Do you know how much you are spending on electricity each month? Maybe you know about how much your bill is each month, but are you actually aware of your rate per kilowatt hour? A year ago this week, David told me about www.powertochoose.org. It is a simple site where anyone can go and see which electric provider has the lowest rate.
At the time, Mac and I had an account with Reliant Energy. We had been using them for about three years. I called Reliant to find out our current rate and was told it was approximately $0.16/kilowatt. Our plan was on a month to month term because our one year contract had been up years prior. Because our plan was now month to month, we would not be charged a cancellation fee. So I got on www.powertochoose.org and found a new plan through Pennywise Energy with a $0.10/kilowatt. I signed up for a 12 month, fixed rate plan. I set a reminder in my calendar for one year from that week to check back on the site to see if I could get a better rate.
This week I went back through the same process. I am now a Amigo Energy customer with a 12 month fixed plan for $.086/kilowatt. Plus 11.5% of my energy comes from renewable souces where as with Pennywise I was using 0% renewable energy. This took a total of about 20 minutes.
The hardest part about this process if to remind yourself in a year to check again. So your best bet is to put it in your calendar NOW!
Here’s how you can do the same thing:
1. Call you current provider to see what type of plan you are on (month to month or under a set contract), your rate, and if there is a cancellation fee.
2. Go to www.powertochoose.org
3. Click on Available Offers.
4. Scroll through the list looking for the lowest rate for a 12 month, fixed plan.
5. If renewable energy is important to you, you can see what percentage of each companies energy comes from renewable sources.
6. Click on the terms and make sure you understand their terms and conditions.
7. Once you have found the best option, click on Sign Up and it will take you to their site.
8. Spend about 10 minutes filling in your address, etc and they will switch it over for you on the date you choose.
9. Set up auto billing at this time too! (Amigo Energy allowed me to do this. I am not sure about all the other companies.)
10. Done. No need to cancel with your previous provider. Your new company will handle the switch.
Easy, huh? Ready, set, save!