Which Cheapest Long Term Plan Is Best?
Now that the summer heat has worn off, you should shop for a plan with the cheapest long term rates. The winter cold will drive Texas electricity prices back up, so we’re in the sweet spot. And with rates so low, having a long term plan will keep the savings coming for years to come. Still, it’s important to compare Texas electricity rates. And while each family’s situation is different, the plans outlined below are some of the best low-rate plans available.
Two and Three Years with Chariot Energy
The cheapest long term plans come from Chariot Energy. If you want the best rate and lowest bill, opt for the Chariot Energy GridEdge 36 plan. At an average usage of 1,000 kWh, your rate is 10.4 cents per kWh. This results in an average bill of $156. But if you don’t want to lock in for quite that long, the 24-month version of this plan boasts a rate of 10.5 cents and average bill of $157.
Both plans have a bill credit of $90 when your usage reaches 1,000 kWh in a billing cycle. Make sure you want to commit to this plan because the early termination fee is $15 for each month remaining on your contract. For example, breaking a contract with 9 months remaining would stick you with a $135 fee. And that’s almost as much as one month’s bill!
Cheapest Cost; Long Term
The two next cheapest plans have a bit of a price hike compared to the Chariot Energy plans. However, they may be good options for you.
The Frontier Utilities Frontier Saver Plus 24 plan and Gexa Energy Gexa Eco Saver Plus 24 plan have their advantages. Both have average bills of $171 with rates of 11.2 cents. Both companies hold higher customer ratings, 3.9 for Frontier Utilities and 4.0 for Gexa Energy. On the other hand, both plans have sizable early termination fees of $295. Whether you break your contract one day in or one day from the end, you’d pay $295 regardless.
Our Recommendation
All things considered, the Chariot Energy GridEdge 36 plan is the best and cheapest long term plan you can get this month. For most people this plan is a great choice. However, just make sure your usage reaches 1,000 kWh every month. Otherwise, you won’t earn that massive bill credit.
But you don’t have to take our word for it! Shop for your new plan at http://www.texaselectricityratings.com/electric-rates. You’ll find a wide array of plans, and surely, one or more will meet your needs.