My present supplier for Electricity is First Energy Solutions. On my last bill I am paying 6.37 cents per KWH. The apples to apples rate is presently 6.78 cents per KWH so I am paying about 6% less than the apples to apples.
I just received a flier in the mail from First Energy Solutions (my present supplier) offering the ability for anyone to lock in the rate of 6.99 cents per KWH for seven years. That’s a pretty significant term – basically I would be locked in until December 2019 per the contract. The price would be a little higher then what I presently pay but if we do see increased electrical prices in the next seven years I would have the comfort to know I am still at 6.99. Of course if rates go down… I’m stuck at 6.99. I did try to look back at some type of historical (five year) pricing to see what electric rates have done and could not find what I was hoping to find such as where a price of 6.99 would fall in the last ten year average.
I do not recall having gone through this process before and it looks like all the different suppliers have different “schemes” and reductions to consider.
Just curious if any TT’ers have gone through this process and if anyone has a recommendation.