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rwilcox t1_ixaixsv wrote

Reply to comment by coolducklingcool in Apologies for yet another thread on the new electricity rates coming our way, but for anyone who has yet to switch away from Eversource, I just did it and it took all of two minutes and will save my wife and I tons of money by mikemikemikeandike

If that’s all they’re doing then they are playing capitalism wrong and it’s likely an SEC violation. Or your’re the sucker at the table. LOL.

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mikemikemikeandike OP t1_ixaq1pm wrote

Is it entirely possible your skepticism is misguided? Many of us here have chosen to switch to Constellation already. There is nothing in the contract that looks remotely close to a scam.

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rwilcox t1_ixat68j wrote

It may be misguided. But there certainly is a scam.

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mikemikemikeandike OP t1_ixat9jg wrote

So show everyone here the proof. The onus is on you.

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CT518 t1_ixb2x37 wrote

Almost certainly they are making money by trading/selling Renewable Energy Certificates. But that doesn’t effect you the end customer.

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rwilcox t1_ixaxnx0 wrote

For Constellation their scam seems to be growth of consumer demand that leads to them cornering a bunch of energy output from nuke plans coming online between now and 2040 (when a bunch of their licenses expire). And perhaps pivoting that growth into alternative energy sources (hydrogen?) when those plans come online. So the grow and monopolize play/scam.

This, coupled with money from the government from the Inflation Reduction Act (good scam, having the government pay for your growth) is likely their short term play. Their market fundamentals seem a bit shakey (they're giving dividends, even though they are small ones, WTF)... and who knows what their customer support story is, etc etc

Of course there's the ever present raise rates after the contract renewal scam.

I would love to see their distributed energy play ala solar, better use of capital in general which is likely to bite them, and I personally believe the future is distributed vs centralized and that's likely to get them over the next 3-30 years. I dislike not knowing their short term plan: how are they going to drive growth in Q1 2023... but global gas/oil energy markets may make that very easy to be nuke heavy (sit back, relax while people come to you).

But it's also not a reduction of bills - I'll probably pay a little bit more than I'm currently paying, but it will avoid me paying more when Eversource hikes its rates EOY. So it won't leave me money left over in my budget, but it will avoid (a majority of) a bill increase.

That's just from 15 minutes of analysis. It sounds like maybe a reasonable play, or a stopgap this winter until I can dump them (thanks no cancellation fee CT??!) for my own solar install????

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