agchino said:
I just checked and looks like there are some 6 month plans that aren't too much higher than the 12 month plans. My current contract runs out in 10 days.
Can't see any 3 month plans. Still trying to find info on what happens with my current provide when my current plan runs out.
I understand the unknown of future pricing, but if contracts offers are generally better in the fall/winter then maybe it is worth it to jump off the July-July cycle.
Right now I am staring down AT LEAST a 5 cent/kwh hike either way, so looking more for a long term strategy switch.
You need to break the cycle, somehow, or your always going to be paying more for electricity than you neighbor with a winter renewal cycle.
Your options are month-to-month, finding a 6-month contract, or signing a 12-month and buying it out sometime this fall/winter.
Think of the energy market like the stock market. If you look at a long-term chart, you'll always see spikes in the summer. Renewing every year, forever, during the summer season equates to alot of money in higher contract prices.
Further to the energy market being like the stock market, for my business (we consume ALOT of energy), if I wait to renew at only contract end, I leave lots of money on the table, so to speak. We watch the market, and when we see a good "buying opportunity", I renew at that point in time. It's a "blend and extend" strategy that most folks don't think to do.
That being said, I'm not sure the same can be done on the residential side. I'm paying in the high 3's/low 4's on my business contract and they're 3/4+ year contracts.