I’ve since been told it will be 10% off whatever the rate BG&E charges, in this case only a 15% hike. So… the contents of the article below appear to be wrong.
Much thanks to risk for looking into this. For everyone who signed up with WGES, before the recent developments, in order to get 10% off what they thought would be a 72% rate hike by BG&E – you want to cancel and go back to having BG&E being your provider. BG&E’s rates will only increase 15% by July 1st and won’t reach full market rates until January 2008… the 10% off that you get is 10% off market rates, or 72% of what they are now (on average).
I erroneously thought you’d get 10% off whatever BG&E charged (since their site states “10% OFF New BGE Summer Generation Rates”) but you are will be charged full market rates.
risk called up WGES, what I should’ve done but was simply too eager to accept my own common sense interpretation (otherwise known as being lazy), and a representative confirmed that you’d be getting 10% off the market rates. I’m going to break my contract asap.
jim, I just called WGE, the CSR told me the 10% off is off from the market price (aka 72% hike price)… She also told me that given the new solution, WGE could let the customer switch back to BGE, aka break the one-year contract, without penalty. I probably will check with WGE late 2008 🙂