How to Assess Suppliers
Assessing Electric Suppliers
What is Supplier Choice?
Your electric bill is divided into two major sections: delivery and supply (or generation). Since 2000 the supply portion of your bill has been deregulated, meaning that independent companies, known as “electric suppliers,” can compete to sell or supply you electricity. As a Connecticut electric customer you have the option to select an electric supplier if you want. The delivery portion of your bill remains fully regulated.
Assessing and Switching Suppliers
Switching suppliers is as easy as a phone call or an email signup. Please visit our Compare Electric Suppliers page to compare different electric suppliers and find an electric supplier that may be right for you. You may also receive offers from electricity suppliers through the mail, via advertising, or over the Internet. Because electric suppliers change their rates frequently, we urge consumer to visit the Compare Electric Suppliers page frequently to check and compare current offers.
Take your time when reviewing available offers.
By shopping for competing suppliers, you may be able to save money and/or find suppliers that use clean, renewable energy resources. As you shop for electric suppliers think about what is most important to you. Read offers carefully and ask suppliers questions. You may have to commit to a fixed-term contract when you sign up with an electric supplier. Therefore, you should be sure you like the terms of any offer that you choose.
Consider asking suppliers the following questions:
- Is the energy price fixed or can it fluctuate month-to-month?
- What is the length of the contract? Is there an early termination fee or a switching fee if I switch to another supplier before the contract period ends?
- What are my monthly savings if I switch?
- Will the contract automatically renew at the end of the term? How much notice must I give if I don't wish to renew?
- How is the electricity generated – coal, gas, nuclear, hydroelectric, etc.? What percentage of the fuel source is renewable? Where does the renewable portion come from?
- Is a security deposit, enrollment, or other similar fee required?
- Is there a credit check, late payment fee, or other similar fee assessed? (If yes, be sure to get a list of the charges and what each charge will cost.)
- Do you offer any other services? (Some examples include energy assessments, conservation services, load management, or other energy-related services.)
If you have additional questions, you can speak with an energy professional at Connecticut’s toll free Energy Information Line at 1‑877‑WISE‑USE.
After You Switch Suppliers
After you switch electric suppliers, Connecticut Light & Power (CL&P) or The United Illuminating Company (UI) will continue to deliver the electricity you use and bill you on behalf of the electric supplier you have selected. The only difference is that the Generation Service Charge (GSC) rate on your bill will be the rate offered by your chosen electric supplier. So you still receive one electric bill – the only difference will be the lower cost.
As of September 2012, over 700,000 customers have switched electric suppliers. However, another 800,000 customers have not yet switched.
How Much Can be Saved by Switching?
A one cent per kWh savings would reduce the electric bill by $7.50 per month or about $90 per year for a residential customer using 750 kWhs per month.
If you have questions about Choosing an Electric Supplier you can speak with an energy professional at Connecticut’s toll free Energy Information Line at 1‑877‑WISE‑USE.