Do Long Term Plans Beat The Price To Compare?
Baffled by your high electricity bill? Toledo Edison’s price to compare is currently sitting at 11.33 cents per kWh. Meanwhile, 24+ month rates are around half that. Now’s a great time to lock in a low priced rate for the long term! So, to help you save more money, we’re going to look at the best long term electric plans in Toledo, and find you the perfect deal.
Long Term Rate versus Toledo Edison Rate
Signing up for a rate that lasts two years or more can be intimidating. It’s difficult to predict the market that far in advance. It’s also difficult to predict what your life will do. But the main benefit to a long term rate is that your price is locked in. That means, regardless of what the market does, your rate remains the same. So, should there be any other dramatic Toledo Edison price hikes like there were earlier this year, your bills won’t increase.
The Cheapest 24 Month Plan On The Market
Our first suggested plan is from Energy Harbor. Their Safe Harbor 24 plan is only 6.78 cents per kWh. That’s a little more than half of the PTC. Additionally, there is no early termination fee. This removes one of the biggest worries about long term plans. When rates drop, you can easily switch to a lower rate at no extra cost. However, while some Energy Harbor plans offer rewards, this particular one does not.
An Alternative 24 Month Plan
The next plan is from APG&E. While this isn’t the cheapest plan, it’s still a good deal against the PTC. Their TrueSimple 24 plan is priced at 7.32 cents per kWh. The biggest downside to this plan is the early termination fee of $200. That can be a considerable amount of money if rates decrease and you want to look for another plan. Additionally, while APG&E has had rewards programs in the past, currently there are no rewards from APG&E.
An Uncommon Length Of Time
Usually we see longer plans go for 36 months, but not this last one from Energy Harbor. Breaking the conventional mold, their SafeHarbor 32 plan comes in at 6.89 cents per kWh. Like it’s counterpart, there’s no early termination fee. Two years and 8 months is definitely an unconventional length of time, but if you switched now, you wouldn’t have to think about your electricity plan until Spring 2026. That lands you perfectly for snagging a lower rate in the spring shoulder months.
Use Long Term Rates To Your Benefit
Locking in a long term rate doesn’t have to be a huge scary commitment. Many plans do not have an early termination fee, making them just as flexible as shorter term plans. The fixed rate also makes them more stable than hoping your bills stay the same month to month. If you’re struggling with high bills right now, take the time to shop around. There are lots of fantastic rates across Ohio. You can check them all out at www.ohenergyratings.com