Stamford Electricity Rates
Connecticut residents living in Stamford have the power to choose a competitive electric supplier to lower their supply rate on the electric bill. Legislation known in Connecticut as PA 98-28, allows competing energy suppliers to enter the market and offer an alternative to Stamford residential and commercial customers. Before energy deregulation, the state of Connecticut only had two electric companies, Eversource (CL&P) and the United Illuminating. Now thanks to energy choice, Stamford electricity rates offered by electric suppliers are more competitive than before.
Stamford is located in the southwest corner of Connecticut. According to the 2019 census, the city has a population of just under 130,000. Stamford has a cluster of corporate headquarters located in the city, that includes several from Fortune 500, Fortune 1000, and Forbes Global 2000. Stamford has the largest financial district in the New York metropolitan area outside of New York City.
Stamford Utility Companies
If you recently moved to Stamford, Connecticut, then you fall under the service area of Eversource, formerly known as Connecticut Light and Power. Eversource is the utility company that is responsible for maintaining the lines and wires to safely deliver the electricity to your home or business. This is the regulated portion of the electric bill and the customer will not be able to select another utility company.
Contact Eversource for Power Outages
If you experience a power outage or any disruption of power, then contact Eversource. The utility company is responsible for resolving any issues with the power lines used to deliver the electricity.
- Eversource contact information: 1-800-286-2000
Energy Deregulation in Stamford
Before energy deregulation, Stamford residents had to go through either Eversource (CL&P) or United Illuminating depending on which service area they lived in. The utility company was in charge of all aspects of the electric bill which includes the delivery and supply or generation costs of electricity. If the customer was unhappy with their utility company, they were not allowed to choose another supplier.
The electric bill is separated between the delivery and supply costs. Energy deregulation unbundled the generation (supply) portion of the bill, allowing customers to shop around for a lower supply rate.
Delivery Charge – The delivery charge represents the regulated portion of the electric bill. This is the cost the utility company charges the customer to deliver the electricity to their home or business. The charges are overseen by the Public Utilities Regulatory Authority. Given the logistics involved, it will be impossible for a customer to change to another utility company in their service area.
Supply Charge – The supply charge represents the deregulated portion of the electric bill. The supply charge is the generation cost of generating the electricity the customer is expected to use during the term of the energy contract.
What is the Price to Compare?
For Stamford residents who have not switched to a competing electric supplier, the supply charge will be billed to the customer by Eversource. This charge is known as the Price to Compare and will change every six months at the end of June and December. The Price to Compare is used while comparing energy suppliers. If a supplier is offering a rate that is lower than the Price to Compare, then the customer will be saving money by switching.
What will Change on my Electric Bill?
The most common method of billing in deregulated markets is single billing. If you change electric suppliers, you will still receive one electric bill from the utility company that will incorporate both the delivery and supply charges. The only thing that will change on the electric bill is the lower supply rate the customer pays!
What Happens at the End of my Term?
If you decide to switch electric suppliers, you may be wondering what happens at the end of the term. If the customer does nothing, most electric suppliers will charge the customer a month-to-month variable rate. Once this happens, you can expect to pay a high electric bill as most suppliers significantly increase the rate they charge to the customer. The customer needs to pay attention to the expiration of the term and lock in a new rate before they are hit with any surprises!
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