Customers of Eversrouce Energy in New Hampshire, formerly the PSNH electric utility, are discovering that they have the ability to shop for competitive power rates through the state’s energy choice program. Though electricity choice has been present in New Hampshire since 2003, customer awareness has not gained traction until the last several months, due to a large discrepancy between competitive rates and the Eversource default rate that has manifested. The default rate, often referred to as the Price to Compare, is the price for electricity supply that customers pay who do not choose an competitive energy supplier.
In recent months New Hampshire residents have taken the time to learn about energy choice as competitive suppliers have been offering electricity rates well below the Eversource Price to Compare. In New Hampshire, Everource Energy makes money by delivering power to homes and businesses within their service area at distribution rates that are regulated by the New Hampshire Public Utility Commission. They do not earn profits from the default Price to Compare rates that they offer to non-shopping customers. Eversource New Hampshire delivers power to their customers, responds to power line emergencies, and sends the monthly electric bill to their customers regardless of whether the customer participates in energy choice by buying their power from a competitive supplier. New Hampshire energy choice simply gives the consumer the ability to replace their default price for electricity supply with a competitive price that might be lower, resulting in lower monthly electric bills.
In addition to lower electricity prices, New Hampshire electric choice also provides consumers with multiple options regarding their energy expenditures. Customers can choose to purchase power that is sourced from renewable entities such as wind turbines. The length of the electricity contract could be a leading factor for some consumers, while less of a factor for others. While some people will just want to find the lowest price to replace the default rate and maximize their savings, other consumers might be willing to pay a little more in order to lock in their rate for a period of three years in exchange for price stability. With over 1.3 million people living in New Hampshire, electricity choice has made it possible for each consumer to select a rate plan based on their individual demands.