NoBarracuda2508 OP t1_j13ydbx wrote on December 21, 2022 at 2:28 PM

Main takeaway is that prices will go down from where they are now, so keep shopping in the spring and summer, even if you think you got a good deal. And even if you signed a three year contract, you can cancel without penalties. So if you find a better deal later on, just cancel your current contract and switch to that.

WonderChopstix t1_j13yyyh wrote on December 21, 2022 at 2:33 PM

I never tracked it that closely. Have rates ever gone down? I only recall it ever going in 1 direction. Why would rates go down in summer when demand is higher for AC? Just curious

TywinShitsGold t1_j1440b4 wrote on December 21, 2022 at 3:08 PM

Less demand for heat.

WonderChopstix t1_j145o1n wrote on December 21, 2022 at 3:20 PM

Interesting. I'd think most heat is oil or gas and altho it takes some electricity not nearly as much as AC.

TywinShitsGold t1_j14a8u8 wrote on December 21, 2022 at 3:50 PM

It’s a commodity that spikes with global demand. Much of the North East uses oil for heat, but that’s fairly unique. Electric rates are tied to NG commodity pricing because more than a quarter of the US’s power generation is has based.

NG is 34% of Europe’s power generation as well. And New England is fairly tied into the European NG market due to reduced pipeline capacity and the Jones act.

NG essentially always spikes through winter and comes back down in spring. It’s just not usually this severe.

Globally not as many markets are as air conditioned as the US, so even if AC is more demanding, the demand isn’t equal across the northern hemisphere.

WonderChopstix t1_j14b8qe wrote on December 21, 2022 at 3:56 PM

Makes sense! Thanks for the explanation. I am kind if kicking myself for not thinking this through but that is what lack of sleep will do !