Private electricity supply contracts
Private electricity supply contracts can offer lower prices than National Grid’s winter Basic Service price, but they can also end up costing you more than if you had never signed up. We urge caution if you wish to explore this option.
If you are enrolled in a private electricity supply contract, you will not be eligible for automatic enrollment in Beverly Community Electricity when it launches. Only accounts on National Grid’s Basic Service at the time of program launch will be eligible for automatic enrollment.
If you choose to participate in a private electricity supply contract, ask three questions:
1. What is the term of my contract?
Some contracts will offer a low price but require a lengthy commitment. If electricity prices in the marketplace fall while you are still committed to your contract, you may be stuck paying a higher price than you want.
2. Is my price is fixed and for how long?
Many suppliers offer a low introductory price that varies after a few months or at the end of the contract. Variable prices can be extremely high, and many customers lose money this way.
3. Will I be charged an early termination fee if I try to leave the contract?
Some electricity supply offers require you to commit for a period of time or incur a hefty early termination fee.