How to always get lowest cost electricity?

Question

We looked online on

http://www.powertochoose.org/

we see that cheapest plan are mostly for 3 months.

Whats best strategy?

Is it best to look at above website every 3 months ans sign up for new 3 months plan to always get lowest cost electricity?

Any other strategies?

Is summer, cost may go higher?

Million thanks!

Mike Burkett · Answer

@Jaz Patel @Kyle Strouse  I agree with Kyle.  Read those PDF attachments.  Most of the quoted cents/kwh are basically bait and switch.  You will need to know your average monthly usage for the past 12 months.  If you want the best electricity program you basically need to build a spreadsheet using your actual usage.  It won't require a super computer, but it will require some work analyze these offers.

Power to Choose was set up to make it simpler for consumers.  The electric companies figured out how to make it complicated again.  Good luck.

Kyle Strouse · Answer

When you go to that site don’t just look at the price per kWh, you need to look at the “Energy Facts Label” or the “Facts Sheet.” A lot of times the really cheap rates are only that cheap if you use a small amount of electricity, once you go over 1,000 kWh the rate goes up....or if you don’t use a certain amount of energy per month you pay a more expensive rate (the cheap price quoted is the price you get if you use over 1,000 kWh per month, use less and you pay a higher rate).

The amount of info can be overwhelming. I usually just call in and they’ll recommend which plan is best for me depending on my historical usage. I always filter the search results to only show 1year contracts or longer. The 3 month plans may be cheaper now, but come summer they will likely be more expensive/there may not be any 3 month plans offered in summmer so you could potentially have to be locked in to a more expensive 1 year contract (more expensive compared to the 1 year rates right now).

Brit F. · Answer

Been using powertochoose for several years.  I switch every time my contract is up, which is usually 6 mo, but sometimes I dabble in the 3 mo's.  I rarely do 12 mo's because most REP's offer will only be advantageous in one or two seasons and painful in the others.  Absolutely read the EFL's and see how it compares to your prior usage, which you can see by using the smartmetertexas site if the property has a smart meter.  The best times to switch REPs are spring and fall.  Avoid changing REP's in mid-summer and mid-winter.  Put a reminder in your favorite calendar application to remind you to start looking at rates 2 weeks before your current contract ends, which is around the time when you can switch without an early termination penalty - but check your REP docs to be sure.

Best price I ever had was 1 cent per kwh, but that probably won't happen again for a while, if ever.

Side note: Only once did an REP not honor it's EFL, and after they declined to adjust what they were charging me, I filed a complaint with the PUC of Texas.  They investigated and ruled in my favor.  I eventually got a refund for the overcharges.  That REP isn't in business anymore.

Jason Hall · Answer

I've used Power to Choose to select providers for the past several years. You really have to have a handle on your seasonal average kwh consumption to get the best deal. And you have to examine the spread between the different rates at different consumption tiers.

For example, my usage drops substantially in winter, but rises precipitously in spring and summer. So I selected rates that had higher prices at low consumption tiers to get lower rates at higher consumption tiers. I did this because I knew my contract would cover a period where my consumption increased. My most recent contract is for 8.6c Kwh for 12 months (I finally got tired of switching providers), but in the past few years I've had rates as low as 1.6 to 7.3. for 3 - 6 month intervals.

Also, many providers jack up rates when you're no longer a new customer. If you look closely at the rates, many of the best ones say "new customers." If you select a provider and they try to do that come renewal time, ask for a manager and request that they honor the rate on the website and sometimes they will do it.

Amir Giryes · Answer

@Jaz Patel I believe you can enroll for electronic payments.

Jaz Patel · Answer

issue is even if we sign up with energyogre.com, then we still need to sign up with provider and payments and all other work, its not like you getting out of it 100%..they just find u deal

Amir Giryes · Answer

https://www.energyogre.com/

I heard a lot of great things about them -

I have no affiliation with them

Jennifer Ryan · Answer

http://www.powertochoose.org/  is a great resource.

Hi Jaz.

Even if you’re amazing at scheduled reminders, staying on top of 3 month intervals & doing the sit downs (research) is time consuming and you’ll likely let your energy plans lapse. I know from experience that once you’ve passed the contract period and go month to month, your rates will go up. Mine tripled w/ one company. In the long run it’ll cost you a more than if you locked in a bit higher rate but for a longer period of time.

I agree with Kyle. Call the concierge. They are wonderful at their job and they don’t get paid any kickback for recommending one plan over another. Have your utilities bills in hand so they can go over your energy usage. Then lock in a rate for at least a year; more if there’s a killer deal.

​How to always get lowest cost electricity?

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How to always get lowest cost electricity?