Ultimately, analysts said, this means that the vast majority of customers are not reaping the benefits of electricity deregulation, which promised that more competition would mean healthy savings. One analyst estimates that consumers are leaving about $2 billion a year on the table, which is likely flowing to the bottom lines of retail electricity companies.
If you’re on a fixed rate tariff with your current supplier, check to see if there’s an exit fee for leaving the contract early. If there is, you’ll need to factor this cost into your price comparison as it could swallow up some of the potential savings. If you can supply your tariff name when you get a quote, we can take your tariff into account when showing you the savings you could make.
Energy Choice Experts: This company provides an apples-to-apples cost comparison of all 12 month plans based upon a client's usage history and guarantees they will find the Lowest Annual Cost plan for each client based upon their usage pattern. New clients pay a flat $35. Returning clients pay $30. You sign up the for electricity service yourself. They only provide the analysis (the hard part). More info
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).