Cheap natural gas prices have led to a boom in the construction of gas generating power plants. That combined with market deregulation in New England have set the stage for some tumultuous times in the New England electricity market for years to come.
Many Granite State electric customers are scratching their heads after an electricity supplier, Power New England, was abruptly kicked out of the market two weeks ago. Customers of Power New England and its sister company, Resident Power, have had to try to sort out what's going on from media reports where utilities and power suppliers are slinging accusations back forth indiscriminately.
So here’s a breakdown of what has happened to date.
The Public Utilities Commission is asking an electricity supplier that was suspended from selling power in the New England grid to explain why it shouldn’t be subject to penalties in New Hampshire.
The PUC wants Power New England and Resident Power to account for a number of possible violations.
Resident Power is an aggregator that gathers up electricity customers and delivers them to a supplier. Power New England actually supplies electricity. Gus Fromuth is part owner of Power New England, and his son Bart is Managing Director of Resident Power.
For customers of the state’s largest electric utility, Public Service of New Hampshire, electric rates are going up this week. Resident Power, the new utility in town, is using that fact to beat the drums and let New Hampshire residents know they can save money on their electric bills.