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).
Once you sign up for your new energy plan, your local utility will be notified of the change and begin your service from the alternative supplier at the beginning of your next billing cycle. Upon starting your energy supply service, your utility company will include this charge on your energy bill and continue to charge for the delivery service portion of your bill. Why? Because although your supplier may offer you a competitive rate for electricity supply, your utility is still in charge of the infrastructure that delivers energy to your home – such as power lines and energy meters.
After Senate Bill 7 went into effect in January 2002, nearly 6 million power customers became eligible to choose their energy supplier. That number has grown through the years. By deregulating the state’s energy market, the Texas Senate gave constituents the power to choose. The process of energy deregulation in Texas dismantled the utilities’ monopoly over the electric market and encouraged customers to explore their energy options.
XOOM Energy, LLC through its family of companies is an independent retail electricity, renewable and natural gas provider in over 90 deregulated markets across the U.S. XOOM Energy’s family of companies includes: "XOOM Energy California, LLC", "XOOM Energy Connecticut, LLC, "XOOM Energy Delaware, LLC", "XOOM Energy Washington D.C., LLC", "XOOM Energy Georgia, LLC", "XOOM Energy Illinois, LLC", "XOOM Energy Indiana, LLC", "XOOM Energy Kentucky, LLC", "XOOM Energy Maine, LLC", "XOOM Energy Maryland, LLC", "XOOM Energy Massachusetts, LLC", "XOOM Energy Michigan, LLC", "XOOM Energy New Hampshire, LLC", "XOOM Energy New Jersey, LLC", "XOOM Energy New York, LLC", "XOOM Energy Ohio, LLC", "XOOM Energy Pennsylvania, LLC", "XOOM Energy Rhode Island, LLC", "XOOM Energy Texas, LLC", And "XOOM Energy Virginia, LLC" (hereinafter collectively "XOOM Energy") and offers electricity, renewable and/or natural gas products In each of their respective states. We are not affiliated with, nor endorsed by, any local utility or state commission.
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.
2. Fraud: Too many people have been victimized by glib sales reps with promises of cheap electricity flowing in an unending stream only to discover that, as is so often true, “it ain’t necessarily so”. They’ve been locked into unwanted term contracts or there’s a catch – some utilities will give you the great rate only if you meet a usage minimum; basically, the “rate” is, in actuality, a “bulk purchase” discounted fee – or they paid a deposit never to hear from the rep again.