Power generation projects, which have to sell their power to these bankrupt utilities, require creative financing structures to get around these problems. In a bid to reduce their risk when financing these projects, bankers employ financial tools like put call options agreement or World Bank partial risk guarantees. The problem is these tools add complexity and cost which end up being passed on to the end-user or worsen the financial state of the power utility.
In Pennsylvania, you can choose from the EGSs operating in your area, or stay on with your default provider — your EDC. Currently, less than half of all Pennsylvania’s residential customers have made the switch. If you’re among that number, moving to an EGS could get you cheaper rates, better rewards, and more say in what fuels generate your electricity. Whichever you choose, your electricity will get to you just the same because the EDC is always responsible for delivery.
As a renter, you’re likely concerned about getting your electricity contract’s start and end dates to match your lease term as close as possible. In most cases, your electricity provider will offer flexible start dates and some even offer same-day connections. If you can’t line up your electricity contract exactly with your lease term, it’s okay. It’s better to choose an electricity plan with a slightly longer contract term than your apartment lease if necessary. If you move and provide proof of a change in address, your electricity provider cannot charge you an early termination fee.
Many people are aware that Iceland has the cleanest energy in the world by far. The island-nation generates 100% of its electricity from renewables such as hydroelectric and geothermal sources, and it’s also flirting with wind power. What those same people might not realize, however, is that this results in some of the cheapest electricity in the world.
Maryland residents are now able to choose who supplies their electricity. (Customers of municipal electric systems and some rural cooperative systems are the exceptions - see "Areas not participating.") Your local utility, now called your electric company, will still deliver the electricity to your home, but you can choose another company to generate the electricity, if other companies are making an offer in your area.
If you’re on a fixed rate tariff with your current supplier, check to see if there’s an exit fee for leaving the contract early. If there is, you’ll need to factor this cost into your price comparison as it could swallow up some of the potential savings. If you can supply your tariff name when you get a quote, we can take your tariff into account when showing you the savings you could make.