In 1999, the Virginia General Assembly enacted into law, the Virginia Electric Utility Restructuring Act. This new law is restructuring the electric utility industry and will allow consumers the opportunity to shop for their suppliers of electricity. Consumers will be able to choose, from different suppliers, who they want to provide electricity to their home. The transmission and distribution of electricity will continue to be provided by your current supplier. Only the generation of power will be open to competition. The idea is that free market competition will produce lower prices and better service. It is important to realize, though, that true choice will only occur if there really is a competitive marketplace.
Beginning in 2004, all consumers in Virginia will have the opportunity to participate in choosing your utility provider. In order to make the most educated choice and to better understand the process involved – the Virginia State Corporation Commission has developed an educational program, designed for consumers, called Virginia Energy Choice. You are not required to choose a new supplier and if you want to remain with your current distribution company then you don’t have to do anything. If you want to make a switch then Virginia Energy Choice can help you:
- Shop for a new energy supplier
- Compare and understand prices that are being offered
- Obtain information about potential suppliers.
- Learn how to read and understand the new itemized bill that every consumer will be receiving no matter who your supplier is.
- Learn what your rights and responsibilities are under the new law.
- Obtain information about aggregation and how you may be able to obtain lower prices by being a member of a buying group.
- Learn how to identify and understand the different offers, services, contract terms, and the sources of energy that may be presented by different suppliers.
Take advantage of this free educational program and become a smart energy shopper. For more detailed information call 1-877-YES-2004 or go to their website at www.yesvachoice.com .
AECP HOLDS ANNUAL MEETING ON JUNE 19
AECP will be conducting its annual membership meeting on Thursday, June 19, 2003 at 1:00 p.m. at the Ramada Inn in Virginia Beach. The meeting will be preceded by a lunch hosted by Conservation Strategies. We will conduct normal business at the meeting but we will also have two presentations by David Lundt, with the Virginia Department of Labor and Industry, on Asbestos and Hazardous Communications. All AECP members are welcome to attend.
LOW PRODUCTION KEEPS NATURAL GAS PRICES HIGH
Natural gas prices, which were 30% higher this winter than the previous winter, have remained high due to sluggish production. Current prices are twice as high, at this time of year, than last year. The Energy Information Administration predicts that prices will remain high and even increase over the next 3-4 years. This means that electricity customers will experience rate increases because more than 90% of power plants built since the mid 1990’s run on natural gas. (Virginia’s electricity rates are capped until 2007 due to restructuring.) Tight supplies leave the natural gas market vulnerable to huge price spikes and sudden increased demand due to severe weather conditions.
WIND POWER EXPECTED TO GROW BY 25% IN COMING YEAR
The American Wind Energy Association recently reported that the U.S. wind energy industry would increase capacity by 25% – from 4,700 Megawatts to 6,000 Megawatts. This means that 1.5 million homes will be served nationwide. This growth of clean, renewable energy power is a bright spot in an otherwise bleak and troubled energy sector.
ENERGY TIP
Air conditioners in cars manufactured before 1994 use a refrigerant called CFC-12, which is a chlorofluorocarbon that damages the ozone layer. CFC-12 has been banned worldwide. The law does not require this refrigerant to be replaced but if your air conditioner needs repairs or maintenance – then discuss the opportunity to replace this refrigerant with your mechanic.