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Minimum Usage Fees: Often set at or around 1,000 kWh/month, these fees mean you’ll always pay for at least that amount — even if you only use, say, 800 kWh of electricity some months. It sounds nasty, but it’s only something to be concerned about if your electricity bills historically show you hover right around that minimum use threshold. If you’re electricity use always exceeds that amount, it’s like it’s not even there.
Variable Rate Plans: Designed as month-to-month contracts, these plans are in total control of your energy provider, which can shift the price you pay per kWh at its discretion. This means you, the consumer, are in a better place to reap the benefits when the energy market falls — but it also means you're at risk for hikes in prices, whether as a result of natural disasters or the provider's bottom line. Variable plans always offer a full year of price history to show the average price per kWh so you can get a sense of what you're getting into (like this one from Switch Energy) and know this: Variable plans don't have cancellation fees. You can cut your service at any time — a huge incentive for Compare Energy Companies to keep their prices reasonable.
Which ones the best? Like all things energy, it depends. Do you prefer predictability, or do you like the idea of potentially saving some cash by monitoring the market? Our (albeit conservative) recommendation: Fixed rate is probably best. Energy prices are on the rise — the U.S. Energy Information Administration predicts a 3 percent increase in residential electricity prices in 2018.
When you choose Cheap Electricity, you can also take advantage of bonus programs, like Compare Electricity Plans and Cheap Electricity Perks. And with over 15 years of experience, bilingual service options, and 4-star ratings for both pricing and customer service from JD Power and Associates,5 you can rest easy, knowing you’re getting the best possible service at the best possible price.
Compare Electricity Prices loves the Internet, especially when it comes to social media. We look at social networks as exciting ways to interact with our customers, share information, and address any concerns you might have. On our social media outlets, you'll find energy efficiency tips, seasonal recipes, energy saving suggestions, green living recommendations, and a host of other fun stuff.
Depending on your answers to these questions, you may want to consider switching electric companies. Here at Cheap Electricity, we feature competitive fixed rates with flexible contract lengths, and we offer no-deposit electricity.‡ Even if you’re looking for an electric company in Skidmore, Mont Belvieu, or another town near Corpus Christi, we can get your power turned on today.1