Not true.  Energy Deregulation in New York introduced competition, providing an opportunity for consumers to choose who supplies their energy - either their utilities (ConEd and National Grid) or a third-party supplier known as Energy Service Company (ESCO).
Your electricity consumption consists of two parts - delivery and supply.  You are not completely replacing your utility ConEd, as it will still deliver your electricity and bill you, but you can choose another energy company for your supply part.  The process consists of filling out their online application and it takes 1 to 2 billing cycles to process.  There are no appointments to make, there are no interruptions in service and there is still one bill from ConEd, which simply be modified to reflect your new supplier.
  1. Since energy companies are competing for your business, you may be offered an attractive low price.
  2. Some energy companies may reward you with upfront bonuses, such as a prepaid Visa card or reward points.
  3. Given the uncertainty of a ConEd's variable rate, you may be more interested in a budget-certain fixed rate, which is only offered by an alternative energy supplier.  ConEd does not offer fixed rate plans.
  4. Some energy service companies offer green energy, which is not offered by ConEd.
  1. Regrettably, just as in any industry, there are reports that some of the energy services companies are involved in deceptive practices.  Therefore, PowerSetter.com thoroughly goes through more than 200 energy services companies and their offerings in New York and Connecticut and selects the most credible and reputable ones.
  2. PowerSetter.com also enables residents to easily compare prices among different energy suppliers.
  3. Finally, we also stay abreast of current industry news and alert you of any potential energy rate hikes.
  1. You do not have to switch from your current utility.  If you decide not to switch, your utility will continue to provide you with electricity or natural gas.
  2. Residential customers have the right to rescind an agreement within three (3) days of receiving the agreement without a penalty.
  3. If an ESCO guarantees savings, it must be provided in writing on the agreement in the customer disclosure statement.
  4. Always review the written terms and conditions of the contract before signing. Important information, such as the length of the contract, renewal provision and fees are listed in the terms and conditions.
  5. ESCOs can charge an Early Termination Fee (ETF) for canceling a contract before the end of term date. Make sure to check your customer disclosure statement to find out if there is an ETF associated with your contract.
  6. The ESCO is required to give you a copy of the agreement including the terms and conditions and ESCO Consumer Bill of Rights.
  7. You will receive a verification letter from your Utility that you have chosen an ESCO to supply your energy. If the ESCO listed is not one you chose, or you did not intend to switch to an ESCO, contact your Utility immediately.
  8. When you receive your bill, make sure the ESCO you chose is correctly identified in the supply portion of your bill. If it is incorrect or you have any questions about your bill, you should contact the consumer information numbers listed on the bill(s).
  9. If you decide to cancel your agreement, call the ESCO immediately and obtain a cancelation number. It may take several weeks to be returned to the Utility depending on the date of enrollment. Check your agreement to see if an Early Termination Fee applies.
  10. If you are unable to reach your ESCO, you can ask your Utility to terminate your ESCO service.
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