New Hampshire’s Eversource residents looking to shop around for lower electricity rates are in luck. Keeping true to the State’s motto, “Live Free or Die,” New Hampshire became the first state in the nation to deregulate its energy market. In 1996, the legislature passed RSA 374-F, a law that required the New Hampshire Public Utilities Commission to issue a restructuring plan of all its utilities. The law broke up the monopoly the utilities had over its customers and energy choice was born.
Before energy deregulation, business and residential customers could only go through the local utility company for energy services. The lack of competition gave the utility company a monopoly over the price of power. Thanks to energy choice, customers can now choose between energy suppliers that have to compete with each other to earn new business. The competition between energy suppliers has the effect of lowering prices just as we can expect from a free market system.
Eversource’s residents now have the option between choosing different energy products along with term lengths for their electricity bill as opposed to one default rate from the utility company. Eversource will still deliver the power to its customers as its main responsibility is to maintain the lines and wires or the infrastructure of the utility lines. This means Eversource is responsible for fixing any issues dealing with a power outage. The quality of service will not change nor will there be any disruption in power during the switching period.
What to Expect during and after the Switch Process
The switching process from Eversource to the chosen energy supplier is seamless. An energy comparison site such as ElectricRateSelect will handle all aspects of the switch so you can relax. Once you sign up, Eversource will be notified and the switch will take place on your next available meter read. The meter read date typically falls once every 30 days. This is known as the billing cycle. On average it will take two billing cycles before the new energy supplier will show up on your electric bill.
A few energy suppliers give customers the choice between single and dual billing. Single billing remains the most common method of billing. Since Eversource is responsible for maintaining the lines and wires, the company will continue to charge for delivery costs. The energy supplier will charge for the generation cost or the cost of supplying the energy. With single billing, Eversource will continue to send one bill that incorporates the delivery and supply costs. With dual billing, the customer will receive one electric bill from Eversource for the delivery cost, and one bill from the energy supplier for the supply cost.
Part of the process of choosing a competitive energy supplier is selecting the length of the term. Three of the most common terms include a 12, 24, and 36 months agreement. Once the term expires you will not automatically go back to Eversource. After the initial term, most energy suppliers will put you on a month-to-month variable rate that may sharply increase. To avoid the variable rate, you may cancel your agreement with the energy supplier at the end of the term or simply switch to another supplier. To avoid any cancellation fees, make sure you do not switch to another provider before the term expires.
Where does New Hampshire Generate its Power?
As you begin to shop for retail energy suppliers you may wonder where your power is being generated. For the first time in 2016 and 2017, electricity generated from wind power surpassed energy generated from coal-fired power plants. More than 50% of the power generated in New Hampshire comes from nuclear power plants while renewable energy resources make up just over 20%. Thanks to the rivers that flow through the state, hydroelectric and biomass make up the majority of power generated from renewable energy.
Energy Consumption by Sector
The small population in New Hampshire is overshadowed by larger surrounding cities such as Boston. The geographical location of the state has made it a hot spot for tourism and second homes. The result is an increase in energy usage for the transportation sector which currently is responsible for the largest consumption of power in the state. Since a relatively large percentage of homes are only seasonally occupied, residential falls second in power usage. The remaining power is consumed by commercial and industrial users.
Energy Efficiency Tips for your Home
While it is strongly encouraged to shop around for a lower energy rate, there are a few things you can do to cut down on your usage. The combination of paying a lower rate along with cutting your energy usage will have positive implications by the time the electric bill shows up in the mail. Being conscious of energy usage will result in easy savings. Here are a few tips for you to consider:
- Keep all lights turned off in unoccupied rooms and take advantage of natural sunlight when possible
- Make sure you have light-efficiently lighting
- Take a conservative measure when setting your thermostat
- Installing high-quality windows will keep your house insulated preventing cool or hot air from escaping
- Dishwashers use less energy than hand washing
- The microwave and toaster use considerably less energy than the oven
Energy Efficiency Tips for the Office
- Unplug electronics that are not being used
- Invest in power strips. Power strips can sense when electronics are not being used and will prevent them from withdrawing power
- Make sure computers and laptops are in sleep mode when not in use
- Consider investing in energy-efficient office equipment
Make the Smart Choice and Start Saving Today
Eversource residents have a variety of options to cut down on energy costs. The combination of choosing a competitive supplier along with taking steps to lower usage will result in maximizing savings. Many states in the nation are still regulated giving customers little choice but to go with the local utility company. Thankfully, New Hampshire is not one of them. Take advantage of energy choice and start shopping for a retail energy supplier for your home or business today.