Index breaks down countrywide competitive rates

May 15, 2013 | By Barbara Vergetis Lundin

In a dozen states, American consumers can choose their electricity provider. New research from ClearlyEnergy breaks down current electricity supply costs -- the portion of the bill where consumers have a choice of supplier -- across 20 states and regions. The research shows that rates are highest in New York City, Houston and New Jersey and lowest in the Midwest.

New York City, New Jersey and South Texas have the highest competitive rates in the country at 10.6 to 10.9 cents/kwh, which translates into electricity costs of $1,100/year for an average household. The cheapest competitive rates in the country, at 40 percent, can be found in Ohio, Illinois, Western Maryland and Western Pennsylvania with rates between 5.4 and 6.9 cents/kwh.

"The cost difference between receiving electricity in New York City or Houston on the high end and Ohio or Illinois on the low end is about $500 per year for an average household," said Norma Jean Autry, co-founder of ClearlyEnergy, a provider of search solutions that simplify energy decisions. "New England, Mid-Atlantic States with retail competition (CT, ME, NH, CT, MD, DE) and upstate New York all have rates in the 7 to 9 cent/kwh range."

Many states have highly competitive markets, measured by the number of one-year offers for standard power. ConEd tops the list with 23 offers followed by ComEd with 21. Customers who have retail choice options in Texas can choose between a minimum of 20 different providers. In Maryland and Pennsylvania, 15 to 17 providers are seeking households to switch to their service.

The retail electricity price index will be updated monthly.

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http://www.fierceenergy.com/story/index-breaks-down-countrywide-competitive-rates/2013-05-15