Securing Energy Prices Today for 2024

What are Brokers saying regarding Securing my Energy Price?

The other night I was with a few friends who work in the energy field. We all remembered when prices for natural gas went through the roof in the early 2000’s and customers paid in excess of $10.00/MCF.  Today if you look at competitive pricing for natural gas, you will still see prices well below $10.00/MCF, but the fact remains, prices can go much higher.  Why bring up natural gas prices?  It’s because electricity is generated with natural gas and as natural gas prices go, so goes the price of electricity.

When Should I Lock in my Energy Price?

It’s time for you to lock in a price today and load it for a future start.  I say this especially to Industrial or Commercial customers who can go to the market today and receive custom pricing on a contract with a future start date. Future electric contract prices are set every day and if you look at the graph below, you can see that between 2024 and 2026 contract prices are settling lower than in 2023.  If you ask for a contract start date in 2024, you can avoid having 2023 pricing averaged into your next contract price.

Secure your Energy Prices for 2024

Source:  https://www.constellation.com/solutions/for-your-commercial-business/energy-market-update.html

Pricing in 2024 and beyond is lower than 2022-2023 pricing, so by signing today for a future price tomorrow, you could secure a price for a contract that is ready to start in 2024.  Locked and loaded.

How can Residential Customers secure a competitive energy price?

If you are a Residential customer, you may not be able to sign today for a future price, but you are not without options.  Accepting a price today for a 36-month contract starting next month could help you save money next year and beyond.  The way to hedge your bet would be to look for a contract with little or no early termination fees.  That way, you have an easy exit strategy with little to no cost if you decide the price is too high.

Where can I secure my Energy Price?

Our Sherpa by FirstEnergy Advisors™ online pricing tool offers Commercial and Industrial customers no obligation pricing for Pennsylvania businesses.  It’s easy, so start there and request pricing so you can see your options.  FirstEnergy Advisors™ also offers Residential pricing to Pennsylvania customers with low or no early termination fees.