Competitive Energy Prices are Always Changing
Your electric bill stays the same, but companies are now offering plans that allow customers to lock in a fixed rate for electricity, just for one month at a time. When done correctly, this allows customers to adjust their plans based on fluctuations in the volatile wholesale electricity market and take advantage of lower rates.
All About Variable-Rate Plans
A variable-rate plan is a contract between the customer and supplier. It allows customers to pay a fixed rate for electricity during certain months, and a variable rate at other times. Variable-rate plans typically come with increased flexibility—customers can switch plans as often as they want. This flexibility contrasts greatly with standard month-to-month contracts which only allow customers to switch plans once per term. Customers can’t take advantage of lower rates if they’re locked into a standard month-to-month contract.
5 Reasons to Consider a Variable-Rate Energy Plan
Here are the 5 reasons to consider a variable-rate energy plan:
- Pay Less for Energy – Customers can pay 80% less than traditional electric rates for their homes and 30%-50% less than other competitive suppliers while enjoying the ability to switch plans at any time. If you choose a 1-year contract, you can save even more because the contract will lock in your rate for a year.
- Get Competitive Prices with No Lock-In Period – Variable-rate plans don’t require any contracts, so you aren’t locked in and can switch to better plans at any time. This flexibility allows customers to take advantage of changing energy prices without having to sign up for an expensive contract.
- Reduce Risk with Flexibility – Variable-rate plans help customers manage risk because the prices are tied to the wholesale market, rather than a power supplier’s costs. This means that if any issues develop within your local power distribution network (i.e., downed power lines due to storms), the price you pay for energy remains unaffected.
- Improve Power Quality – Variable-rate plans allow customers to adjust their power use based on time of day, which means they can reduce the need to use a generator during peak price periods and increase power usage during off-peak times when wholesale prices are lower. This results in fewer disruptions within the local distribution network and a better quality of electricity service.
- Monitor and Track Your Energy Usage – With the ability to switch plans at any time, you can take advantage of lower rates while still maintaining your comfort level. Variable-rate plans also provide customers with tools for managing their energy usages such as the Dallas electricity rates customer portal and Dallas energy plans mobile apps which allow them to monitor and track their energy usage in real time.
Choosing a variable-rate plan can be beneficial for consumers who are looking to manage their electricity costs without signing up for an expensive long-term contract. With the ability to switch energy plans at any time, customers can take advantage of lower rates while still maintaining their comfort level. To learn more about variable-rate plans, read 4Change Energy reviews and New Power Texas reviews for more information, and consider home warranty companies if you need additional protection.
