TO: Chestnut Hill Business Association Members
SUBJECT: C.H.E.A.P. (Chestnut Hill’s Electric Alternative Program
An Energy Savings Plan from the CHBA
PECO is being deregulated and, because of this, our electric rates are going up January 1, 2011.
As a result of this deregulation, consumers now have the opportunity to choose energy suppliers with better rates and deals. The CHBA has been negotiating group rates for our members and has selected Glacial Energy as having the best offer for our association.
C.H.E.A.P. (Chestnut Hill Electrical Alternative Program) FAQs
1.) Is it a fixed or Variable rate?
2.) What is the contract Term Length?
3.) Is there a Usage or Load requirement? Essentially, some companies require that you use a minimum amount of energy or penalty charges will be incurred.
4.) Are there any Penalties for using more energy than assessed?
5.) Is there a ‘Force Majeur” clause in the contract that allows the provider to charge a higher rate at their discretion?
6.) What is the price per Kilowatt? And is it an all-in price, meaning does the price include everything but tax?
Many companies will quote a price per kilowatt but that price does not include extra fees that vary based on usage and company discretion. Glacial Energy has a market based product similar in structure to what you have now with PECO. The difference is- Glacial Energy is much cheaper because they have less overhead. Using your most recent PECO bill, Glacial Energy can tell you the pricing range you would be in. Glacial Energy is cheaper than fixed pricing because they don’t have any add-ins in their rates as other companies do… such as no usage risk add-ins; no interest built into the rate; no commission fees/ or broker fees. Knowing how many kilowatts a business uses in a year Glacial Energy can tell you the savings you’ll get with their company.
Glacial Energy Payment Breakdown
- Customers going to Glacial Energy will be using EFT (Electronic Fund Transfer) Automatic Payment
- Customers will receive an email and/or fax bill from Glacial Energy around the same time the PECO bill comes
- The Glacial Energy bill will have the breakdown of the client’s usage and cost
- Benefits of an EFT
- High level of security
- Intermediate processing (No three day wait period as would be experienced with a check)
- Full control for the clients
During those 9-10 days the client has the option to contact Glacial Energy or their bank to put a hold on the transfer or to discuss payments or costs with Glacial Energy.
- No checks need to be written
- No late payments because EFT’s are automatically processed each month
- Customers will be receiving PECO bills in addition to their Glacial Energy bill
- PECO bills will consit of:
Energy Efficiency Charge
- PECO bills will consit of:
- Glacial Energy bills will consist of:
Transmission Charges(Generation and Transmission currently make up the bulk of any PECO bill so that’s where Glacial Energy’s savings can be seen.)
The Advantages to Joining CHEAP and becoming a Glacial Energy customer
- Our businesses will receive the lowest rate of all suppliers interviewed.
- Your contract will be a monthly variable rate which can be cancelled at any time without penalty
- PECO will still do the billing, maintain the wires and lines, and provide emergency service. Participants of CHEAP simply pay less.
- Glacial Energy will make a rebate to the CHBA based on our combined monthly kilowatt usage…indefinitely.
- Our Glacial Energy rebate will increase our Chestnut Hill Marketing Program.
- Sign up is easy!
To Sign Up…just call our office at 215-247-6696