The Pros and Cons of Monthly vs. Yearly Energy Contracts
When it comes to energy contracts, there are two main types: monthly and yearly. Monthly contracts are just that – you sign up for a contract that lasts for one month, and at the end of the month, you have to renew or cancel your contract. Yearly contracts, on the other hand, last for a full year. You have to renew them if you want to continue getting energy from that company. So which type of contract is more expensive? Do they both have termination fees? If I want to cancel my contract, what happens? In this blog post, we will answer all of those questions!
Monthly Energy Contracts
Monthly energy contracts are a great option if you want more flexibility. You don’t have to commit to a full year, and you can cancel your contract at any time without penalty. This type of contract is also usually cheaper than the yearly contract plan. However, monthly contracts may not be available in all areas, so make sure to check with your local energy company.
Yearly Energy Contracts
Yearly energy contracts are a good option if you want to save money on your energy bill. Most companies offer a discount for signing up for a full year. However, if you decide to switch providers or move house during the year, you will likely have to pay a termination fee. So make sure you are 100% sure that you want to sign up for a year before doing so!
Cancelling Monthly and Yearly Energy Contracts
If you decide to cancel your monthly or yearly energy contract, make sure to do so in writing. You should also get proof of cancellation in case there are any problems later on. If you cancel your yearly contract, be aware that you may have to pay a termination fee. So make sure you know what that fee is before cancelling!
At the end of the day, both monthly and yearly energy contracts have their pros and cons. It all comes down to what works best for you and your family. If you want more flexibility and don’t mind paying a little bit more each month, then go wit theh monthly contract. If you want to save money in the long run, then go with the yearly contract! Whichever one you choose, make sure to read the fine print and understand all of the terms and conditions before signing up.
So what are you waiting for? Compare energy plans today and find the best one for you!
We hope this blog post has helped clear up some of the confusion around monthly and yearly energy contracts! For more information, please contact your local energy company, or visit us at Power to Choose! Thanks for reading!