Reliant One Rate Flex Plan
The Reliant One Rate Flex plan sounds interesting but what is it really? It comes with a $50 target gift card and there is no term commitment or early termination fee. You pay 13.4 cents kwh for this month to month no commitment rate. Do you really want to pay 1.1 cents more per kwh for a target gift card? There are electric rates as low as 12.3 cents kwh out there for a 12 month commitment. Most residences use on average around 800 kwh a month and 9600 kwh a year. This comes to $101 more a year you are paying Reliant for your $50 Target gift card.
If you like the flexibility of being able to get out of the rate plan without penalty then you will do well to stay on this plan as it is one of the lowest cost no term rates out there. The problem is that a no term rate is never a good idea. It’s like betting on the stock market or driving a car without insurance. You want to lock in on a low cost term rate if at all possible. There are 3 month 4 month 6 month and 12 month short term rate plans out there as a better solution over a no term rate. These shorter term rates are 1 cent kwh cheaper and sometimes more.