Trystan Casey
In New Hampshire, consumers have the freedom to choose their energy supplier. This means that they can purchase electricity from competitive third-party providers that may offer cheaper rates than the utilities. When changing electricity suppliers, consumers should review the list of competitive energy suppliers, compare the offers available, carefully consider the rates and terms of the contract, and understand the billing process. It is also important to note that all electric distribution companies and energy suppliers in New Hampshire must follow rules and regulations that protect consumers, ensuring they receive safe and reliable service.
| Characteristics | Values |
|---|---|
| Process to change electric supplier | Review the list of competitive energy suppliers on the Public Utilities Commission website and compare the offers that are available. |
| Carefully consider the rates and terms of the contract. | |
| Understand the terms of the contract by asking the provider questions about the contract. | |
| Choose your energy supplier based on price, service options, environmental considerations, or any other factors that are important to you. | |
| If you do a longer-term contract, you can lock in your rate for upwards of 2-3 years. | |
| You will continue to receive dependable electric energy. | |
| It's free to switch. | |
| You get the exact same electricity, all that changes is the rate you pay and who gets your money. | |
| Your billing may change. Some providers bill jointly with the utility, while others bill separately. | |
| You are not required to buy electricity from your utility. Instead, you can purchase electricity from competitive third-party providers that may offer cheaper rates. | |
| Eversource, Liberty, and NH Electric Co-op deliver electricity using the same power line infrastructure and billing mechanisms. | |
| Hanover Community Power combines the buying power of residents and businesses so that together we can achieve competitively priced electricity. | |
| The current best alternative to Eversource is Direct Energy, a North American energy retailer with four million customers in the U.S. and Canada. |
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What You'll Learn
Choosing a new supplier based on price, service, environmental considerations
When choosing a new electricity supplier in New Hampshire, there are several things to consider, including price, service, and environmental impact.
Firstly, let's talk about price. The New Hampshire Department of Energy recommends reviewing your electric bills to determine the portion allocated for delivery and electricity usage. You can then compare these with the offers from competitive energy suppliers. Look for the price per kilowatt-hour (kWh) and consider whether the price is fixed or variable. A fixed-price contract offers stability, protecting you from market price increases, but you also won't benefit from any market price decreases. On the other hand, a variable price contract may offer more flexibility, allowing you to take advantage of potential price drops, but you also risk paying more if the market price increases.
When considering the service provided by different electricity suppliers, it is essential to review the terms and conditions carefully. Pay attention to the contract length and understand the cancellation process and any associated fees. Additionally, be mindful that some suppliers may change their rates frequently, so locking in a rate for a longer-term contract could potentially save you money in the long run.
Lastly, if environmental considerations are important to you, you may want to look into suppliers that offer renewable energy options, such as solar power. While some suppliers may not explicitly market themselves as "green," they might still offer partial renewable energy sources, so be sure to inquire about their energy generation methods.
Remember, switching electricity suppliers in New Hampshire is a straightforward process, and you have the freedom to choose a supplier that best aligns with your values and budget.
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Reviewing the list of competitive energy suppliers
In New Hampshire, no one is required to buy electricity from their utility. Instead, you can purchase electricity from competitive third-party providers that may offer cheaper rates than the utilities. The New Hampshire Public Utilities Commission will continue to monitor electric distribution companies and energy suppliers to ensure that New Hampshire consumers receive safe, reliable service.
When reviewing the list of competitive energy suppliers, it is important to compare the offers that are available. Various providers may have different prices or contract lengths, or they may offer renewable energy options. For instance, a Bulletin reader recently switched to a competitive supplier charging 12.7 cents per kilowatt-hour for a 30-month contract. The current best alternative to Eversource is Direct Energy, a North American energy retailer with four million customers in the U.S. and Canada. Their current best fixed rate for new customers is 13.59 cents for a 28-month contract. There are other companies listed that provide cheaper competitive fixed rates for new and existing customers. These include ENH Power, North American Power, Smart Energy, Townsquare Energy, and XOOM Energy New Hampshire.
It is worth noting that locking in a long-term contract, especially if you own a home, can result in significant savings as rates tend to increase over time. For example, a reader commented that they locked in with Direct Energy at a rate of 10 cents for 33 months, which is good for a few more years. However, utilities change their rates every 6 months, so there is a risk that you could end up paying more than their standard rate if it goes down in the future. Therefore, it is important to carefully consider the rates and terms of the contract and understand how much they will charge per kilowatt-hour of electricity, whether the price is fixed or variable, and whether there are additional charges or recurring fees.
Additionally, some providers bill jointly with the utility, resulting in a single monthly bill, while others bill separately, leading to two separate bills for the electricity delivery and energy usage. It is also important to remember that regardless of which energy supplier you choose, New Hampshire Electric Cooperative will continue to be your electric distribution company and will deliver the electricity to your home or business.
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Understanding the terms of the contract
Understanding the terms of your energy contract is crucial when switching electricity suppliers in New Hampshire. Energy contracts are legal agreements between energy suppliers and end users, outlining the terms of the supplier's service. While each contract is unique, certain key components are mandated by the New Hampshire Public Utilities Commission and Public Service Commissions. Here are some essential aspects to consider:
Fixed-Rate Contracts:
Energy suppliers often offer fixed-rate contracts, locking in a rate for an extended period. While this provides stability, it's important to understand the potential impact of usage deviations. Suppliers calculate fixed prices based on forecasted usage, and actual usage may differ, affecting their bottom line. Suppliers may include bandwidth or swing clauses to protect themselves, allowing them to charge market prices or penalties for excessive or insufficient energy usage.
Variable Rates:
If your contract expires and you don't respond to renewal notices, your supplier may continue service but switch you to a variable rate. They must provide advance notice of price changes. Variable rates can be unpredictable, and you may end up paying more than the standard rate. Review your contract's disclosure statement to understand potential penalties or cancellation fees associated with switching rates or suppliers.
Early Termination and Cancellation Fees:
Always look out for early termination penalties or cancellation fees. Commercial contracts often include substantial early termination fees, which can be financially detrimental. Be aware of these clauses before signing, and don't hesitate to contact your supplier for clarification. Some suppliers may also charge monthly management fees on top of fixed rates, so be vigilant about hidden fees and charges.
Billing and Payment:
Understand how your new supplier handles billing. Some providers bill jointly with the utility, resulting in a single monthly bill. Others bill separately, meaning you'll receive one bill from your utility for delivery and another from your supplier for energy usage. Know what to expect to manage your finances effectively.
Material Changes and Bandwidth Provisions:
Pay close attention to material change provisions and bandwidth provisions in your contract. These provisions outline how changes in your energy usage may impact your costs. Understand your contracted "band" of stated use and be aware of any additional costs incurred outside this band. Review your contract thoroughly and consider seeking legal counsel to fully grasp these provisions and their potential financial implications.
Understanding the terms of your energy contract is essential to making informed decisions about your electricity supplier in New Hampshire. By grasping the nuances of fixed-rate contracts, variable rates, early termination fees, billing practices, and material changes, you can better navigate the energy market and choose a supplier that aligns with your needs and budget.
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Billing changes
In New Hampshire, no one is required to buy electricity from their utility. Instead, you can purchase electricity from competitive third-party providers that may offer cheaper rates than the utilities.
If you decide to switch your electricity supplier, your billing may change. Some providers bill jointly with the utility, in which case you would still receive one monthly bill. Others bill separately, in which case you would receive two bills: one from your utility for delivering the electricity, and another from your new provider for the energy you used.
If you do a longer-term contract (especially if you own a home), you can lock in your rate for sometimes upwards of 2-3 years. This can result in big savings, considering the rates tend to just go up. However, utilities change their rates every 6 months, so there is a risk that you could end up paying more than their standard rate if it goes down in the future.
For example, Eversource, the state's largest utility, has been reported to frequently change its rates. In 2022, Eversource's rates doubled, causing bills for a typical household to increase by 53%.
It is worth noting that even if you switch suppliers, New Hampshire Electric Cooperative will continue to be your electric distribution company and will continue to deliver the electricity to your home or business.
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Hanover Community Power
By purchasing electricity in bulk, HCP can secure more competitive prices. Additionally, HCP can control price volatility and choose which energy sources to buy or build. Participants in HCP can purchase power with higher levels of renewable power (from 24.3% to 33.4%, 50%, or even 100%) as defined by the State's Renewable Portfolio Standards.
To switch to Hanover Community Power, residents can submit a request to buy power from HCP in advance of their next utility meter read date. Their current utility will continue to deliver electricity and handle transmission and any power outages.
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Frequently asked questions
You can change your electricity supplier in New Hampshire by reviewing the list of competitive energy suppliers on the Public Utilities Commission website and comparing the offers available. You can compare them based on price, service options, environmental considerations, or any other factors that are important to you.
No, you do not need to do anything with your previous electricity supplier. The switch will be handled by your new supplier.
It takes a billing cycle or two to switch electricity suppliers in New Hampshire.
You may save money by switching electricity suppliers in New Hampshire, as different suppliers offer different rates and contract lengths. However, it is important to carefully consider the rates and terms of the contract before switching, as there is a risk that you could end up paying more than the standard rate if the contract rate is not fixed.
No, there are no risks to switching electricity suppliers in New Hampshire, as all electric distribution companies and energy suppliers must follow rules and regulations that protect consumers.
