CT Energy Costs to Decline Over Next 6 - 12 Months

Connecticut residents often find that the news about energy in their state isn't good. For example, the state's two major electricity providers have been ranked among the lowest in the entire nation when it comes to customer service. But every once in awhile Connecticut gets some good energy news and that happened recently when Commissioner Dan Esty announced that he expects energy rates to decrease considerably over the course of the next six months to one year.

The decrease comes thanks to changes in the laws as to how the energy companies procure their energy. Utilities have been buying their electricity three to four years into the future but new changes allow the companies to take better advantage of the ebbs and flows in energy prices. Utility companies can see when prices are low in certain markets and take advantage of that to offer lower rates to customers.

Recently approved legislation in the state merges the Department of Environmental Protection and the Department of Public Utility Control for the purpose of centralizing the state's energy policy and focusing on energy efficiency and reduced energy costs. The agency will assess future electric demands and determine how to best meet those demands, taking that power away from the utility companies and putting it in the hands of the government.

There are mixed feelings about the change but Esty says that it will result in rate drops that would of course please residents. He didn't make any predictions about the amount of the rate decrease but said it would be "measurable". One of the state's large utility companies predicted a drop of 5 - 10 % in January 2012.

Whatever ends up happening with this legislation and the results it produces, don't forget that there are many things that you can do to lower your own CT electricity bill. Smart choices for reducing energy waste around the home combined with switching to a lower cost energy provider can help keep your bills low.

Source: http://www.businessweek.com/ap/financialnews/D9O4ESHO1.htm