OK, I basically have two choicesin Pittsburgh, from the three main suppliers of electricity. All three are good companies, not the fly by night scam outfits that I keep hearing about in horror stories about switching utility companies.
First off, I am already a customer of Duquesne Light. They are the deafult power supplier if you live in Pittsburgh. I have my choice of two large competitors (after ruling out all the small companies I have never heard of...)
First is Dominion Electric. Basically, this company offers 30% off what Duquense elctric charges, guranteed, until Dec 2013. That is 30% off, whther Duquesnes price goes up or down. So, if the price of Duquesne's elctric goes way up, so will Dominion's, but it will still be 30% cheaper. And if the price goes down, again, 30% cheaper.
Second is First Energy. They are just doing a flat rate gurantee until Dec. 2013. Which is about 27% cheaper than Duequesne's price.
Now, if electric gets more expensive, the best plan to have would be the fixed price. And if the price of electric generation goes down, Dominion would be the plan to go with.
Looking forward, most electric generated is from Coal and natural gas, and there is a lot of natural gas around here due to Marcellus shale. So you would think electric would start getting really cheap. However, I have been reading that a lot of companies that were drilling Marcellus shale like crazy, are cutting way back, because they are shooting themselves in the foot by making it too cheap. So, maybe electric will go way up...
So, is electric going to go up or down in the next two years?
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Be vewy vewy quiet
posted: May. 14, 2012 @ 4:09p
posted: May. 14, 2012 @ 4:10p
unless you are spending a million dollars in Electricity each month.... Unless you have an industry that requires a lot of energy and hence want to hedge with futures
for house hold purposes, I dont see a need for such analysis... You already know the percentage in savings...and that you are saving. Just stop smoking if you do or reduce your trips to Goldenbucks to save that extra $$$
posted: May. 14, 2012 @ 4:14p
ILovePittsburgh said: Looking forward, most electric generated is from Coal and natural gas, and there is a lot of natural gas around here due to Marcellus shale. So you would think electric would start getting really cheap. However, I have been reading that a lot of companies that were drilling Marcellus shale like crazy, are cutting way back, because they are shooting themselves in the foot by making it too cheap. So, maybe electric will go way up...
So, is electric going to go up or down in the next two years? I dont have exact numbers but I believe cost of fuel is only a part (< 50%??) of what you pay for electricity consumed at home.
posted: May. 14, 2012 @ 4:15p
I'd go with First Energy. I switched to them a couple months ago, no problems as of yet and having a fixed rate is nice.
posted: May. 14, 2012 @ 4:27p
Went with First Energy. Basically, electric is as cheap as it is going to get. Now, if I can just lock in my natural gas price for two years...
Senior Member - 1K
posted: May. 14, 2012 @ 6:00p
I think the chance of it dropping still may not be over. Before deregulation was implemented in my area, electricity was a bit over 5 cents per KwH and natural gas was around 30 cents per therm. With the economic slowdown, both utilities are dropping close to these previous price levels. I think the chances of further drops are much better than with gasoline prices.
posted: May. 14, 2012 @ 8:06p
First Energy and Dominion both generate a good share of their power from nuclear. Which is a good thing.
posted: May. 14, 2012 @ 9:42p
I went with IGS Energy in Bellevue. Currently renting and might have to move within a few months and since they do not require a contract period, I can cancel anytime without an ETF.
posted: May. 14, 2012 @ 10:07p
I recommend Electric Avenue and Water Works
posted: May. 14, 2012 @ 10:16p
Don't rule out the small companies you've never heard of. This site was handy for me: PA Power Switch.
posted: May. 15, 2012 @ 10:13a
Wow, I wish I had choices like this in NY. To the best of my knowledge, there are no electricity suppliers that offer any guarantee of savings, and certainly not 30% like you're talking about here. I got an offer yesterday from a company offering a competitive introductory rate, but it turns out it only lasts 1-2 months!
BTW the title of the thread is misleading. It's really the supplier you are talking about choosing, not the utility. The utility is the company that delivers the power to your house and that does not change.
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