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

October 25, 2018

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 (NYMEX) indicate that rates will peak at about $3.30 per mcf between December and March and then go back to between $2.70 and $3.00 in the spring. 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 NOPEC variable rate on September bills was $2.87, $2.94 on October bills and it will be $3.07 on November bills.
The “program rate” (sometimes falsely identified as a fixed rate) is $3.39 at the moment and going up to $3.75. The variable rate is still preferred because it rarely is higher than the “program rate.”
To get the variable rate call NOPEC at 1-855-667-3201, especially if you have $3.39 or $3.75 right now.
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, 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 Energy Ohio. (Remember, Dominion Energy Solutions is NOT Dominion Energy 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 ever see the letters MVR (monthly variable rate) call Ted immediately! That not good Keem-O-Sabe. You’ll be paying too much!
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 Lux at 440-526-2499.

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.