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We're about to renew our electric contract, do you think that the electricity rate keeps raising and we'd better pick the fixed rate ($0.0795 - $0.0825 / kwh) for 18-24 months term?
We have electric for everything in the house (no gas line in our area) so in the winter, the electric bill was up to $400-$500 /mo (with the current rate $.0747/kwh).
I never knew it could be anything other than what the power company charges. I pay .088854 per KWH for less than 400kwh....& .115785 for summer usage over KWH.
I've kept a spreadsheet for 8+ years of all my utilities & consumption. I'd say compare the last 18-24 months usage to determine which rate/contract is best for you.
I never knew it could be anything other than what the power company charges. I pay .088854 per KWH for less than 400kwh....& .115785 for summer usage over KWH.
I've kept a spreadsheet for 8+ years of all my utilities & consumption. I'd say compare the last 18-24 months usage to determine which rate/contract is best for you.
Different states have different ways to handle electric utilities. When I lived in PA, PECO actually preferred that you choose one of dozens of electric suppliers - very cut throat pricing. They just wanted to control the distribution charges and handled the billing on one bill for both the supplier of your choice and the distribution charges from PECO.
Now that I live in DE, there is just one supplier for where I live.
It sounds like the OP lives in a state where they deregulated the electric utilities.
Avoid the variable rate because that is dictated by market prices which can have wild swings, it's usually a little lower than the fixed rate but any savings and then some can be wiped out in a few months if there is a spike in energy prices. A year ago the natural gas prices were soaring at the end of the winter, subsequently the electric rates for those on variable pricing soared. Some were paying double and triple the cost of the fixed rate for a few months.
Avoid the variable rate because that is dictated by market prices which can have wild swings, it's usually a little lower than the fixed rate but any savings and then some can be wiped out in a few months if there is a spike in energy prices. A year ago the natural gas prices were soaring at the end of the winter, subsequently the electric rates for those on variable pricing soared. Some were paying double and triple the cost of the fixed rate for a few months.
Some of the news I read online, they predict the electric rate can decrease a little bit in future , that's why I'm confused
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