Compare Greenwich Electricity Rates

Greenwich Electricity Rates

Contents

1 Greenwich Electricity Rates
2 Greenwich Utility Companies
3 Contact Eversource for Power Outages
4 Choosing an Electric Supplier
5 Read the Terms and Conditions!
6 What is the Standard Offer Service?
7 Early Cancellation Fees
8 Long Term vs. Short Term
9 What Happens at the End of my Term?
10 View by City
11 Clean Energy
12 Electricity Rates

Residential homes and businesses in Greenwich, CT have the power to choose their electric supplier and save money on the electric bill. Greenwich electricity rates fall under the Eversource utility area, formerly known as Connecticut Light and Power (CL&P). Legislation known as PA 98-28, unbundled the responsibilities of the utility companies. Retail electric suppliers can now provide generation services to Greenwich residents looking to lower their electric bills. Opening up the electricity market to competition has the effect of pushing down energy prices.

The city of Greenwich is located 35 miles northeast of New York City and has a population of just under 70,000. The city is in the southernmost part of Connecticut and is part of the Bridgeport-Stamford metropolitan area. Given its geographical location, Greenwich is home to many financial firms and hedge funds. The climate can be classified as humid continental with mild summers and cold winters.

Greenwich Utility Companies

Eversource (CL&P) is a utility company that is responsible for maintaining the power lines and delivering electricity to its customers. The delivery charge on the electric bill represents the regulated section and is overseen by the Public Utilities Regulatory Authority (PURA). Given the logistics involved, it will be impossible for a customer living in the Eversource service area to change to another utility company. PA 98-28 also requires Eversource to offer customers a standard offer service for those who do not switch to another electric supplier. The standard offer service is also known as the default rate and changes every six months.

Contact Eversource for Power Outages

If you switch electric suppliers and experience any disruption of service, then you will need to contact Eversource and not the electric supplier. Since the utility company is responsible for maintaining the lines and wires, they will also be responsible for fixing any power outages. Most power outages in Connecticut are due to winter storms.

Eversource (CL&P) contact information: 1-800-286-2000

Choosing an Electric Supplier

The electric supplier is responsible for generating or purchasing the electricity the customer is estimated to use during the term of the agreement. The generation or supply charge represents the deregulated section of the electric bill. Deregulating the electricity markets has allowed Connecticut residents to lower the electric bills by selecting a new electric supplier. When shopping for a new energy supplier there are a few things you need to review.

Read the Terms and Conditions!

When comparing energy plans it is important to read the terms and conditions. The terms and conditions will lay out the details of the plan including the energy charge, term length, early cancellation fees, and other additional charges. If you’re not reading the agreement you might be signing up for a plan that is higher than you initially thought.

What is the Standard Offer Service?

The standard offer service is the default rate offered by Eversource to customers who decide not to shop around. The default rate changes every six months and can be used by customers when shopping for an electric supplier. If the supply rate offered by a competing supplier is lower than the default rate, then the customer will be saving money by switching.

Early Cancellation Fees

Most energy plans come with an early cancellation fee. If you change energy suppliers before the term expires, then you may be hit with a fee that can cost up to $300. Electric suppliers can either charge a flat fee or the customer may have to pay a fee multiplied by how many months are left in the agreement. If you decide to switch energy suppliers make sure you’re not subject to an early cancellation fee.

Long Term vs. Short Term

Energy agreements can be as short as 6 months or as long as 48 months. Deciding on the length of the agreement has a lot to do with current energy prices. If you’re lucky enough to be shopping during a downturn then it will make more sense to lock in a long-term rate. Short-term rates may be more desirable when the market is high. This will allow the consumer to switch electric suppliers without having to worry about paying a huge cancellation fee.

What Happens at the End of my Term?

Most energy suppliers will charge a month-to-month variable rate to their customers after the initial term expires. Once this happens don’t be surprised to have the electric bill double or even triple on you in a single billing period. It’s a good idea to shop around for a new energy plan a month before the term expires.