Bolinsky Cautions Electric Ratepayers to Be Vigilant
With Connecticut Light & Power (CL&P) and United Illuminating (UI) announcing sharp increases in electric prices for January 1, 2015, as well as an anticipated increase in CL&P’s electricity distribution rate, consumers are advised to budget for higher bills, take steps to conserve energy, and to use caution when shopping for better prices from electric suppliers. State Rep. Mitch Bolinsky is urging consumers to be prepared and educated as they review their electric bills.
“Consumers should take advantage of energy efficiency programs to lower their usage. I co-sponsored and passed legislation this year to make the process of shopping for an electric supplier simpler and more transparent than ever before. Consumers should carefully consider their options before making a choice,” said Rep. Bolinsky.
While there may be savings to be had, consumers should proceed with caution before signing on with a third-party supplier. The legislation passed this year provides for greater disclosures and transparency in the third-party electric market, but it remains important to understand all of the terms and conditions of a contract before signing up with a supplier, including if a rate is fixed or variable, when the term ends and if there are termination fees. They must be sure to pay close attention to when their contract expires so they can reenter the market before their rates increase.
Consumers, especially residential consumers and small businesses, need to be very educated if they are considering an alternative electric supplier. So review the terms carefully, compare offers either by visiting the state rate board, www.energizect.com, or calling 1-800-WISE-USE.
Consumers need to do their homework and fully understand contract terms and conditions before they consider switching their supplier.
As a result of the new legislation, electric suppliers are required by July of 2015, to include the electric rate for the upcoming month on your bill. You will also be able to count on that rate being your fixed rate for that month, so consumers can avoid the surprise of undisclosed spiking electric rates when they open their bills.