Deregulation Hits PECO Market
The Pennsylvania electric company PECO will be opening their doors to deregulation starting the beginning of 2011. This opens up a brand new market full of potential. A cap has been placed on PECO’s electric rates for quite some time and upon the removal of this cap they plan to raises their rates significantly. With the new deregulated system PECO will allow new electric retailers to supply electricity to their customers, if customers do not pick a supplier PECO has a default supplier lined up. In fact, PECO is almost asking its users to switch to a new supplier by raising its rates by roughly 10%. If you are PECO users you need to become aware of your options.
Other Pennsylvania electric companies, such as PPL, have already been deregulated. When a utility company becomes deregulated it allows the users to pick who produces their electricity. The electricity you consume is made up of several different factors and in most cases the company that produced the electricity is not the same company that delivers the electricity. Looking at your utility bill you can witness this first hand by examining the various rate breakdowns. There will be generation, transmission, distribution and transition charges. Under deregulation competition is allowed between suppliers and competition generally leads to lower prices.
One company in particular called Viridian Energy will be servicing the PECO area. Viridian is distinct because their cheapest and most affordable package offers users 20% wind energy. Other options allow users to choose 100% wind energy if they desire. According to the Viridian Website users that switch generally save $35.56 a month, or, $426.72 a year. Viridian will start accepting applications from PECO customers Nov. 22. The Viridian sign up is simple, there is no enrollment fee, no cancellation fee and you are free to cancel at any time. Deregulation opens up multiple opportunities to find and receive lower electric rates.