Energy pricing...contracts

[lookinforwalleye]

Just wondering if the good membership has given any thought to these electricity contract plans,wondering if with the smart meters and "time of use" coming into affect if it makes sense to look at a locked in price?

 

What are your thoughts?

[12 Volt Man]

I don't sign up for those contracts because you can get screwed over if the price drops and you are locked in at the higher price.

 

what I am on is just an equal billing plan: you pay the same amount each month, even though the bill comes out every two months.

 

keeps it relatively easy and easy to budget. its easier on the pocket book to pay a little each month than more once every two months IMO. easier to budget.

[Guest Johnny Bass]

SCAM! They guarantee cheaper rates so my friend signed up with Direct Energy. She is paying $300 every 2 months for a one bedroom apartment. I don't pay that much in my 2000 square foot home. With multiple TVs, A/C, central vac, multiple fridges, multiple computers. ect... She moved to another place thinking the contract is void? NOPE! And they raised her rate from 6% to 8+ percent. When it was supposed to be a "fixed" rate.

 

Legalized robbery. I'm telling you, and all under the eye of the government.

 

Now she has to pay a early cancellation fee and after that they can take up to 4 months to process the information and cancel it.Which means another 4 months of being scammed! It used to be when you no longer wanted a service you would cancel it, but not anymore. They keep you on the hook for as long as they can.

 

Stick with Toronto Hydro.

Edited August 26, 2010 by Johnny Bass

[ketchenany]

NEVER! Locked in my Natural gas many years ago at $.28 a year later my neighbours were paying $.16

 

If the room is empty don't have lights on. Change to energy efficient bulbs, programable thermostat works wonders etc.

 

I'm with Johnnybass stick with you local supplier, my 2500 sq ft home uses about $1550 in electricity per year.

[lookinforwalleye]

I understand what you guys are saying about the evils of the energy marketers, but at this time you can lock in for 5.6 kwh where as the time of use billing with the smart meter is going to be 5.3 to as high as 9.9 in the peak time.

Just wondering if it might be better to pay 5.6 all the time rather that the adjustable rate.

 

I can`t see the Kwh price going below 5.6!

Edited August 26, 2010 by lookinforwalleye

[Guest Johnny Bass]

 

I can`t see the Kwh price going below 5.6!

 

Last time my mom said that, she was in for a rude awakening. Its basically gambling. I prefer stable prices as opposed to unexpected surprises.

 

These companies should be thrown out of business. Another step towards privatizing our hydro and a taste of whats to come. Scams.....

[suds]

Never do it. Its the same priciple as variable rate mortgages. If you can afford the fluctuations, you will save money over the long term. If you own an apartment building and someone else is covering your hydro costs; you may not care as much.

[jimmer]

Nobody gets into the electricity business to help out their potential customer. They want to take you for as much as possible, don't sign.

[kickingfrog]

I vote no as well. Do a search on the net.

[BUSTER]

I love when they ask to see your gas or hydro bill! Ya what ever punk , beat it!

[Musky or Specks]

Don't do it I did my bill went up double and my usage had actually decreased. Fought like hell to get out of it and had to pay a large penalty. Paid it because it was still cheaper in the long run.

[lookinforwalleye]

Maybe I am missing something but I can`t see how signing a deal to pay 5.6 a Kwh is going to cost more than paying time of use pricing as high as 9.9 a Kwh and averaging probably well over 7 cents a Kwh.

[Guest Johnny Bass]

Maybe I am missing something but I can`t see how signing a deal to pay 5.6 a Kwh is going to cost more than paying time of use pricing as high as 9.9 a Kwh and averaging probably well over 7 cents a Kwh.

 

Because if prices go BELOW 5.6 KWH. Your stuck paying more. I remember when they made my mom sign up and were saying how Hydro prices were going to sky rocket. Guess what? They did a nose dive and who was stuck paying more? My mom.

 

Like I said. Its basically gambling.

 

For some people I hear it worked out(when they first came around) but for the most, I'd say it has not.Sign up if you like and let us know how it turns out.

[alphaalpha]

Nobody gets into the electricity business to help out their potential customer. They want to take you for as much as possible, don't sign.

 

 

This has always been my thinking and as such have never signed up.

 

 

I don't think i have ever signed anything from someone coming to my door for that matter. I also hate that some charities only try to get you to sign a contract. most of the time i would gladly give them $20 at the door but no way will i sign anything...sorry off topic.

[chessy]

my mother just got out of hers she is now saving about 200 a month.... it is a complete rip off...