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NH Electric Rates and Deregulation in New Hampshire
New Hampshire went through a state-wide restructuring of its utilities in 1996. The Public Utilities Commission deregulated the state and established the electric choice program.
Deregulation drives competition among suppliers by giving consumers the freedom to choose their supplier. This keeps the cost of energy down and removes the monopolies that come with a regulated market.
Energy market prices change daily, just like the stock market. From economic shifts to weather events and basic supply/demand changes, the rates can change from one day to the next. These shifts can be in your favor as a consumer because you can review your supply costs and pursue the lowest rate on the market. No matter if your commercial agreement expires next month or two years from now, you can lock in a future start date and take advantage of the current market.
New Hampshire Electric Utilities
The supplier you sign with will send your power to your utility. Electric utilities are distribution companies that operate in set service regions. Rather than choosing your utility, you’ll depend on one based on your address.
Your utility is your point of contact for issues relating to your bill and distribution concerns. If you see a downed power line or lose power, you can contact your utility for help. Here’s where you can reach the four New Hampshire electric utilities:
Eversource: (800) 662-7764
Liberty Utilities: (800) 833-4200
Unitil: (888) 301-7700
New Hampshire Electric Coop: (800)343-6432
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Residential and Small Commercial consumers using less than 250,000 kWh’s per year can view NH electric rates today via our shopping portal.
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Types of Electricity Plans in New Hampshire
In New Hampshire, there are man options for consumers to choose from when it comes to the type of contract. Knowing your options is key to making the best decision for your business or home. Let’s review them with you and find the best overall strategy together.
Fixed-Rate Plan
A fixed-rate stays the same for a set period (“term”), and it can be good if the market is at a low point when you sign the contract to lock in for a longer period of time.
Variable-Rate Plan
Variable contracts change the rate each month. This rate type is similar to investing in stocks. While your rate could be high for a month, it might reach an deeper low later on.
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What You Need to Know About New Hampshire Electric
Before your next agreement is signed, you’ll want to review these few things.
Contract Terms
First, you need to find out when your current contract ends. If you try to start service with a new supplier before your contract ends, you’ll likely owe early termination fees. Contact your current supplier to receive a confirmed end date.
Promotions & Incentives
Often, residential options are advertised as introductory rates. This means that the advertised rates you may see online are only for first-time customers. After that, you would be ineligible for any promotions or incentives they currently are advertising.
Additional Fees
Understand your contract language before you sign. Not all contracts are created equal. There are conditions that can allow for pass-throughs, monthly fees, and different cancellation terms. We can help you navigate this with a quick discovery call.
Familiar Electricity Terms
Here are the common terms in electricity deregulation you may come across:
Supplier
In a deregulated energy market, suppliers are companies who you can purchase energy from instead of your utility.
Utility
Utilities are set based on your home or business address. They are in charge of your power lines and distributing the power you purchased from the supplier.
Consolidated and Dual Billing
With a consolidated bill, you are getting one bill that includes both supplier and utility charges. This bill usually comes from the utility. With dual bills, you receive a bill from the supplier and a bill from the utility each on their own.
Simplified Ways to Switch.
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