The Importance of Keeping Up with the Details
Everyone has a list of critical personal information that we’ve committed to memory. Important items like phone numbers, social security number, and the kid’s birthdays. We remember them because they are so important to your daily life, but what about your electricity plan end date?
Yes, you heard us correctly. Your electricity plan end date.
The reason is very simple. Electricity suppliers are in love with something called holdover rates. These rates are those that the supplier hits you with if you fail to remember to pick another plan when your current plan ends. These rates are typically variable in nature (i.e. not fixed) and are often set at a much higher level than your previous rate, which means your monthly bills are likely going to increase significantly.
If you are not paying close attention, you can get a very unpleasant surprise when you open your first holdover rate bill. It can cost you hundreds of dollars in the first month alone. And if you are like most and on autopay and not watching your electric bill closely, it can cost you thousands if you let the holdover rate ride for a year.
And guess what – that happens all the time!
Let Power Wizard Manage Your Electricity Contract
So our advice is to know your end date, or hand it over to Power Wizard.
Power Wizard uses its proprietary data science and technology to review hundreds of plans in the market, stacked up against your unique energy usage profile. Whether you’re in a contract, or your contract is close to ending, Power Wizard will find you that plan, manage the transition from your old energy provider to your new, and continue to monitor the market to ensure you never overpay for electricity.
And of course! Power Wizard keeps track of your contract end date, and switches you over, with your permission, if we find you a better plan.
Oh – I forgot to mention. Add your anniversary date to that list of critical personal information. That one will pay big dividends also!
More From the Power Wizard Blog
-
Affordable Electric Bill: Power Wizard’s Promise of Protection
Sarah, a proud Texan, knows that everything is bigger in Texas – including the choices when it comes to electricity providers. She’s no stranger to the complexities of deregulated energy markets. With a bustling household, she juggles work, family, and keeping the lights on. But there’s one thing Sarah doesn’t want to juggle: her electric bill. […]
View Article -
How to Cancel Your Electricity Contract with Your Provider
There are many advantages to changing your electrical service, including finding a better price, switching to a company with better customer service, and finding a distributor with a green appeal. It’s easiest to end your service when a contract ends, but sometimes it makes sense to switch early. For instance, you may find that you’re […]
View Article -
How to clean your solar panels
Click on a section to skip directly to it: Why is it important to clean your solar panels?Solar panel cleaning: a step-by-step breakdownMake sure you’re saving the most on your monthly energy bill Have you considered installing a renewable energy source at your home? Power Wizard recommends trying solar energy, which accounts for 3% of […]
View Article -
Incentive-Based Energy Plans: What Are Your Options?
Incentive-based energy plans are becoming critically important as war, sanctions, and declining fossil fuel production cause nonrenewable energy prices to skyrocket. Fortunately, private companies are busy developing energy-efficient technologies while all levels of government are offering substantial financial incentives for consumers to adopt renewable energy sources. Let’s examine the many federal, Texas, and local energy […]
View Article -
How Long Do Solar Panels Last?
Owning a home is expensive, and that’s not expected to change anytime soon. On top of everything else, the cost of energy can be a burden for many familiar and even more so when temperatures reach extreme highs and lows. Whether you’re well-off or living paycheck to paycheck, you’re probably interested in lowering your energy […]
View Article -
How Time of Use Energy Plans Work
Once, one company controlled all aspects of your electricity. Whether you liked it or not, you had to agree with the charges of that company and pay the bills. Those days are over, as you can now choose an electricity provider within a deregulated market and pick the best rates for yourself. You even have […]
View Article -
How to Set Up Electricity in an Apartment
Click on a section to skip directly to it: 7 Steps to Help You Set Up Electricity When Moving to a New Apartment BuildingHow Long Does it Take to Set Up Electricity When You Move?Avoid a High Monthly Cost by Choosing the Best Energy Plan Moving to a new apartment can be equal parts exciting […]
View Article -
How to Understand Your Texas Power Bill
When your Texas power bill arrives, what do you do? Many people only look at the amount due and pay it without a second thought (unless they notice that the total is significantly higher than the month before). Understanding your electricity bill and the charges on your bill can save you from overpaying for electricity. Don’t […]
View Article
