Should I Shop Short Term Electricity Contracts?
This summer is shaping up to be a hot one. Electricity rates are rising slightly with the season, meaning long-term plans aren’t offering the great electric rates you’d long-term want. And the risk of summer price spikes mean you absolutely shouldn’t get a stop-gap variable rate plan to tide you over ‘til the shoulder months. So does this mean you’re forced to lock in your long-term plan on pricey summer rates?
Of course not! The winning strategy here is to wait out costly and spike-prone summer/winter seasons on one of the fixed short term electricity rates. Luckily for PSE&G customers in Elizabeth, this bracket is currently offering the cheapest rates of the bunch. Let’s take a look at which 3-6 month plans could ultimately wrangle you that bargain, long-term contract.
Best Short Term Electricity Plans in Elizabeth
First up we have the TrueSimple 6 plan from APG&E. At 16.79 cents per kWh, the 6-month plan’s rate isn’t the cheapest. Moreover, it’s the only plan that charges a monthly fee: $1.99. Add to that the pricey $100 early termination fee, and it becomes clear that you should keep shopping.
The second 6-monther in our list is NRG’s Electric Choice Plan 6 Month. At 16.2 cents per kWh, it again isn’t best on price. However, there’s no monthly charge, and early termination is just $60. We’re getting closer, but you can do better still!
It starts to get interesting with NRG’s Electric Choice Plan 3 Month. At 12.5 cents per kWh, it’s a real step-down in price – and the cheapest of the short term electricity rates. Plus, there’s no monthly charge or early termination fee. This means it’s a real bargain, and will set you down in the fall shoulder months when those cheap long-term rates typically emerge.
Most strategic of all, however, may prove to be the NJ Frontier Online Premier 6 plan from Frontier Utilities. The 12.79 cents per kWh rate is a slight increase from NRG’s 3 month plan, but it’s still great value. Again, there’s no monthly charge or early termination fee. What’s perhaps more useful is the longer 6-month term length. This is because it gives you options. You can, as above, bail on it for a cheap long-term rate come fall, or you can hold out over winter in case you don’t find what you’re looking for – or are simply enjoying the low rate!
Lock in Short Term Electricity Rates Now
So, in summary: the cheap short term electricity rates in Elizabeth right now are a great stepping-stone to cheap long-term rates. If you lock in one of these plans now, you can be sure of bargain bills until your dream long-term deal comes along in fall or spring. Plus, to shave off extra dollars over summer, keep your home energy usage low – install blinds or curtains to cool rooms, and maintain those AC units. And remember, you can always shop short term electricity rates in Elizabeth at www.NJenergyratings.com. Plus, we’ll alert you when those juicy long-term rates arrive!