Should You Shop Long Term Electric?
The winter season is undeniably one of the most expensive times of the year. Between heating costs and high electricity rates, it’s no small wonder why your utility bills are so high. That’s why some smart energy shoppers are looking to secure big savings with 15+ month energy plans. Let’s shop for the best long term electric deals in Cleveland.
Compare High PTC Electric Rates
Smart shopping begins by comparing electricity rates with your expected energy usage. For example, the Cleveland Illuminating Company PTC rate is 9.5 cents per kilowatt hour (kWh). Most Ohio homes use an average of 816 kWh per month. This means your average supply charge would be about $77.52 on your monthly bill.
Of course, most homes use more energy during the winter. The polar vortex this winter is bring in particularly chilly temperatures. As a result, high energy usage, especially for natural gas, could lead to higher energy prices, later this winter before PTC rates change in April.
Best Long Term Electric Deals
If you’re looking for the best long-term savings, then check out Clearview Energy. Their Clear Guarantee 24 plan charges 8.8 cents per kWh, which is an average supply charge of about $72. That’s $5 better than the Illuminating Company PTC rates. And as an added bonus, Clearview Energy offers shopping and dining discounts to their customers. Best of all, if you lock in a plan by March, it ends in time shoulder month pricing in 2028.
On the other hand, if you want cleaner energy in your home, then shop Energy Harbor plans. For example, their Safe Harbor Value 15 plan brings carbon-free power to your home for 9.2 cents per kWh. This would give you an average monthly supply charge of $75, that’s $2.52 less than PTC rates.
You might also consider the Energy Harbor Safe Harbor 20 plan. This plan charges 9.3 cents per kWh which equals an average monthly supply charge of about $76. While this is more than the Safe Harbor Value 15 plan, if you lock in by February, the plan expires in 2027’s fall shoulder month.
Why Long Term Plan Deals Save More
Long term electric plans are a great option if you plan to stay in your home for several more years. Because natural gas power plants make most of Ohio’s electricity, these plans also shield you from volatile natural gas prices. They give you predictable pricing that won’t change as often as PTC rates. Best of all, if you plan ahead, your plan will end at the time of year when energy prices usually dip. That way, you can shop around for cheapest rates right when you need to.
You can always start your shopping right here at https://www.ohenergyratings.com. You can also count on us for the news and tips that could affect your bills.