Switching Rates Rise in Connecticut, New Jersey and Maine

The upward trend of shopping for alternative energy suppliers continued rising in several states this summer, pushing overall numbers higher and bringing competitively priced electricity to even more customers. The new switching numbers come from recently released state data and were highlighted in Restructuring Today.
 
Connecticut consumers continued to respond positively to Governor Jody Rell’s decision to keep the state’s electricity market competitive. Switching levels reached new highs across all market segments and utility service territories in August. Commercial and industrial (C&I) shopping pushed beyond the 50 percent mark for the first time in Connecticut Light & Power’s (CL&P) territory with 1,500 new accounts to reach 52 percent, and more than 17,000 new residential choice accounts brought shopping levels to 29 percent.
 
Not to be outdone, C&I customers in the United Illuminating (UI) territory also crossed the 50 percent shopping level with nearly 400 new customers. The residential sector also increased by 5,900 accounts to nearly 37 percent. The UI percentages are even more impressive considering C&I shopping was at 41 percent and residential shopping was at 20 percent when the year began.
 
The recent market entry by new power suppliers in New Jersey’s market continued to increase switching numbers in that state across all market segments for May. Shopped load for C&I customers increased 2.6 percent, and shopping among fixed-rate class customers grew in all four incumbent utility territories. The residential market continued its incremental growth, with 3,300 new accounts – impressive considering only 213 customers switched to alternative suppliers in all of 2009.
 
Maine also reported positive results, as overall shopped load grew to 41.2 percent. Retail power shopping increased in two of three territories to a statewide total of 2.6 percent, and C&I shopping increased in both the statewide large and medium categories to 35.5 percent.
 
Positive results keep rolling in across the nation. Increased switching rates are proof positive that our nation’s well-structured competitive electricity markets are creating economic benefits for energy market participants by empowering customers to find the best deal.

Joel Malina | October 1, 2010