Too many price to beat rate plan offers from differnet power providers here in Houston are in my mailbox. I'm currently with Reliant and they're tbe most expenive as compared to the rest. Gexa, First Choice, TXU, Spark.. etc.. Now I'm confused whether these low rate plans are reliable. My officemates say that reliant is the most reliable since they own most of the generators. And the reason why their price are higher is that they offer firm delivery of power. Any thoughts on this? Thanks.
All the power comes from the same generators and the same lines...sounds like your officemates have no idea what they are talking about.
When I enter my zip code, the difference between the highest and lowest rates on that power to choose website is about $450/year. That may sound like a lot, but it's probably about 1% of the average household income. You could save more money clipping coupons, if you really tried. These electricity companies work just like credit card companies. They lure you in with a great "introductory rate", then jack it up after a few months. Plus, they love to throw hidden fees and charges in the contract. You'll complain about a high bill, and they'll respond with, "oh, didn't we tell you??" Then, if you try to cancel, there is the ever dreaded "cancellation fee". You want to know how to save on your electric bill?? USE LESS ELECTRICITY! I know it may sound strange, but you should really try it. The single most important thing you can do to lower your electricity bill is to get gas appliances. That may be improbable due to what city or part of town you live in, but if it's possible, make sure your furnace, dryer, hot water heater, and oven are gas. Natural gas is used to generate part of your electricity anyways, so why not cut out the middle man? You'll pay up the ass in plumbing costs, but will probably make up the difference over the course of a year. My cousin is living proof of this. He and I both have houses about the same size, but he has electric appliances and I have gas appliances. His electricity bills ALWAYS run $150-200/month higher than mine, winter or summer. I use First Choice because...well...to tell you the truth, the only reason I used it in the first place was because there was a payment center near my house, so I didn't have to use a stamp every month. Now that I have online billing, it's a moot point. A few months ago, however, they started a rewards point program that gives me one point for every dollar that I pay to them. 11,000 more points, and I'll get a free ipod! Woohoo!!
4 real...If they are on the list, they are reliable...They had to post an LC to support the selling of electricity... Choose the cheapest, well, because its the cheapest...At the time I did it this past summer, it was FirstChoice...Prior to that it was Reliant...
Check out the Powertochoose.org site listed above... that's a good place to compare rates. Since you're just now asking about all this and you indicated you live in the Houston area, you are probably on Reliant's Price-to-Beat, which by design is supposed to be the most expensive "default" plan (whereas if you lived in Dallas, that would be TXU's Price-to-Beat). Price-to-Beat was put into place by the Texas legislature to stimulate switching (competition). If you live in Houston, it's CenterPoint that's delivering the power, and whoever you pick as a Retail Electric Provider (REP) is billing you. What's more complex now (than a year ago or so), is that you have more choices. Not only do you have different providers to explore, but you also have different term products (12-month, 24-month, etc.), and a variety of other options (renewable energy, cooler rewards programs, etc.). Price-to-Beat is going away very soon, so there's absolutely no reason to stay on it unless you just like paying more. Reliant (and the other incumbents - TXU & Direct) have designed alternative plans (like those I mentioned above) to keep their customer bases and attract new ones. When different incumbents tout their reliability, they're often talking more about customer service and general familiarity than they are about whether or not your electricity remains on. With the termed products, they're also talking about reliability in the sense that you're locking in a price to protect yourself from increases in the cost of gas (which influence the cost of electricity).
So at powertochoose.org I have 52 diffent choices of rates and plans with language that looks like: Price per Kilowatt Hour. The Price per Kilowatt Hour (”kWh”) provided by Stream Energy includes the price of the electric commodity, charges incurred by the applicable Local Wires Company (LWC), any other Related Fees associated with delivering electricity to your Service Address. The Price is a tiered pricing structure, based on the following tiers; i) up to 699 kWh depicted in the Facts Label as Average Monthly Usage of 500 kWh, ii) 700 to 1,499 kWh depicted in the Facts Label as Average Monthly Usage of 1,000 kWh, and iii) greater than 1,500 kWh, depicted in the Facts Label as Average Monthly Usage of 1,500 kWh. You acknowledge pricing for the Month to Month Plan as offered in Section B of the LOA (if Internet enrollment, in the attached Electricity Facts Label) is subject to change at the sole discretion of Stream Energy, based upon the fluctuation of wholesale natural gas prices, with or without notice. The rates will change based upon updates in pricing to the Month-to-Month Plan as posted on Stream Energy’s web site. You may track changes to your rate daily by visiting www.streamenergy.net. For purposes of this Agreement, Month-to-Month Plan is the same as a Variable Rate Plan. You acknowledge the pricing for the Fixed Rate Plan is a fixed price for the term (as indicated in Section B of the LOA). Under the Month-to-Month Plan and the Fixed Rate Term Plan, Stream Energy will take your historical usage data as provided by the Local Wires Company, determine your annual consumption of kWh, and divide by 12; the resulting sum of kWh will determine your pricing tier and price per kWh. The pricing for unmetered, outdoor lighting meters shall include all cost incurred by the Local Wires Company, Related Fees and the applicable monthly meter fee charged by Stream Energy. Prices appearing in the Facts Label do not include taxes and/or other non-recurring fees. You agree to pay the Price and all other amounts shown on the invoice from Stream Energy in a timely manner in accordance with this Agreement. You may be required to pay nonrecurring fees (e.g., service connection fee, meter test fee or special meter reading fee, move-in fee or switch fee) specified by the Local Wires Company. All nonrecurring fees may appear as a separate line item on your Invoice. You agree to pay such adjustments and nonrecurring fees as shown on the Invoice. In the event that the Public Utility Commission of Texas (the “PUCT”) permits any changes in fees charged by the Local Wires Company, or if the Electric Reliability Council of Texas (”ERCOT”) permits any changes, increases or adds new fees to the defined Related Fees, Stream Energy has the right to adjust the Price per kWh accordingly with or without advanced notice. In the event your ESID is classified as non-residential by ERCOT or the TDSP, you agree that your account will be treated as a commercial account, and that pricing under this contract shall be the kWh charged to residential customers plus pass through of the price of electric commodity, LWC, and other related fees. In the event that there is a change in the terms of this agreement (including pricing) between the time that you enroll for service (as specified by the date on your LOA) and the time that your LOA is actually processed with Stream, Stream reserves the right to deny service under this Agreement. Hasn't someone boiled this crap down for dummies?
TXU can suck my balls. They made me pay a $300 dollar f-ing deposit, that they didn't tell me about when I signed up. That was a nice surprise in my mailbox. Then they tell me the only way to get it reduced (but it clearly says you can get it waived if you are under a certain income on the terms and conditions) I have to find someone who has had TXU energy for at least a year and get them to co-sign. so **** them.
I think I'll go with GEXA. just learned that I can earn onepass miless with them and they have the lowest rate as well. I'll just have to make sure that I don't get burned with deposit. Thanks ya'll.
Good luck with Gexa, I just got off the phone with them for the 4th time this month about an overcharge.. Their customer service is a joke IMO and getting the accounting department to be able to communicate with a customer service rep is horrible.. Their savings isn’t worth the headache IMO.. I'm going back to Direct Energy, at least with them they always fixed problems with my account or bill and not pass the buck.. You’ll get what you pay for with Gexa IMO..
I paid 250 deposit to Reliant 3 years back and after a year I moved to a friends house so I asked them to give me back my deposit. It took me at leaset 6 months to get my money back and I can't even describe all the hassles they caused me to get that. RELIANT IS A MAJOR SUCKER!