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Electricity aggregator Resident Power offers New Hampshire easy savings

Many New Hampshire residents have been frustrated in recent months by rising electricity prices from the state's utility companies. However, SeacoastOnline.com points out that many people in the state are still unaware that they have the option to compare electricity rates.

The news source points to the savings some customers have seen with one of the new players in the state's electricity market, Manchester-based Resident Power.

Unlike many of the companies to spring up after electricity deregulation, Resident is an electricity aggregator, which collects customers who are interested in switching away from the utility company and searches for a bulk deal from the state's electricity providers.

Ryan Lerch of Portsmouth explained that after a five minute call and one month wait, he saw a 10 percent drop in his electricity bills.

"Our phones have been out of control for the past couple of weeks in anticipation of this," Bart Fromuth, managing director of Resident Power, told the news source. "At a time when PSNH continues to increase their electricity prices, customers need to know they have a choice. Contrary to popular belief, PSNH’s electricity rates are optional, meaning that customers don’t have to buy from them."

The U.S. Energy Information Administration reports that New Hampshire paid the fourth-highest electricity rates in the country in 2010, and recent efforts to reduce carbon emissions have only pushed those prices higher.