Fixed energy plans offer you a chance to compare energy rates in your home or business energy market. You then choose an energy rate and plan that best works for you. When you choose a fixed rate option your rate never changes for the duration that you choose. You enjoy the same prices for your electricity or natural gas service no matter what the energy markets do.
Even though customers in deregulated cities routinely pay more for electricity, there is a bright spot. The gap between the average price paid for electricity between deregulated cities like Houston and regulated cities like San Antonio have dwindled to the narrowest point ever to 8.8 percent. Back in 2006, customers in deregulated cities were paying nearly 47 percent more for electricity than their counterparts in regulated cities.
There are a variety of different types of gas and electricity plan that are currently out there for prospective customers to consider. Some plans offer fixed rate deals , these allow you to be sheltered from price rises over an agreed period of time. Other plans allow you to manage your entire account online, making it easier and more efficient for you to handle your energy supply.
Just Energy is a leading independent energy supplier with over 1.6 million electricity and natural gas customer accounts across the US and Canada. Just Energy’s business involves the sale of natural gas and electricity to residential and commercial customers under long-term fixed-price or price-protected contracts (price protected for electricity). By securing the price for natural gas or electricity under such contracts for a period of up to five years, Just Energy’s customers reduce or eliminate their exposure to changes in the price of these essential commodities.
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Although conventional long-term contracts may offer you very low kilowatt-hour prices, these contracts also impose many obligations and hefty penalties for non-compliance. No deposit electric plans tend to have a slightly higher energy price that long-term contracts, but allow more freedom in how you pay for your electricity. The most relevant differences between no deposit electricity plans and conventional contracts are summarized in the following table:
Like we said, fees don’t necessarily make for a bad plan — although it’s worth it to do the math to see if you can save with another provider. For example, compare TXU Energy’s Simple Rate 12 plan with its $9.95 base charge, alongside Direct Energy’s Live Brighter 12 plan with a smaller base charge, and Reliant’s Digital Discount plan with no base charge. We’ll use a Corpus Christi ZIP code and assume 1,000 kWh/month of energy use.
But competition didn't necessarily end up cutting prices, according to the report. One contributing factor is confusion among customers as they try to choose among scores of retail electricity providers and the overwhelming variation of plans, leading many to just stick with familiar companies rather than look for better deals, according to the Texas Coalition for Affordable Power .
Founded in 2005, Infinite Energy offers great rates and award-winning, U.S.-based customer care, and serving most of New Jersey. They offer contracts anywhere from one month to up to five years. Infinite Energy offers flexible payment plans, managing accounts through online portal, customizing plans and services, and paying bills online. Infinite Energy also offers paperless billing and autopay options.
Prepaid electricity plans are yet another option available to Texas customers. Prepaid plans let you avoid credit checks and deposits by pre-paying for your electricity. Prepaid electricity plans typically do not have a fixed duration and operate on a pay-as-you-go basis. Shopping for prepaid electricity can often yield relatively cheap electricity with no deposit. See Prepaid Electricity: Is It Right For Me? for more.
Some good news: According to J.D. Power’s 2016 survey on retail electric providers (its most current survey of the space), Texas has the highest overall satisfaction with retail electric providers out of any state. And because rates, plans, and offers can be so similar from provider to provider, customer satisfaction scores are a great way to break a tie. Think of it like choosing who to hire when you have two candidates with similar resumes — you’re going to pick the person with the glowing references.
On the one hand, long-term, fixed-rate (contract) plans offer stability in pricing. If energy supply costs suddenly go up in your area, you won’t be left paying more than what you bargained for. You’ll have peace-of-mind. If you want to switch out of your contract before it ends with a lower cost plan, you’ll likely face a cancellation fee (early termination fee).