I just received an email from Massenergyrates.com (who I used before) that National Grid intends to raise rates >.34 come Nov and beyond. Buying energy seems more like gambling than anything:

My current contract is .147 fixed ($50 early cancellation) which runs until Feb. Currently the cheapest contract I can find are 36 mos .179, 24mos .199 (both with $150 early cancellation) or 24mos .229 (no cancellation).

Do I eat the $50 early termination fee and lock in a ~.20 2yr contract (hoping that rates won't decline precipitously) or do I wait until my current contract expires in Feb, taking a risk that rates will be anywhere close to what they are now?

Wasn't setting up this system supposed to make things easier for the consumer? Why is it so complicated just buying energy?

Fuel Assistance for the first time for me this year. :(

Comments

cfk77 t1_ir28hiu wrote on October 4, 2022 at 8:12 PM

#31,073

I think you need to consider your heating and cool needs and how much energy you use. $50 isn’t much if your monthly bill is greater than $100

itallendsintears t1_ir2f1n7 wrote on October 4, 2022 at 8:52 PM

#31,387

Move to a town that has a municipal owned electric company and never worry again. I did so quite accidentally 14 months ago and let me tell you it will be number one deciding factor if I ever move again. My electric was 45 bucks last month

Waggmans OP t1_ir2tyu7 wrote on October 4, 2022 at 10:32 PM

#32,014

Replying to cfk77 (#31,073)

I live in a very old drafty apartment with big windows and use electric heat.

I'll probably have to eat the $50 cancellation fee. Then watch the price of energy dip in the spring...

techorules t1_ir2zlas wrote on October 4, 2022 at 11:14 PM

#32,256

Replying to itallendsintears (#31,387)

Me too, moved 3 years ago and what a happy surprise. The low rate set over 10 years ago is not expected to change in the foreseeable future. Pushed me to replace my propane heating system to a whole house heat pump system, replace my propane hot water heater with a electric heat pump hybrid and replace my car with an EV. I’m all in and while that was a lot of capital my operating costs for energy are tiny.

TywinShitsGold t1_ir30rue wrote on October 4, 2022 at 11:23 PM

#32,300

Replying to itallendsintears (#31,387)

Wish I could afford to buy here. But rent increases keeps taking all my budget excess.

Elecrockcity t1_ir32uw9 wrote on October 4, 2022 at 11:39 PM

#32,407

You know what happens when public programs are complicated?

Corruption

unhappybuffalo t1_ir36w64 wrote on October 5, 2022 at 12:10 AM

#32,587

One thing to keep in mind- the rate will go down somewhat in the spring if history is any indication. National Grid posts their historical retail rates which will give you a sense of the basic service rates: https://www.nationalgridus.com/media/pdfs/billing-payments/electric-rates/ma/resitable.pdf

I don't have a good answer for you but good luck- I know it's going to be a tough winter with the energy prices.

Head_Zombie214796 t1_ir3co01 wrote on October 5, 2022 at 12:54 AM

#32,898

Replying to unhappybuffalo (#32,587)

we all know what goes up never comes all the way down, unless you are talking gravity

unhappybuffalo t1_ir3dwvc wrote on October 5, 2022 at 1:04 AM

#32,962

Replying to Head_Zombie214796 (#32,898)

This is true- I wasn't intending to say it would go all the way down. I edited my comment to clarify.

Illustrious-Nose3100 t1_ir3eesd wrote on October 5, 2022 at 1:08 AM

#32,998

Replying to Waggmans (#32,014)

Tip: those plastic films you can put over windows truly do help. They’re ugly as heck but they work

Waggmans OP t1_ir3u1tk wrote on October 5, 2022 at 3:14 AM

#33,847

Replying to Illustrious-Nose3100 (#32,998)

Unfortunately I live in a converted school with oversized windows, part of the problem. Nobody wants to do anything in here.

Waggmans OP t1_ir3uh1m wrote on October 5, 2022 at 3:18 AM

#33,864

Replying to unhappybuffalo (#32,587)

My .15 flat rate expires early Feb. I’m not really sure what to do at this point.

wittgensteins-boat t1_ir56uus wrote on October 5, 2022 at 12:51 PM

#35,834

Replying to Waggmans (#33,847)

But you are not nobody.
The cost of the plastic film or kit can save on heat if you install yourself.

Twombls t1_ir5fiqj wrote on October 5, 2022 at 1:58 PM

#36,298

Lollol gotta love deregulation

Twombls t1_ir5fy6u wrote on October 5, 2022 at 2:01 PM

#36,328

Replying to itallendsintears (#31,387)

The thing is. The industry keeps moving to "retail choice" deregulation like this. People come in and sell deregulation as "good for the consumers". Its really not though.

Twombls t1_ir5g2eb wrote on October 5, 2022 at 2:02 PM

#36,335

Replying to Elecrockcity (#32,407)

This is privatized deregulation though. Public utilities are much simpler to buy power than this. This model of energy selling is basically the libritarian wet dream. All the electricity comes from the same grid. But you get to choose which scalper you get to buy from that treats it like a stock market casino!