Variable-Rate Energy Plans: What are they?
Variable-rate energy plans charge less for electricity during off-peak times and more for electricity during peak times. They’re best for those who don’t want to be locked into a contract, can shift their usage by season or time of day, and enjoy keeping an eye on the market. Keep reading to learn more about how these plans work, the technology that supports them, and how they benefit consumers.
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What You Need to Know About Variable-Rate Before Choosing an Energy Plan
1. Save on electricity during off-peak times
Variable-rate energy plans offer lower rates for the electricity you use outside of peak hours, typically from 9 p.m. to 7 a.m., and all day on weekends and holidays**. If you can shift some or all of your usage to these hours, you could see significant savings on your monthly electric bill. You have the power to choose which plan you will take to save money on your electricity bill.
2. Avoid being locked into a contract
Variable-rate energy plans don’t require a long-term contract, so you can change plans at any time to find one that’s right for you. You also have the option to sign up for a fixed-rate energy plan if you prefer the stability of knowing what your electric bill will be each month.
3. Pay lower rates on average than with a fixed-rate plan
Variable-rate energy plans’ rates tend to be lower on average than those of customers with fixed-rate energy plans. You might save enough money on your monthly electric bill that it covers the cost of any setup fees or early cancellation fees you’d pay for ending a fixed-rate plan early.
4. Monitor the market with easy-to-understand usage reports
Variable-rate energy plans are supported by personalized, detailed billing reports that compare your rates each month to published market data so you can stay on top of where prices are headed and shop for competitive offers if you choose to change plans. These reports also make it simple to see how much electricity you use during off-peak hours. You can call Pulse Power, Reliant Energy, Just Energy, or any other energy provider you have enrolled with.
5. Get price protection against market fluctuations
Your variable-rate energy plan protects you from market volatility, meaning your rates won’t change for the term of your contract if market prices stay the same or go down.
6. Keep watching for additional bill credits
The way we price variable rate plans means we absorb some of the costs we incur when the market prices go up. This helps keep your rates lower, but you’ll get an extra benefit: if market prices stay stable or go down, you could get money back on your next invoice in the form of additional bill credits.
7. Take advantage of optional services
Variable-rate energy plans are available with many optional services, like paperless billing and automatic payment. You might also be able to customize your plan to reflect your lifestyle with features that let you bring your own thermostat or control panel, track your usage by appliance, change the way we calculate your bill, or get alerts when prices go up or down. Compare some of our top providers such as Reliant Energy, Pulse Power, Just Energy, and others to find the best rates.