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On my ConEd bill there is always a line at the bottom that reads "Go to a new supplier to reduce charges…" I looked into this and apparently in NYC we are able to purchase our energy through parties other than ConEd—some of them I assume offer energy from renewable sources. ConEd still charges a delivery fee, so you get two bills—one from ConEd and one from the energy supplier. I did a little research, and there isn't much info out there explaining how this affects the bottom line of your bill (other than some horror stories of double charging). Has anyone done this? Does it actually save any money?
Con Edison participates in a program called PowerYOURWay, which means you can choose the energy supplier that you want, while still having Con Edison deliver the energy. Some Energy Service Companies (ESCOs) even offer incentives such as saving up to 7% on your energy bill for two months. Any problems with your electricity and/or gas will still be handled by Con Edison. You are not charged to switch suppliers, but may be charged $10 in some instances to switch back.
Check here for a list of frequently asked questions. PowerYOURWay has a list ESCOs available to choose from. And Gotham Gazette looked at PYW back in 2001 and recommended that everyone should take another look at their energy bills.
We do not know of anyone who has done this before, so we're opening it up to you all... what are your experiences?
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We actually discussed this at my most recent coop board meeting. Some people had taken advantage of it but said that it turned out to more expensive and wasn't worth the hassle so they switched back.
Someone using Power Your Way also tries to take advantage of people at times by knocking on doors or calling and implying they're from ConEd to get information about your account. They'll then switch you without your permission. I'm sure that it's not all corrupt but this experience with someone at our door made me really question the whole thing.
I decided to save a few bucks, so I signed up for one of the alternate energy suppliers. I don't know if it has saved me money, but it HAS turned my Con Ed bills into a cryptic mess. Two months after I signed up for the other supplier--can't remember the name--I got FOUR bills from Con Ed, each one contradicting the other, even though some of them had the same date. Even after an hour on the phone rep I couldn't decipher the pages of charges, so I finally just paid up.
Oh yeah, and I live in Queens, so the blackout didn't exactly make my electric bills any easier to understand, either. One bill said I got a credit, another didn't...who knows?
Rather than switch around to find the cheapest price, check out another less-known possibility:
ConEdison Solutions (can't paste urls in here, so google it!)
ConEdison Solutions is a program where you can specify that ConEd buys your electricity from a window (or hydro) generation facility. It costs a few cents per kwh more, but you can lock in for a year at the current rate. Unlike coal/oil/gas which fluctuates every month.
Oh, and there's only one bill.
I did this, signed up with ConEd Solutions. I ended up with bills more than twice as high. The cost of the electricity (some of it wind-generated, no less) was not significantly higher, but I was paying $100 or more per month in "delivery charges" to the purveyor of the power. Did not work out well.
IT'S A GOOD THING!
I unfortunately have electric heat in my apartment
resulting in huge bills in the winter.
I switched over to an ESCO (MX Energy) about a year ago and my bills certainly dropped.
It is difficult to know just how much since con ed doesn't tell you their current charges on the bill.
Reading the bill is easy enough except it is split into two pages one for supply (MX) and one for delivery(CON ED).
You also save a couple of bucks on taxes.
Im paying .128250 per KWH. How much is a KWH from CON ED this month?
On a related note, can anyone tell me how long it typically takes to get your first ConEd bill in a new place? I just moved into a new apartment - and the last time I moved into a new place was so long ago that I don't recall how long it took to get the first bill - but it's been nearly 6 weeks and I haven't gotten a ConEd bill yet(but the lights are on!)
Surprised no-one has mentioned the infamous IDT Energy yet. They of the misleading sales pictures, background in phone cards, and high energy bills.
I'm never sure how a) the individual electricity buyer is supposed to have a better strategy for dealing with the prices of fuels than the guys buying electricity for 3.4 million people b) how on earth dealing with the additional layers of bureaucracy and management of an outsourced supplier is supposed to make for lower overheads. But then I just deal with these guys for a living
I signed up for ConEd Solutions' WindPower about 6 months ago. I am definitely paying more for power, but I understood that when I signed up. I'm ok with this because my energy usage is offset 100% by Wind Power.
As Mitch and others explained, when you sign up with an ESCO your bill is split into energy supply and energy delivery charges.
When I signed up, I agreed to a fixed one-year price for wind power supply at 19 cents / KWh. I was told I can switch back to regular ConEd at any time without any penalty. In addition to the 19 cents / KWh in energy supply, I pay the standard energy delivery charges (this is something you paywhether you use an ESCO or not. You can figure it out on your current bill by subtracting your total power costs from the energy supply costs and dividing by your KWhs), which vary from month to month (usually 5-15 cents per KWh).
Being a nerd, I backtested the 19 cents price against 12 months of old ConEd bills from August 2005 through August 2006. I had previously entered all of my ConEd bills into a spreadsheet, breaking out all the cost categories and the delivery and supply charges.
The premium for wind ranged from 10% in the summer, to 40% in the winter (in the summer, energy rates move upwards, in the winter they decline). Because you're paying a smaller premium in the summer when you consume more kilowatts, your total dollar premium over 1 year is much lower than 40%.
I only use about 200 KWh per month, so the total dollar amount difference is pretty negligible. My total energy bill is rarely over $50 using ConEd solutions Wind when the AC isn't running.
You also are supposed to receive a $25 rebate after 3 months of service, although I have yet to see it and haven't gotten around to calling ConEd to inquire about it.
Overall, I'm happy with the way the service works, and I can tolerate the higher prices for the cause. I haven't had any billing problems, and I'm glad to be offsetting my energy use. One additional stupid downside is that after you sign up for ConEd Solutions, you can't use e-billing any more.
Ironic that the green power solutions require a paper bill, isn't it?
I also vouch for ConEd Solutions. I pay more, but I knew it going in, and for the amount of energy that I use, I don't find it to be anything major. And I feel better that my energy is coming from green sources.
I pay via e-bill. And I did get my rebate!
So, the rebate should be coming, Nathan. I think mine came late, and I had forgotten that it was due to me when I got it in the mail.
Nathan, thanks for the detailed information. Also, I forgot to mention that ConEd addresses this on their site: "Some energy suppliers (ESCOs) have been using misleading tactics, such as saying that they represent Con Edison, or that customers must switch to a new supplier within 30 days. While we encourage our customers to shop around and explore alternative suppliers through PowerYourWay, Con Edison does not send salespeople to your door or have them call your home or business. There is no deadline, nor are customers required to choose a new supplier. Switching to a different supplier is your choice - so shop wisely and make the energy choice that makes sense for you."
Emily, Thanks for the heads-up about the rebate. I'll wait a little longer and then give someone a ring. Overall I'm quite happy with the service. I think we both went into it with the expectation that we'd pay more, but that our energy usage is low enough that the incremental cost would be small (even if the percentage increase is significant, like in the winter when supply costs drop to 6 cents / KWh for regular ConEd).
I should clarify my e-bill setup. I use Bank of America, and previously had e-bills being delivered to my BoA account's web interface. I can still pay electronically using BoA's setup, but I no longer receive electronic bills. BoA says that I'm already set up for e-bills with ConEd, and ConEd says I can't receive e-bills because I use ConEd Solutions. Strange. I'll have to call them back and see if they can figure out how to activate the e-bills.
Emily, do you use ConEd's e-bill service, or an e-bill service through your bank?
I also use ConEd Solution's green solution. Save a little bit plus makes me feel good that my energy is coming from a renewable energy source.
I wrote a post about this a while back on Fatwallet: www.[snip]fatwallet [snip].com/forums/ arcmessageview.php?catid=52&threadid=512918
IDT does door to door pitches, which feel a lot like phone slamming. They ask you to sign a contract, but say it isn't binding. Switching back was easy ONCE I got to them. It took a good hour of phone call center hell (including some 411 research and calling the corp HQ).
I signed because the initial quotes sounded reasonable, but they won't provide 12 months of data (The sales guy promised more info than the phone reps were able to provide0). Their pitch is a guaranteed percentage savings (exclusive of tax -- I think it was 10%) for short period of time, then a market rate float. They don't provide any cost data on their site and won't quote historical rates over the phone. Since you still pay delivery, it's works out to less than 5% savings on your bill. Beyond that, you can't really determine if long-term savings are possible without simply riding it out. And I haven't found any data about year over year comparisons, so I stayed with the devil I know.
Unless you get the power for free, Or at a reduced rate . Your going to have to pay for it so it doesn't matter !
I've been using the ConEd Solutions green package for six months or so. I signed up online and the process was easy. My bills are more or less what they've always been. Might be $5 or $10 more per month but they seem to always bounce around a little anyway, so I've barely noticed. I got a $25 rebate in the mail and I feel good about supporting renewable energy.
Other than ConEd Solutions, be very, very careful with this program. There are legal actions proceeding against a number of these energy supply companies (ESCOs). Google them with the word "fraud" before you sign up...
i currently work for an ESCO, we have the MOST costumers from ConEd than any other ESCO, least complaints and cancelation percantage.. note there is no cancelation fee. When you switch you will be charged a delivery charge, but companies like ours wouldnt exist if there where no savings; mabey not immediate savings but in 2-3 months depending on your consumption they could be substantial. I will do commercial bills for certain reasons
If u own an E.L. 2 or E.L.9 non-commercial bill
and have any questions please do call
Duvan Gutierrez
(347)262-1500