Stay alert if Electric Suppliers Leave
It has been a busy winter season for PURA and CT energy customers. But rate increases aren’t the only thing on everyone’s minds. Recently, some energy companies announced that they are leaving CT entirely and that leaves their customers with questions about what they can do. While these customers will not lose electrical service, they could wind up paying more. So let’s find out what happens if your energy provider leaves CT.
How Energy Providers Leave
You might be wondering what happens when an energy provider drops service.
First, energy suppliers will contact PURA to file their intent to drop customers. Energy suppliers will tell PURA when they intend to drop service for their accounts. The reasons vary, but can include penalties or high winter billing.
Most companies will return their customers to default service rates. Others will attempt to sell accounts to other energy providers. But if a sale process fails, then their accounts will return to default service rates.
Next, energy companies will contact customers within 30 to 60 days of any change. The notice will give a clear deadline and options for finding better electric rates. Refunds may also be provided to customers in some cases. These cases include cancellations caused by settlements or penalties.
Consider Default Service Rates
But what happens if you don’t respond to the notice?
If a customer fails to switch their plan, then they will return to default service rates. This means that you will pay the current utility supply charges for Eversource or UI.
Customers should keep in mind that default service rates may be higher than their old rates. For example, we recently reported how Eversource’s default service rate will spike to 11.484 cents per kilowatt-hour on January 1, 2022.
Make sure you check out what these rates will be. Because they will help you decide what happens next.
Shop best energy provider rates in CT
You might be wondering what you can do about service cancellation. Thankfully, you do have a simple solution.
First of all, make sure you shop now for the best electric rates. Winter rates may be high this year. and that means high electricity bills. And you don’t have to wait for service to drop before you shop, because early termination fees (ETFs) are eliminated.
And don’t forget that some energy companies have money saving rewards programs, rebates, or discount deals that can help you save.
Consider options when your energy provider leaves
Receiving notice that your energy company is dropping service can be stressful. But energy companies go through a specific process that gives you plenty of opportunity to avoid high rates. But you can save money by reading your notices, consider default service rates, and shop for the best deals.
Learn more about retail suppliers, saving money and energy, and comparing rates and plans at https://www.ctenergyratings.com.