Viridian Electric Cost Shockingly Higher.
To view current up to date rates for electrical suppliers in Connecticut go to Energize Connecticut’s websitewww.energizect.com/compare-energy-suppliers.
Over the weekend I met with a Viridian sales representative who was telling me the wonderful benefits of Viridian and how I can save money on my electric bill. But once I did my research and read the fine print Viridian’s Electric cost came out to be 50% more over the long run at today’s prices than Connecticut Light & Power’s cost.
Let’s say the average home uses 750 kWh/month at the Ct. CL&P Utility’s current standard rate of $0.07615 = $57.11/month
(Note this does not include delivery service charges)
Viridian’s six month fixed locked in rate is at $0.0749/kWh using 750 kWh = $56.18 with a savings of $0.93 per month
Thus a saving s of $5.58 over the six month lock in rate.
Now let’s read the fine print “Six months fixed price. Cancellation fee. Rolls over to variable rate without notice”
Viridian’s variable rate is currently stated at $0.1199/kWh.
Using the same amount of electricity of 750kWh per month at the rate of $0.1199/kWh the new bill will be $89.93 which is a$33.75 increase per month from the lock in rate wiping out the $5.58 saving that accrued over the past 6 months.
But on top of this it is $32.82 per month higher than the original utility supplier’s bill which results in you paying 57% more for electricity.
Viridian’s sales representative told me that the electricity I was buying was 20% renewable so switching was a good thing for the environment as well. But the state of Connecticut requires that all electric supplies, electric distribution companies and wholesale suppliers obtain a minimum percentage of their retail load by using renewable energy. For the year 2013 the minimal requirement is 17% of renewable energy and for 2014 it will be 18%.
Lesson learned; always check the facts and terms beforehand.
Viridian Energy is currently operating in 7 states:
- New Jersey
- New York