Updated August 24, 2012
We are well into electric choice and PECO’s residential rate caps have expired. JA Smith Heating & Air Conditioning wants to let you know that there are really great ways to save on your electric bill right now. Electric rates have tracked backwards. Yes, you just read that correctly. Rates have dropped due to natural gas price declines. By making a switch today, you will be able to save on your utility bills. As rates continue to drop, we now recommend you switch only to companies that do not have cancellation penalties. Please check our Web site often as we will do our best to keep the prices up to date and a new rate list is attached and can be accessed at the bottom of this article.
If you do not have a gas furnace, this might be a great time to consider kicking your oil habit and making the switch! Natural gas furnaces or heat pumps cost 68% less to operate compared to fuel oil. If you would like more information, please call us today!
There are now 42 companies selling electricity in Pennsylvania. The 3 lowest cost, fixed rate companies without cancellation penalties offer rates that are 10% less expensive than PECO’s July 1st rate and are at least 25% less expensive than PECO’s estimated October 1 to December 1 pricing. Pennsylvania residents have the power to choose their electricity providers for better rates. Since rates change frequently, you should check back periodically for our choice updates. The right choice for today; may not be the right choice for the future.
For anyone on electric heat rate (RH), the PECO RH rate (electric heat) is all but gone. We do not see any advantage for electric heat customers to stay with PECO any longer. Important Note: Do not cancel your RH service with PECO as they will still give you a $.02/kwh reduction on the distribution part of your electric bill during the heating months.
For those of you on PECO’s standard rate (R or RS), you will need to select a power provider now and we recommend that you change as soon as possible. Depending on your risk tolerance, there are two ways you can go in your selection:
Variable rate for the lowest cost (but it could change)
This rate may be the lowest option today, but the rate is not guaranteed and may increase over time. The terms and options will vary by provider, so read the fine print before signing up for service.
Fixed rate (may not be as low as short-term variable rates but terms are guaranteed over a fixed period)
This rate is usually a bit higher than variable rate plans, but you get the security of knowing that your rate will not rise suddenly as a variable can. Of course a variable rate can also go down, but ther is no guarantee.
When you do switch, we recommend a fixed rate (without cancellation penalty). There are several companies that are within 2/10 of 1 cent of each other. For gar or oil heat customers, the best deal of the moment is Superior Plus with a cost per kwh of $.0745 versus PECO’s rate of $.0864 which is a savings of 14%. Superior can be reached at 1-855-285-5999. For heat pump customers, Energetix has the deal of the moment with a cost per kwh of $.07414 versus PECO’s cost of $.0898 per kwh which is a savings of 17%. Energetix can be reached at 1-88-544-0182.
Changing your generation providers will not create any problems with PECO or affect your service in case of a power outage. No matter who you choose, your local distribution company will always be PECO and you will call only PECO if the lights go out.
Click here to see our most recent summary of the residential electric rates. The attached PDF sorts electric choices from lowest to highest cost. The five lowest cost fixed rate companies are highlighted. Again, they are at least 23% cheaper than PECO and are within $0.02 of each other.
To compare prices, or, to sign up with a new generation provider, visit www.papowerswitch.com/.
If you have already signed up with a company based on previous posts, relax and enjoy your savings. The difference on a week to week basis are very small and I do not recommend constantly changing providers even if you do not have a cancellation penalty.
Important Reminder: Spring and Fall HVAC service checks keep your heater and air conditioner running safely at peak efficiency. Well maintained units last much longer than units that are ignored. For an appointment, please call 215-956-9400.
We recommend that our commercial customers talk to Bob Makin, our old PECO friend, who runs his own energy service now.
Robert E. (Bob) Makim