Today I was looking at Amigo Energy Services 12 month true commitment plan to see if their electricity rate of 12.1 cents\kwh is really true. This would be the lowest residential electricity rate yet. As long as you use more then 500 Kwh a month you pay no monthly customer charge of $6.95.
Well, everything looked great until I read the residential electricity facts label. If you look at the chart below you can see that the rate is composed of an on peak off peak rate. This means that if you are like most people and use your energy during peak hours you will end up averaging higher then 12.1 cents\kwh. This quoted rate just averages their on peak off peak rate together. This is not realistic to how you will use your energy. You can expect to pay about 12.8 cents per kwh or so.
|Average monthly use:||500 kWh||1,000 kWh||1,500 kWh|
|Average price per kilowatt hour:|
|TXU (Oncor) Area:||12.1 ¢||12.1 ¢||12.1 ¢|
|Centerpoint (Houston) Area:||12.6 ¢||12.6 ¢||12.6 ¢|
|AEP Central (CP&L) Area:||12 ¢||12 ¢||12 ¢|
|TNMP Service Area:||12.2 ¢||12.2 ¢||12.2 ¢|
|AEP North (WTU) Area:||12.9 ¢||12.9 ¢||12.9 ¢|
This price consists of the price per kWh charge plus a $0 fixed monthly charge for meters using at least 500 kWh per billing period. At or above 500 kWh per billing period your average price per kWh for electric service will not vary regardless of usage.This price consists of the price per kWh charge plus a $6.95 fixed monthly charge for meters using less than 500 kWh per billing period. Your average price for electric service per kWh will vary according to how much electricity you use.
|2 Average Months: JUN & SEP||Off-Peak Rate / On-Peak Rate|
|Average Month kWh Charge: 12.1 ¢||TXU (Oncor) Area:||11.45 / 13.7 ¢|
|8 Off-Peak Months: OCT-MAY||Centerpoint (Houston) Area:||11.95 / 14.2 ¢|
|Off-Peak kWh Charge: 0.65 ¢ off-peak discount||AEP Central (CP&L) Area:||11.36 / 13.6 ¢|
|2 On-Peak Months: JUL-AUG||TNMP Service Area:||11.55 / 13.79 ¢|
|On-Peak kWh Charge: 1.6 ¢ on-peak charge||AEP North (WTU) Area:||12.26 / 14.5 ¢|
So in the meantime I would continue to read the electricity facts label for each electric rate product before you sign up.
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