I'm not re-selling you energy I've been with TXU for a long time. I've been meaning to look at the rates and shop around but never spent time and probably lost money as a result. Yesterday, I got a (semi-awkward) phone call from a friend who I hadn't spoken to in years who was asking me to switch to them. I told them I'd look into it. Anyway, today I looked and I'm paying an average of 15.95 cents per kWh at TXU on my last bill. The quote this person gave me on one-year locked rate is 11.40 cents per kWh. Sounds like a winner but I'm clueless on the whole thing... are there catches? That rate good for a one-year contract?
i was with TXU for a couple of years and i was paying a similiar rate to yours...16 kWh. went to powertochoose.com, just went with the cheapest rate at the time which was GEXA. now i'm saving 25% compared to TXU. that's sometimes $50/month when electricity bills are $200.
There's not usually any catches but of course read the fine print. Some companies will charge you an extra fee monthly ($5, $10, etc.) on top of the base rate that is effectively increasing your rate. Otherwise, when you are ready to choose, just go to www.powertochoose.org/ Looks like some company called Champion Energy Services is offering 12 month, fixed rate, with 2% renewable content, at $0.106, which is a little cheaper than you got offered.
Isn't Ambit Energy one of those, maybe pyramid scheme is the wrong term, but it's some kind of fishy multi-level marketing scheme. Obviously your friend didn't call you for the first time in a long time because he missed you, he needs saps to ensnare into this thing. If your friend used the phrase "energy gold rush" on you, say thanks but no thanks.
Ambit Energy Scam http://www.electricitybid.com/electricity/index.php/2007/12/04/ambit-energy-scam/ i got curious and this was one of the first google hits, i haven't read through it all, but it doesn't sound good.
I stupidly moved up to Nacogdoches, and had to choose a provider. I had lived in College Station prior, and they had a city utilities program (paid College Station utilities), and so I expected the same. I wasn't ready to choose. I had no internet to do some research. I called Reliant and ended up getting locked in one for a year @ 18.2 cents /kWh. Sucks, but oh well. Cheapest I found was around 13 cents I think. I'll be changing when I move and am out of the contract...... I guess the only good thing is my power is 100% Texas Wind Power....so I'm being green this year I guess.....so when I go something like coal next year i did my part.
Please read the terms carefully before signing. How long is the contract? Typical terms are 1 month(variable), 1 year fixed, 2 yr fixed. Variable terms can be costly, you allow them to change the rate after your first bill. Variable contracts can be very bad if their main energy source is natural gas. Natural gas prices have extreme fluctuations in short time periods. Cancellation fees: What if you cancel your contract and move in with somebody else? Convenience: Check their website for customers. Do they have online bill pay? Do they charge a fee for paying online? Smaller companies do not have online bill pay. Energy source: Do you want to pay extra for green energy(wind mills and solar)?
Oh, one of those guys. I get those guys coming to me all the time, from Ambit, Ignite, and etc. I switched my business energy bill to MXenergy. I was paying .147 and now down to .069.
Wow, I just checked the site...there are more than 20 providers including Ambit Energy. Reliant is at 8.9 cents instead of 18.2 cents. Maybe I'm missing something here.
The Ambit scam probably is not an issue for customers. I don't know if I'd call it a scam. It's common for REPs to pay a commission for customers. We only do it for commercial customers, but I could see a company paying for residential if that's all the company served. But, commissions are pretty small, so you'd have to sign up a lot of resi customers. In any case, go with Ambit if you want to help your friend with his endeavor. Otherwise, powertochoose is the way to go.
I have Ambit .. . and My Bill has been reasonable since I went to the yearly Locked in plan [I think I am at .119 now . . just reupped] I ain't trying to sell anything but the Price on the electricity seems to work for me I have not had any problems Rocket River had them for about a year
The rates are typically low, because they are introductory rates. Once the contract term expires, they are allowed to change the rates. I just switch to a new provider at that point. I switched to Gexa from Reliant, years ago. After a year, my bill got really high. It turns out they raised the rate by 3-4 cents after the contract expired. I switched providers at that point. The only problem are fees for switching to a new provider.
I can't remember...this was last summer, I haven't checked power to choose since. I should though. I think it was TXU or some other company I had never heard of. The one big beef I had with Reliant is I had to pay a $300 deposit fee, is that normal? (Guess I don't have enough credit yet). As for Reliant's rate, I am locked in at a fixed rate which is 18.2 cents. Sucks, I got played but you have to lose to learn I guess. I know much better now, so when this contract is up I'm out. (18.2 when I signed up last summer)
Now is an exceptional time to lock in a year long contract, or even longer. The reason why: natural gas prices are as low as they have been in a very long time (years), and power prices in Texas are set by natural gas prices.
Could you elaborate? I switched from Reliant to TXU last year. I think the contract ran out, which would explain the random price increase. There wouldn't be any cancellation fee because I'm not in a contract.
