NY, PA & NJ Electricity Rate Quotes

For N.J. Solar, Tax Equity Deals Are a Plausible Next Round of Financing – 866-572-2274

Sun, 26 Feb 2012 11:57:17 +0000

BY KATE ROA

New Jersey’s solar businesses are planning to make 2012 a strong earnings year. Despite the expiration of the federal cash grant, transitioning utility finance program, long SREC markets and stagnant legislation, industry leaders are ready to build more projects.

Their optimism is grounded and tethered to long-view business plans and risk-analyses. If their numbers are right and elected officials connect with and promote a tax equity narrative, this sector of New Jersey’s economy can continue to prosper.

While investor-owned PSE&G has created an estimated 1000 solar-related jobs since 2008, profit margins and jobs for twenty-plus New Jersey vendors that install the energy distributor’s solar assets are at risk.

“In order to extend Solar 4 All we would need to file a request with the Board of Public Utilities seeking regulatory approval. We have said in the past that we would like the opportunity to build more solar projects that align with the state’s new Energy Master Plan,” commented PSE&G spokesperson Francis Sullivan.

PSE&G decided early on to invest in their own factors of solar production.

“We didn’t want the liability on our books,” commented Al Matos, VP of PSE&G Renewables and Energy Solutions

The distribution company has 24 solar installations. They’re in favor of a long SREC market and would like to continue investing. The other three distribution companies were mandated by the Board of Utilities to participate in long-term SREC contracts to foster stability.

PSE&G expects to reach an agreed upon eighty megawatt goal by early 2013. They have expressed interest in building more systems on brown fields and landfills. To date, the Board has not endorsed another program.

According to Jamie Hahn, co-founder and managing director of Solis Partners in Manasquan, N.J., financing for the distributed solar sector will look quite different in 2012 compared to the past three years now that the Treasury Grant is gone, but different does not mean dead. The sun setting of the grant should not impede development said Hahn. He thinks the next viable round of development will be funded through tax equity investments from corporate America, high net worth individuals and institutional funds.

full story>>>

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5 Simple Ways to Save on Energy – 866-572-2274

Sun, 26 Feb 2012 11:45:04 +0000

By Michy Adam

People have always been shocked to hear about single or even double digit increases in their electricity rates. Even though residents in the state have enjoyed tremendous flexibility from the energy deregulated Texas electricity industry which gave them the power to choose their retail Texas electric company, it always is a wise move for home and business to start slashing down on their electricity bills today.

Until the time when really cheap electricity is made possible and available to the public, people should start devising ways how they can save on Texas electricity and the following simple suggestions can them started in this area.

Insulate to Regulate

One of the highest consumers of Texas electricity in residential homes and business establishments is air conditioning. However, the efficiency of cooling systems tend to degrade with poor insulation in the building or infrastructure – as cool air seeps out, the air conditioning would work overtime to compensate and thus consume more energy. To remediate this, ensure that all windows are properly sealed and caulked. Check for wear and tear on weather stripping on doors and check for any fissures and cracks on walls where cool air can leak out.

Turn Off When Not in Use

This simple instruction has been taught to people since they were children and the wisdom behind this is simply a practical way of saving Texas electricity – as lighting accounts for about 11% to 15% of your total electricity bills. Simply turning off lights when there’s no need for it can go a long way in reducing your electricity consumption. The same thing is true with turning off your computer monitor when not in use (contrary to what people think, screensavers will not reduce your computer’s energy consumption) as well as turning your computer off during the night. And if given a choice between using a desktop and a laptop, always go for the smaller guy as laptops consume only a fraction of what desktop computers with bulky monitors draw.

New Jersey Household Electric Bills May Fall on Auction Result – 866-572-2274

Tue, 21 Feb 2012 02:05:04 +0000

Thursday, February 9, 2012

BLOOMBERG NEWS

New Jersey customers soon will pay less for electricity.Most New Jersey residents and businesses will pay less for electricity starting in June because prices fell in the annual auction, the state said. A typical residential bill may decline by 3.6 percent to 6.4 percent starting in June, the state Board of Public Utilities said in a statement. Residential prices dropped the three previous years amid low prices for natural gas, a fuel used to produce electricity.Four utilities bid at the annual auction to secure power to meet one-third of basic demand statewide for each of the next three years. The utilities are Public Service Electric and Gas, Jersey Central Power & Light, Atlantic City Electric and Rockland Electric.Typical residential consumers in the territory of PSE&G, the state’s largest utility, will see their bills fall to $116.99 from $121.40, based on 650 kilowatt-hours.Jersey Central household electric bills will slip to $101.49 from $108.45.read more>>>

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Con Ed Sees Record New York City Summer Power Demand – 866-572-2274

Wed, 08 Jun 2011 10:41:28 +0000

Thu Jun 2, 2011 4:45pm EDT

(Reuters) – New York City’s power company, Consolidated Edison Inc (ED.N), said Thursday it had enough power to meet forecast record power demand this summer.

The company said in a release it invested $1.1 billion to strengthen its electric system for this year, including $814 million for cables, transformers, and network protectors; $63 million on transmission upgrades; and $212 million on new substation installations and related equipment.

“Our work force prepares continuously through the fall, winter and spring to get our system ready for the summer season,” Craig Ivey, president of Con Edison, said in the release.

The company forecast power usage by its more than three million customers in New York City and Westchester County would reach a record peak of 13,275 megawatts (MW) this summer. The current record peak is 13,141 MW set on Aug. 2, 2006.

full story, click here>>>

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Cuomo To Save The Day And Prevent 12% Con Ed Rate Hike – 866-572-2274

Sat, 04 Jun 2011 15:08:43 +0000

By Jen Chung in News on April 14, 2011 9:03 AM

Because of a Federal Energy Regulatory Commission ruling that will impose an unnecessary 12% Con Ed rate hike (a typical $74 apartment bill would go up $12), Governor Andrew Cuomo is getting involved. The Post reports that he “will introduce legislation ‘within the next few days’ permitting the city to guarantee permanent property-tax abatements to local electric-generating companies, removing the basis for a little-noticed FERC decision that could hike electric rates by $500 million a year.” Cuomo spokesman Josh Vlasto said, “This is a common-sense fix for a problem that could cost New York rate-payers hundreds of millions of dollars per year.”

This whole issue started because of power generating companies’ property-tax abatements: Back in 2008, the Legislature changed the NYC tax abatement program from “as of right” to “discretionary,” meaning the tax abatements could be repealed at any time

but the city ended up guaranteeing the abatements, making power generating companies’ request for money to replace the tax abatement unnecessary.

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Pa. to Electricity Suppliers: Fix Billing Problems – 866-572-2274

Fri, 03 Jun 2011 22:14:06 +0000

June 01, 2011|By Andrew Maykuth, Inquirer Staff Writer

The Pennsylvania Public Utility Commission, responding to an Inquirer article about potential overcharging by several residential electricity suppliers, has called upon the power industry to comply with PUC billing regulations.

In a letter dated Friday, the PUC ordered the state’s electric utilities and more than 100 licensed electricity suppliers to disclose any billing irregularities and “planned corrective measures.”

The PUC’s letter was prompted by a May 15 Inquirer article that showed how a Brooklyn electricity supplier had failed to disclose its rates on customer bills, and how another supplier had mistakenly billed 5,770 residential customers for sales tax.

The PUC, concerned that the billing goofs could undermine consumer confidence in Pennsylvania’s nascent deregulated electrical markets, gave the suppliers until June 10 to account for their billing practices.

Irwin A. “Sonny” Popowsky, the state’s consumer advocate, whose office had pursued two complaints from Inquirer readers, welcomed the PUC’s letter.

“Once the commission learned of the problems, it acted promptly and proactively,” Popowsky said. “This kind of response is necessary in order to maintain confidence in the electric market.”

Under the state’s Electric Choice Act, which took full effect Jan. 1 for Peco Energy Co. customers, traditional utilities such as Peco became solely distributors of power.

Customers can choose an alternative supplier that generates the power, often at a discount, or they can allow Peco to provide service at a default rate known as the “price to compare.” About 300,000 of Peco’s 1.6 million customers have switched since Jan. 1st.

Although Peco bills customers on behalf of the suppliers, the utility says it does not review the information and is not responsible for supplier billing lapses.

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For Commercial Customers, Peco Will Raise its Price to Compare – 866-572-2274

Fri, 03 Jun 2011 22:12:23 +0000

May 18, 2011|By Andrew Maykuth, Inquirer Staff Writer

Peco Energy Co.’s commercial customers who have not shopped for an alternative electric supplier might want to reconsider that strategy.

The Philadelphia utility announced Tuesday that its electricity prices for commercial customers would increase between 9.4 percent and 12.6 percent on July 1.

Peco’s commodity charge, which accounts for about two-thirds of a typical customer’s bill, will increase sharply to reflect the higher price of procuring power during the summer months, said Cathy Engel Menendez, the utility’s spokeswoman.

The increase won’t affect the 60,000 Peco small commercial customers who have switched electrical suppliers in Pennsylvania’s deregulated energy markets.

But nearly 100,000 shop owners, office managers, and manufacturers that have not switched from Peco might take a second look at alternatives in the face of the impending increase.

For small commercial customers, Peco’s price to compare will increase from 9.43 cents per kilowatt hour to 10.32 cents on July 1, a 9.4 percent increase.

For medium commercial customers, the rate will increase from 9.30 cents per kWh to 10.47 cents, or 12.6 percent.

According to Peco, the average monthly usage for general-service commercial customers – the GS Rate – is 4,530 kilowatt-hours, or about $565 a month.

A typical small business customer will see a monthly increase of $40 on July 1.

Peco had previously announced that residential charges would be increasing by 4.3 percent on July 1. On Tuesday, Peco was more specific, saying its residential price-to-compare will increase from 9.99 cents to 10.42 cents. For consumption above 500 kilowatt-hours, the price will be 11.69 cents per kWh.

Peco says that the commodity prices are based on procurement contracts with power generators, and that the utility passes the cost along to customers without markup. The supply contracts are based upon tightly structured market-based auctions.

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Some PPL Customers Hit Hard by Rate Increase – 866-572-2274

Fri, 03 Jun 2011 22:10:43 +0000

May 21, 2011|By Andrew Maykuth, Inquirer Staff Writer

PPL Electric Utilities customers live in a topsy-turvy world.

The Allentown utility on Friday announced new quarterly supply rates for its customers, including an increase of more than 64 percent for customers who signed up for hourly time-of-use rates.

The rates of small commercial customers will increase 33 percent on June 1.

But most residential customers – nearly 900,000 of the utility’s 1.4 million customers – will see a 5 percent decrease.

The rate adjustments do not affect about 38 percent of PPL customers who have switched to alternative suppliers in the utility’s deregulated marketplace.

PPL spokesman Michael O. Wood said the 21,000 customers who switched to hourly rates this year can switch back to the utility’s flat default rate immediately. He said most were expected to switch.

In Pennsylvania’s deregulated marketplace, utilities must adjust their supply rates quarterly to reflect fluctuations in the electric commodity markets. The utilities pass the costs along to customers without markup.

The quarterly changes do not affect the utility’s distribution charge, which all customers pay no matter who supplies their power.

More than 538,000 of PPL’s 1.4 million customers have switched suppliers since the market rates took hold 17 months ago, a year ahead of Peco Energy Co.’s rates.

The most severely affected customers will be those who opted for PPL’s new two-tiered time-of-use rates, which charge a higher price during peak hours, between 1 and 6 p.m. on weekdays.

Customers who signed up for those rates, which were steeply discounted during the winter, were warned they would likely increase in the summer. Now comes the rate shock.

The price for on-peak hours will increase 64 percent, from 7.54 cents per kilowatt hour to 12.37 cents.

The price for off-peak hours will increase 75 percent, from 6.1 cents per kilowatt hour to 10.65 cents.

The new price to compare for PPL’s 900,000 residential customers who have stayed with the utility will be 8.77 cents per kilowatt hour, a decrease from the current 9.27 cents per kWh. A typical residential customer using 1,000 kWh monthly will save about $5.

Wood said the dramatic difference in prices was the result of the different way the Public Utility Commission requires the utility to procure power.

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Albany Bill Takes Aim at Utility Rate Hike – 866-572-2274

Fri, 03 Jun 2011 16:43:36 +0000

Wednesday, May 18, 2011 – 06:27 PM

By WNYC Newsroom

The state legislature has unanimously approved a bill that supporters say could prevent a 12 percent rate hike in energy prices.

Under the bill, power plant operators will be exempt from property taxes. Until now, those tax abatements had been discretionary and only some companies received them.

In a statement, Governor Andrew Cuomo said he and Mayor Michael Bloomberg are asking the Federal Energy Regulatory Commission to reverse its approval of the rate hike because of the new bill. The increase is supposed to go into effect next month.

full story>>>

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Peco Will Raise its Price to Compare for Commercial Customers – 866-572-2274

Fri, 20 May 2011 11:31:04 +0000

May 18, 2011|By Andrew Maykuth, Inquirer Staff Writer

Peco Energy Co.’s commercial customers who have not shopped for an alternative electric supplier might want to reconsider that strategy.

The Philadelphia utility announced Tuesday that its electricity prices for commercial customers would increase between 9.4 percent and 12.6 percent on July 1.

The increase won’t affect the 60,000 Peco small commercial customers who have switched electrical suppliers in Pennsylvania’s deregulated energy markets.

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