If you haven’t yet shopped for a better deal in the past, you can benefit from the new generation rates if you find and sign up for an electric supply plan. The best way to do this is to go to the website of a rate comparison service like Arbor which will find and automatically switch you to a plan that has the lowest rate in your area. The best part is that there are no charges or penalties to change your provider.
The fact that the EDCs don’t charge a markup for power they provide is a major reason why meted bills are less expensive. They do earn a profit on the distribution portion of the bill which includes maintaining lines and responding when there are outages.
EDCs try to keep their distribution charges as low as they can. This helps to encourage competition among the retail electricity providers which can lower the “supply portion” of the utility bill.
A person with a significant electric bill that calls the local EDC could be recommended by the EDC to a retailer who is a participant in its Standard Offer Program. The program provides 7 percent savings over the EDC’s current PTC for a year and has no cancellation or termination fees.
In addition to offering discounted electricity rates, top Met-Ed electricity suppliers typically provide other incentives for their customers. These incentives can include HVAC rebates, appliance return programs and many more. Some even offer customers a lower electricity rate if they choose to sign a long-term contract with the company. These benefits are a result of the state’s decision to de-regulate the energy market for retail customers. In reality, there are more than 50 energy companies serving Met-Ed’s territories.