My fixed rate electric plan expires in April. I called my current provider yesterday (Constellation Energy) and they quoted a fixed rate that's two cents higher if I renew now. Given all the folks on variable rate plans that are sweating bullets right now, should I take the offer or wait a couple of months for the dust to settle?

take it...........power isn't going to get cheaper.

How much per KWH ?

10.5 cents per kWh

I'd wait until things die down and this winter becomes a past memory, your fixing to see some changes involving NG in the future.

Renew. I'm now paying 11.3¢

Right before this ice situation hit, I signed up for 8.2 fixed 24 months.

Did the same thing for 36 months, like to think it was a brilliant move but it was just the luck of timing.................I think

That's about what I'm paying now (2yr lock) . I'd lock it in at that rate.

My business 4 year contract expired a month before this. I was working on getting a new contract right before this hit but didn't get switched, I'm thinking they are gonna screw me for what time the power was up.

Same here. I would wait. Rates are high now with people switching off Griddy and similar plans. DO NOT take first offer from current provider. They will always be high. The closer mine got to renewal the lower they went. Spring is normally a good time to sign up but rates were low this past summer.

Never rush into any contract unless you know for absolute certainty. Even then consider potential losses.

Dan I think you should get a variable rate plane before summer gets here. Compare the prices, you will really save a lot of money.

Don't worry Gov. Abbott will save the day...

Gov. Abbott Announces Moratorium

I was on a variable month to month. I'm very concerned with the screw coming. I called my current provider (one that's been in TX a very long time and they were very helpful. Switched to a fixed 8.9 kwh rate no matter usage (my usage is really high) for 12 month lock, and they back dated it to my last meter reading 2/12 before this storm hit. Now, we shall see.

OP, I'd switch and hope you don't get hit with an outrageous bill and get caught up in the mess. gov't will bail out the providers but consumers will be last to get help and ultimately we will all pay for the repairs, upgrades and increases

I locked in for two years last time, instead of one when I renewed about a year ago...that would have left me sitting pretty, but we are moving in April. I suspect fixed contract price will be higher than my old one.

Just got off the phone with Constellation, they aren't offering fixed rate contracts until Mar 1

Paluxy... On the phone with these yahoos right now and found out the same.... Is there something I missed about this storm affecting renewals for fixed rate plans???

Have any one of you gotten you bill that included all of part of the big chill?

Man, you guys like giving money away. It still only costs them 5c /kwh (wholesale rate) to generate -
I just checked P2Choose and still tons of 'billing companies' offering under 8c/kwh.
No matter who you pay, you're still gonna get the same power & line service.

But not all offer the rates to all areas.

Yep. Not availed in my area.

That's true your current 'provider' will NEVER offer you their BEST rates to RENEW that they only offer to new customers.
That's why you have to leave them and become a 'new customer' to a different provider. Plenty of them available.

Funny thing is you can come back to them 1yr or 2yr later and will be a 'new customer' and once again get their under 8c/kwh 'new customer' rate.
I rotated between three, and cleaned up $$ on savings!

Other funny thing is that they only thing they are 'providing' to you is a place to pay the bill - your power, line service, & reliability remain unchanged no matter who you select.

Estimate.


..
"This week your usage was 2,048.26 kWh compared to 657.84 kWh last week. Based on your usage, this month’s estimated* electricity charges are $372.84 (last month’s charges were $241.30). "

Energy Ogre