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Who is prescient about electricity prices?

kranky

kranky

Elite Member
I have a two offers for electric supply. Our electric utility currently charges 9.89 cents/kWh.

One offer is 7.19 cents/kWh for 2 years, the other is 7.5 cents/kWh for 7 years. I'm tempted to take the 7 year deal.
 
Hmm. How many kWh/mo do you use?

What does the 7.19cents/kWh go up to after 2 years?

I think I would also pick the 7.5 cents/kWh for 7 years plan. That actually sounds like a pretty good deal. Careful of any fine print.... Seems almost too good to be true.

Seems unlikely that electricity prices will go down in the next 7 years. Just sayin'. 😉 And 7.5cents/kWh is pretty damn cheap....

Last bill was $102 @ 918kWh, or about $0.111/kWh. And we're in the "cheap" Pacific Northwest with our abundant hydroelectric power. 🙁

Edit: Note: The above is just calculated using the total bill divided by kWh used, and isn't the way they're calculating your kWh rate in the offer. Technically, our cost is $0.067780/kWh. So yeah, be sure to read the fine print and understand all the "other" charges they'll be charging you.
 
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Average usage is 440 kWh per month, making the 7.19 cents deal $31.64 a month for electricity supply. The 7.5 cents deal makes it $33.00 a month.

No indication what would happen after the deals end. I'm thinking it's worth a buck + change a month to have a stable price for 7 years.
 
Delivery fees and such? Make sure you read everything. What source is your power? I'd expect hydro and nuclear to be fairly stable over 7 years. Fossil fuel is more of a gamble.
 
The utility controls the transmission and delivery charge. We only have a choice for electricity supply. The suppliers use coal, nuke, natural gas and hydro. Since the utility provides the "price to compare" (9.89 cents/kWh) for electricity supply, it's an apples-to-apples comparison. There's no fine print in the alternative suppliers offers - a straight price for supply, no other costs.
 
Crikey, kranky, you're in Pa if I recall correctly. So am I, but I don't get offered rates that cheap. I'd jump on the 7 year deal if I were you, but, hell, what do I know?
 
Perknose, yep, SW PA. Check fes.com, I bet you can get the same deals.

And if this works out for you, then you help me figure out how to get FIOS for the crazy low price you get. 🙂
 
Just looked at my bill from last month and we used 917kWh. We just got a quote for 9.2 cents but when I went to the website it shows 8.5 cents. All the other providers show their rates like .0870 so I'm not sure if the 9.2 cents is really .092 or else how could I compare the rates.
 
MustISO said:
Just looked at my bill from last month and we used 917kWh. We just got a quote for 9.2 cents but when I went to the website it shows 8.5 cents. All the other providers show their rates like .0870 so I'm not sure if the 9.2 cents is really .092 or else how could I compare the rates.
Click to expand...

I'm sure 9.2 cents = .092, and .0870 = 8.7 cents.
 
I'd pay a lawyer $100 to look at the 7 year deal and if it's legit jump. You don't need to be prescient to understand that energy costs are not going to drop.
 
kranky said:
Average usage is 440 kWh per month, making the 7.19 cents deal $31.64 a month for electricity supply. The 7.5 cents deal makes it $33.00 a month.

No indication what would happen after the deals end. I'm thinking it's worth a buck + change a month to have a stable price for 7 years.
Click to expand...

I agree. lxskllr makes a good point about the supply mix. If your power company is mostly fossil, I'd definitely take the long term deal.
 
kranky said:
I see it.
https://www.fes.com/content/fes/home/offers/residential.html
Put in your zip code (i picked a random one for a SE PA town) and got a page that says "Special Seven Year Price Stability Offer For PECO Customers"
Click to expand...

Thanks, my friend! The seven year option rocks, but the other option makes me go :hmm:

1. PECO customers can secure long term pricing. Enroll in our seven year 7.50¢/kWh offer. :thumbsup:

2. Qualifying Customers can get this low introductory fixed rate of 7.40¢/kWh for generation service through March 2013; then lock in a great low price of 9.20¢/kWh through September 2015. 😕
Click to expand...

^^^ Although the second one does include a $25 Visa gift card.


Ok. Broke out my current bill. I'm paying 8.98¢/kWh to Sperian, which was the best guaranteed, non-variable, no surcharges 12 month rate I found during last year's go-round.

This whole 7 year lock-in really makes me wonder WTH is going on. I'm guessing they must know something we don't about the longer term pricing trends, but I don't know what it is.
 
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nickbits said:
Someone has to pay for the windmills.
Click to expand...

And the $1 billion power plant scandal, and all those solar subsidies to foreign manufacturers, and more fat solar subsidies to farmers, and the big paycheques the civil servants who run the hydro get. 🙄
 
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