Shop for a Long-Term Electricity Plan
The heat of summer is upon us, and your air conditioner is probably working full force. This means your energy bill is likely on the rise. Or maybe your current plan is about to end. Or maybe you’re in a variable-rate plan where rates could skyrocket at any moment. Now might be the right time to shop long-term electricity and lock in a plan with a lower rate.
Fortunately, there are 24-month and 36-month electricity plans that rival the Met-Ed price to compare (PTC) rate, currently at 6.69 cents per kWh. Plus, when you factor in rates and incentives, the two best long-term electricity plan options below become better deals!
Best 24-Month Electricity Plan
If you want to lock in a low rate for 24 months, consider the Verde Energy Clean Power 24 plan. The current rate is 7.59 cents per kW. In addition to this cheap rate, there are no monthly recurring charges or early termination fee. Plus, the Verde Energy Clean Power 24 plan is a renewable energy one. Verde Energy purchases renewable energy credits (RECs) for 100% of the power you use, which ultimately helps to support green energy.
When you sign up for this electric plan, you’ll gain access to the Verde Energy Refer-a-Friend program. For every friend you refer to Verde Energy who signs up for service, you’ll receive a $50 prepaid Visa card. When your contract term is about to end, Verde Energy sends you a renewal notice. Just be sure to respond or the company might automatically enroll you in a new plan.
Best 36-Month Electricity Plan
The Constellation 36 Month Home Power Plan is the lowest priced 36-month plan at just 8.29 cents per kWh rate. The rate is a bit higher than the Met-Ed PTC rate. However, Met-Ed PTC rates change quarterly, and with natural gas prices trending higher, their rate may increase in the future. On the other hand, the Constellation rate remains fixed for three years. Plus, there’s no monthly recurring charges. Constellation is a five-star rated company. Therefore, not only do you get a good rate with no monthly charges, but you also become a customer of a top-rated electricity company.
You can also save some cash by taking advantage of Constellation’s $50 gift card Refer-a-Friend program. At the end of your contract term, look out for the renewal notices and respond. Otherwise, Constellation may extend your contract for 36 months at the price in the renewal notice. Constellation also charges a $150 early termination fee if you cancel early. While that’s steep, remember that switching to a future lower rate might be worth the price.
Decide If Now Is the Right Time to Switch Plans
If you want to avoid Met-Ed’s possibly rising PTC rates this winter, then shop long term electricity for a 24-month or 36-month electricity plan. Whichever plan you go with, make sure to conserve energy this summer and year-round. To sign up for these plans or to read reviews, and check out other options, visit https://www.paenergyratings.com and explore all the electricity plans further.