Connecticut Electricity Rates
As of September 2015, Connecticut has the fourth highest average electricity price for residents. In addition, residents make up 1/3 of the total energy consumption. For the Connecticut business electricity customers that also make up close to 1/3 of consumption, Connecticut electricity prices rank high, coming in 38% higher than the national average.
With such high prices for electricity and little control over how much the utilities charge, Connecticut electric customers needed a way to have the ability to save on some aspect of their electric bill. This is where electricity deregulation comes into play.
Connecticut Electricity Deregulation
Connecticut began restructuring its electric market in the mid-90s, with electric choice becoming available for commercial and industrial businesses in 1998 and residents and small businesses in 2000. Since then, numerous retail electricity providers have entered the market, offering lower electric rates than default utilities.
Public Utilities in Connecticut
If you live in Connecticut, there are two major utilities that serve the entire state:
Customers that don’t participate in electric choice will still receive their electric supply from their default utility. But since the utility is not able to profit off the sale of electricity, they have practically no reason to compete with retail electricity providers that offer lower rates.
Retail Electricity Providers in Connecticut
Currently, Connecticut customers can choose from a wide range of electricity providers. These providers compete which allows you to save on your electric supply. Go to our Connecticut electricity providers page to see a full list of electricity providers in Connecticut.
How To Switch
To compare all of these Connecticut electricity providers, we’ve created a FREE Compare & Switch Tool that allows you to compare electricity rates and switch your electricity providers in under a minute. Simply go to the right side of the page, type in your zip code, and view a list of the best rates and plans from reliable providers in your area.
When browsing rates and plans, consider the following:
- What is best rate for you?
- Electric rates are expressed as “cents per kWh”. When comparing rates be sure to compare them to the utility’s price-to-compare and what you are currently paying.
- Is the rate variable or fixed?
- Variable rates can fluctuate daily or monthly, and are derived from the market price of electricity. Fixed rates allow customers to lock in a low rate for the contract duration. Fixed rates are recommended for typical electric customers.
- What is the length of the contract?
- Contract terms can vary from variable rate monthly terms to 3- to 36-month fixed rate terms. The recommended contract length for the average electric customer is 12- to 36-months.
All you will need is your account information found on your most recent electric bill. There’s no need to contact UI or CL&P – the new provider will process everything for you.
Remember, your utility will continue to fix power outages, send your bill, and work with you for any customer service needs. The reliability of service will NOT change since it is the responsibility of either UI or CL&P, which are regulated by Connecticut’s Public Utilities Regulatory Authority (PURA).