In today’s AUSenergy News Update: National Grid says winter electricity rates will be highest ever, Low natural gas supplies could mean higher prices this winter, and ComEd “Peak Time Savings” program announced.
Summary: National Grid expects its six-month electricity rate for customers in Massachusetts will rise to its highest level this winter. The rate increase is said to be caused primarily by the region’s increased reliance on natural gas and the inadequate capacity of gas pipelines coming into the area.
AUS Comment: This winter’s price, once approved by regulators, would be almost double the current 8.3-cent per kWh price and well above the 10.02-cent per kWh price last winter. Customers are advised to work with AUS to lock in a portion, if not all, of their load, combined with a product that offers some swing variance.
Summary: A combination of lower-than average gas supplies and the looming threat of a colder-than-normal winter could lead to even higher price spikes than last year.
AUS Comment: Despite record production, natural gas storage levels are still below their five year range heading into the winter season. Again, customers are advised to work with AUS to lock in a portion, if not all, of their load, combined with a product that offers some swing variance.
Summary: ComEd residential customers with smart meters can sign up for a new program that rewards them, with credits on their bills, for reducing power use at their homes during times when electricity demand is highest. Customers could earn a total credit of $4 to $12 in a “peak time” period by adjusting their thermostats or delaying energy-intensive tasks to non-peak hours. Participants will receive $1 credit per kWh curtailed.
AUS Comment: ComEd customers equipped with smart meters who wish to participate in ComEd’s new “Peak Time Savings” program can sign up from October 1 to April, 2015. Those who sign up after April 2015 will be able to participate no earlier than summer 2016. Contact Alternative Utility Services if you have any questions.
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