I just received my electric bill for the month of April. It contained information about deregulation to take effect in Pennsylvania January 2011. Right now my utility says they expect rates to increase at least 20% but the increase will depend on the market conditions. I dont understand this because the last time we had a large phased in increase it was associated with the construction of 2 nuclear power plants which were supposed to shield consumers from changing market conditions.
The company is offering a phase in plan which has you start paying an additional 0.0053 per KWh of energy use starting in July of this year. In 2010 the additional charge increases to an additional .0107. The company will give you 6% interest on the additional amount and then use it as a monthly credit starting in January 2011. An example is given of a customer using 1,000 Kwhs per month. In 2009 the early phase in charge is $5.30 per month. In 2010 the early charge is $10.70 per month. In 2011 the monthly credit is $9.70. In 2012 the monthly credit is $4.86.
I looked over my bills from last year to this month and the highest bill was for 1693Kwh at a cost of $278.00. 20% more for the same Kwh not so good, so I am thinking about joining this program since it seems to be better than the last time we had rates phased in but the devil is in the details which I dont have yet. I was previously thinking of a dual fuel system gas and heat pump because my gas rates are high, but now I am not sure it will save any money and using the heat pump might even cost more. Myabe get one with a high efficiency rating? Any savings from using a heat pump in this scenario?