit.
“Every molecule that can be moved [off] this continent is being moved to be sold higher elsewhere.”
Prominent energy experts, are all saying the same thing. Forbes, Rueters, The New York Times, and CNBC have all published articles in the last week highlighting the potential energy disaster slowing moving toward the U.S. and specifically the northeastern parts of the country – residents that depend on a steady flow of Natural Gas to heat their homes every winter.
3 Ways To Find A Better Rate This Winter in New England
1. Shop for a new rate on the Connecticut State electricity rate boards (Don’t wait, do this NOW)
Suppliers are rapidly removing their competitive rates from the state sanctioned price comparison board but, there are still good rates to be found.
Finding an energy supply rate less than 10¢/kWh will likely be a STEAL this winter. For savvy electricity shoppers, hunting the boards for a sub-10¢ price point would be the first place to look. Plus, with the state of Connecticut banning early termination fees, there is no downside if we are wrong.
Visit the EnergizeCT price boards here and compare your rate
2. The standard residential rates from Eversource could be some of the lowest rates this winter.
You might be surprised to hear that the regulated standard residential rate offered by Eversource and Unitil might be the best rates you’ll be able to find this winter.
Private suppliers move their rates in more real-time with the market but the subsidized standard offers tend to spread costs over a longer period of time. The trick is, the earlier you switch, the more you could benefit before prices adjust. As with competitive rates, you can switch back to a supplier of your choice once prices settle.
To contact Eversource and ask to placed on the standard service rate, call their customer service line at: 1.888.888.8888
3. Enrolling in a Community Solar program could help lower your rate by 10% or more.
If you’re still wondering why the market is acting the way it is, the answer is a culmination of a slow moving freight train of natural gas prices rising with the possibility of slamming into a traditional (unpredictable) New England winter.