Fixed Rate Electricity Plans

These products are billed monthly with an invoice showing the electricity or kWh used in a given period, the current rate being billed, the utility charges, taxes and any monthly fees accessed by the electricity supplier.

In some cases electric companies may offer introductory promotions or added benefits such as $50 bill credit after your 3rd month on contract or a $50 Visa gift card or some other type of incentive to go along with your contract to sweeten the deal.

These post pay products usually require a credit check prior to completing the enrollment. If your credit falls below the credit scoring threshold of the given electricity supplier, you may be asked to pay a deposit to initiate service. The credit scoring thresholds and deposit amounts may vary by electricity providers. But for those consumers with good credit, just like shopping for a car, the choices are limitless. The rate that you pay can be significantly lower per kWh than if you were credit challenged.

Some companies also offer a credit check free fixed price term products These products come with set deposit amount for single family homes or multifamily apartment units which can usually be paid in split amounts for affordability. The rate may be slightly higher than a credit checked product but can help to build utility credit.

Many electricity providers offer lower rates or added benefits for electronic or E-Billing, Green Fixed Price Products as well as autodraft. Be sure to compare the details before enrolling.

As a side note: If you are living in an apartment or renting, it might make since to choose a fixed term that will end at or near the end of your lease or rental agreement. This will ensure you are able to take full advantage of the great rate you were able to lock in at. Some electricity providers will all you to transfer your electricity service to your new address but some may not, especially if you are moving from a single family home to an apartment or vice versa.