Compare Electric Rates

The time and energy that it takes to compare electric rates can be overwhelming for some.  However, with a little research and education, customers in Texas, Pennsylvania, New Jersey, Maryland, Delaware, and Connecticut can lower the cost of their electric bill by comparing electric rate offers from electricity companies against the electric rates of the local utility.

Electricity customers attempting to compare electric rates should look at a few key elements for every offer:

1. Is the electric rate fixed or variable.  A fixed rate will secure the electric rate for a set period of time as stated in the electricity contract.  Variable electric rates will usually have low introductory offers, but will contain to guarantee as to how high the rate can go.

2. Meter charge.  A large meter fee (anything above $5) can make a rate appear low when really the electric company is just charging you more in another area of the bill.  The average size house uses about 1000 KWh a month.  A rate of $0.09 per KWh will equal a $90 bill.  Adding a $10 meter charge would be the equivalent of adding a whole penny ($0.01) to the rate.  So a $0.09 cent rate with a $10 meter charge is the same as a rate of $0.10.

3. Is any proportion of the energy you buy derived from green energy sources? Some people are only concerned about the price, but if you are interested in helping you environment you can request a portion of your energy to be generated from green energy (usually wind power).  There are 100% wind power electric contracts available, but usually you will be rate that is a little higher.

These are three of the main things to consider when taking the time to compare electric rates.

For a list of pre-screened electric rate offers, visit our ELECTRICITY PRICES section to find low electric rates in your state.

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