Gas & Electric News

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If you have any questions contact the City Representative, Ted Lux: (440) 526 - 2499

Natural Gas and Electricity Updates

NATURAL GAS

Prices have been relatively steady for more than a year considering that natural gas is the most volatile of all commodities. The natural gas futures contracts on the commodities exchange indicate that rates will be between $3.20 and $3.35 per mcf from December through March and then go back to between $2.90 and $3.00 where they are now. But the commodities exchange is just as volatile as the stock market so don’t assume that projection will hold true. Overall however, there isn’t much to worry about.

With this in mind our recommendation is still that everyone should have NOPEC-NextEra Energy’s variable rate for gas. The variable rate right now is $2.95 and will probably be about the same through your November bill.
The “program rate” (sometimes falsely identified as a fixed rate) is only a penny more at the moment. The variable rate is still preferred because it typically averages about 40 cents per mcf less than the “program rate.”
To get the variable rate call NOPEC at 1-855-667-3201.
At this time of year we get inundated with mailers and calls and even door-to-door sales people hawking offers by the for-profit companies. YOU DON”T WANT THEM!!!!!!!

If you don’t see NOPEC-NextEra Energy Services half way down the left side of your bill, OR the letters SSO or SCO, you are more than likely paying too much. I suggest that you cancel with that company (for example it might be IGS, Direct Energy, Integrys, Ohio Natural Gas, Constellation, Dominion Energy Solutions, etc.) The cancellation will only take effect after your next meter reading. When the cancellation goes through you will automatically be sent back to the regular gas company, Dominion East Ohio. (Remember, Dominion Energy Solutions is NOT Dominion East Ohio. But Dominion Energy Solutions wants you to believe that they are.)
After you are back with Dominion they will keep you for two billing periods and then send you to a for profit company, BUT, that company must charge you what Dominion would charge you.
If you cancel a for-profit company it is VERY important that you make sure that there is no early termination fee! They can be anywhere from $25 to $150!! If they tell you that you have an early termination fee ask when your contract is up and cancel then, unless your rate is outrageous like more than $5.00 per mcf. Then call Ted at 526-2499.
Most people know the following, but I’ll remind you again…in the cancellation process and the process of changing from one supplier to another you will NEVER be in danger of not having gas!


ELECTRICITY

First and most importantly, and this has been said many times and it’s still true. The most important thing to remember about electricity is that no matter what rate you are paying you can’t lose a lot of money and you can’t save a lot of money.
Just like gas, NOPEC-NextEra Energy is the recommended choice. There are lower rates but the savings are nothing to write home about and once again you run the risk of being rewarded with a higher rate at the end of the contract when you’re not looking.
Electricity prices have also been relatively stable. This summer there was a jump from about 5 cents per KWH to between 6 and 6 ½ cents.  Two years ago it was 6.75 cents per kilowatt hour. When it comes to electricity there is nothing to get excited about. The sky is not going to fall. Using an average summer usage of 1,000 kwh and comparing 5 cents per kwh and 6.5 cents per kwh it computes to a difference of $15 to $20 during the summer months. Unlike gas it’s difficult to project where electricity rates will go. They could go back to 5 cents per kwh as they were before summer or stay where they are. But as you can see there is no major cause for concern.
Many people have no idea where to find on their electric bill the rate they are paying.
On the upper left hand side of the bill is “PRICE TO COMPARE.” At the bottom of that paragraph you’ll see “Residential Service” followed by some numbers and then a rate. That is the rate you would be paying if you were buying your electricity directly from the Illuminating Company. The rate you are actually paying is on the right side of the bill about 60% down in the box labeled “Charges from NOPEC-NextEra Energy Services Ohio.” The second last line in that box begins with “Basic Charge” followed by the number of kilowatt hours you used that month and then your rate beginning with 0.0.
Just like natural gas there are plenty of electricity offers coming to you in any way possible except pony express.
One of the recent classics is free electricity for a month. Depending upon your usage that will probably be enough to buy a foot long at Subway.
If you need to call NOPEC the number is the same as gas, 1-855-667-3201.

Finally, when in doubt, always call Ted with questions. 526-2499.

The opinions expressed in this advisory are solely those of Ted Lux and are not endorsed by the Mayor or City Council of the City of Brecksville.
 

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The opinions expressed in this advisory are solely those of Ted Lux and are not endorsed by the Mayor or City Council of the City of Brecksville.