When you have the power to choose your energy supplier, you can choose how you want to save. Let’s first breakdown the difference between fixed rates and variable rates when it comes to energy.
The Rundown on Fixed Rates
It’s no question that in times of uncertainty, we often long for a sense of stability. With a fixed rate energy plan, your mind can be at ease knowing your energy rate won’t increase or fluctuate from month to month.
Locking in a fixed rate plan now, as opposed to a variable rate, can benefit you and your wallet without having any added stress or risk later. If you’re looking to save long term, a fixed rate energy plan is for you.
Fixed Rate Energy Plan Takeaways:
- Allows you to pay the same rate for the length of time you opt in for
- Determined by how much you use (measured by price per kilowatt each hour)
- Your bill is completely unaffected even when electricity prices spike. For instance, as demand often increases during high temperatures, your price remains the same.
- Includes less financial risks and simplifies budgeting
A Comparison to Variable Rates
A variable rate may seem very attractive at first glance. This is because they offer a lower monthly payment upfront. However, because this rate fluctuates with the market and relies on supply and demand, weather and extreme temperatures, you will end up paying more for this service during a price hike. This will leave you paying high rates unexpectedly while also making it difficult for you to budget.
Variable Rate Energy Plan Takeaway:
- Fluctuates with the market which brings uncertainty
City Power and Gas’ Low Fixed Rate Plans
If energy is deregulated in your state, such as New York, no need to fret.
City Power and Gas not only provides fixed low rate energy plans, but also offers rewards to our customers as a thank you!
Not to mention, you give the planet a little extra love by choosing to go green.
Need a Quote?
We’d love to chat! Click “Enroll Now” on our website or give us a call at 877-518-9339.