It’s been over 10 years since New Hampshire deregulated electricity in the state, which opened the markets for alternative electric suppliers to generate electricity for residents and business consumers. The intended effect was to use a competitive market to help drive down the cost of energy. So far, both officials and consumers consider deregulation a success in New Hampshire.
Here’s an overview of the history of energy deregulation in New Hampshire, as well as how it benefits you…
What Is the History of Energy Deregulation in New Hampshire?
New Hampshire’s deregulation of electricity was a multi-step process, which included:
Once Unitil Energy Systems restructured and offered electric choice, the deregulation of energy was complete across the state.
- In 1996, the legislation directed the New Hampshire Public Utilities Commission to develop an electric choice program that could be implemented by 1998.
- The Public Utilities Commission completed their plan by 1997.
- The Granite State Electric Company restructured and offered electric choice in 1998.
- The Public Service Company of New Hampshire, which services 70% of retail consumers in the state, restructured and offered New Hampshire business and residential consumers retail choice in 2001.
- Unitil Energy Systems restructured and offered electric choice in 2003.
How Many Consumers in New Hampshire Take Part in the Electric Choice Program?
As of 2012, just 5% of residential consumers had switched to an alternative electric supplier in New Hampshire, although a much larger number of businesses had made the switch.The reasons why so few residential consumers have switched include:
- Aggressive marketing by alternative energy suppliers has largely focused on the big business and industrial customers. Some residents aren’t even aware that they have the option to choose a new electric supplier.
- A low number of alternative electric suppliers entered the market in the beginning stages of electric choice. That’s changed now, and the more competitive atmosphere has created more favorable electric rates for New Hampshire businesses and residents.
However, experts and analysts expect tens of thousands of consumers and businesses alike to switch in the coming years, as more suppliers enter the market and help drive down the electric rates.
How Do New Hampshire Residents and Business Owners Take Part in Electric Choice?
Shopping for alternative electric suppliers is a fairly quick and easy process, and you’re also likely to find it an eye-opening experience once you see your estimated savings. Here’s how to shop and switch…
Step 1: Compare competitive electricity supply rates in New Hampshire.
Step 2: Choose a new electricity supplier with a rate and term length that works for you.
Step 3: Review the plan details and if there is a cancellation fee.
Step 4: Select the plan and complete the enrollment form.
Your new supplier will take effect on the next possible meter read date. Your local utility company will still deliver your energy, send you the bill and handle customer service but your supplier will be different and provide you with the rate you chose.
New Hampshire residents and business owners agree that energy deregulation was a great choice for the state. Research your options today! Compare rates and save!