Connecticut
is relatively an expensive area in the United States of America with all time
flying costs in terms of salaries, taxes, land, and other expenses. This area
is also rated as the fourth high priced business
areas in the country. Certainly, these soaring costs in the state affect
electric companies and other participants in the utility market too. Electricity Prices in Connecticut are much higher than
the national average thus making the utility a costlier commodity for the
residents.
You can also
notice that, even though the Connecticut consumers use less power than the
nations average consumption there is no big difference in their monthly bills
in comparison to other states of the United States. They pay huge amounts on
their little usage as compared to the rates in other states. With Connecticut’s
rapidly growing Electricity
Prices and needs it is becoming difficult for the
common man to afford CT energy. Also saving the power is becoming a tough
competition for the locals in the city.
Connecticut Electricity Prices increase dramatically during peak demand,
particularly during the summer. With soaring temperatures around the rate of
consumption consequently rise thus increasing the monthly expense on the whole.
Connecticut Electric companies are striving hard to find
the possible aids to such huge rising costs thus are enforcing certain
conservative measures to help consumers reduce their expenses on utility.
According to CT Energy Info, some of
the measures that Connecticut
utility companies can implement in order to promote conservation and reduce Electricity Prices are as
follows:
·
Mandatory daily time of use rates for large commercial and industrial
customers.
·
Voluntary time of use rates for other residential customers.
·
Mandatory
seasonal rates for all customers.
·
Implementation
of smart meters to allow the consumers to have a track of their consumption
rates on a regular basis.
In the past,
all the electric companies had a monopoly on selling power in their service
territories. They owned and operated generation, transmission, and distribution
facilities alone. Their Electricity
Prices were regulated by public utility commissions (PUC) on a cost
of service basis. But since the deregulation was being implemented in the majority of states
in the U.S.A there introduced a trend of consumer choice on energy purchase. The Connecticut Electricity
companies as
part of deregulation were required to sell their electric generating plants to
private firms. As a result, they no longer one single company both
produces and supply utility to the consumers. Instead, they deliver energy
produced by others.
This deregulation opened up the power generation
market to retail competition that allowed CT utility companies to sell power and
compete in the open market. This also allowed the consumers to compare the CT Energy Info and shop
around the market looking for the best Electricity
Prices available in the area. All the CT consumers were also given
by the power to switch to the utility supplier of their choice if they feel the
old provider unreliable or costly. However, Deregulation was implemented to
encourage competition among multiple electricity suppliers, which would
ultimately drive down energy prices and help customers save money on monthly bills
by offering cheap and flexible rates.
Now in 2013,
Connecticut utility customers have more choices and greater access to cleaner
energy than ever before. Also post the deregulation, many new types of Eco
friendly power generation technologies are being developed and integrated into
the CT Energy market. According to CT Energy Info, different
sources of energy like Hydropower, wind energy and biomass are contributing to the state’s goal
of generating 27 % of Connecticut’s entire energy production by the end of
2020.
