Capped Rates and Deregulation
As Deregulation spreads throughout the market there is one thing that is becoming increasingly prevalent. Many electric providers that previously had capped rates are raising their rates substantially. An example of a recently deregulated supplier in Pennsylvania is PPL. The average residential consumer that did not pick an alternative supplier for their electricity saw a rate increase of almost 30%. PPL remarks that part of their rate increase and deregulation preparation was to make users aware that they could pick their supplier; they mentioned that this effort was undertaken three years in advance. In addition to increasing awareness they also increased energy conservation and efficiency programs.
The concept of being able to pick your electricity supplier is still very foreign to most consumers. In the past if you moved to a new area you didn’t ask for multiple suppliers that sold electricity; you simply signed up for the single utility that sold for your area. A lot of the caps that are currently in place are because most locations only had one utility provider. Deregulation now allows users in select states to choose who provides their electricity, which allows them to look for the provider that meets their needs at the lowest price. For some the price may be the only important aspect, others may want something more, such as green or renewable energy.
Regardless of what you are looking for Viridian Energy meets most requirements and has a hassle free sign up process. For PPL customers Viridian offers a lower rate and has already met the 2020 Renewable Portfolio Standards (RPS) of 20% green energy and can even supply 100% green energy if requested. The Viridian rate is actually 6.3% less than the PPL rate. Most people would expect to pay more for green energy, but with Viridian the average PPL home saves $138.60 a year and helps the environment. Once you have received a lower rate from Viridian consider monitoring and managing your usage with a home energy monitor to decrease your bills even further. A combination of a home energy monitor and Viridian could easily result in savings of 18% or more saving you $400 a year on your electricity bill. In these tough economic times can you afford not to save as much as possible?