Save With Best MA Electricity Rates
Earlier this month, the MA Attorney General’s Office announced the findings of an 8 year study about the state’s energy choice market. The study concludes that ratepayers overpaid $577 million more on their electricity bills if they had stuck to basic service rates. While this does sound bad, the study does point to the period from July 2022–June 2023 when customers realized about $30.4 million in net savings for the year. This tells us that savings are possible in the MA energy choice market. But how do customers actually save on their MA electricity, especially with the volatile natural gas market?
The simple fact is that you have to how to shop for the best energy plans in town. So let’s find out how you can shop and save with the best MA electricity rates.
How To Shop Cheap MA Electricity Rates
Before you start shopping, be sure to jot down your utility’s basic service rate because you’ll compare it during the shopping process. Keep in mind that basic service rates change twice per year. For example, Eversource is currently charging 17.552 cents per kilowatt-hour (kWh) through to the end of July. If we compare that to the 577 kWh of energy used by average in MA, this means a monthly supply charge of about $101.
Once you have that info, check out competing electricity rates. Look for plans that are cheaper than the basic service rate and last longer than six months. Like right now, Constellation is offering the 20 Month Home Power Plan, for 13.49 cents per kWh, or about $77.83 monthly supply charges (nearly $30 less than Eversource)!
Also, remember to read and understand a competitive supplier’s terms of service. The terms of service can include things like late fees, monthly service charges, early termination fees, and most importantly what happens when your contract ends. Be sure understand these terms before you agree to the plan.
More Energy Shopping Tips
You can always find the best deals when you shop Massachusetts electric rates. The key to shopping smart is to learn how the market works and stay informed on what it’s doing. So follow these protips:
- Choose Fixed Rates: Fixed rates offer predictable energy pricing. This makes planning a budget much easier. Variable rate plans follow market rates and fluctuate. They may be cheap some months, but they usually climb to high bills.
- Do Your Own Research: Scam companies may knock on your door to try to fool you with a low introductory rate that lasts one month. Don’t fall for that. Instead, read what real MA customers say about their providers before you decide.
- Know When to Shop: The energy market follows an annual cycle. The best times to shop are during the shoulder month periods of fall and spring. Milder weather cuts energy demand and that tends to cut prices.
Shop MA Electricity the Smart Way
You can start saving today if you follows these tips to shop smart. And the best way to shop smart is to visit https://www.maenergyratings.com to find the best energy deals in town. You can also count on us for all the news that could affect your bills.