Sometimes people knock on my door or stop me around town asking if I want to save money on my utility bill. These programs work by locking in a rate per metric unit of gas. If gas prices go high, I can save money. If they fall, I would lose money. I am new to Ohio so I am curious: are these programs a good deal? Or is there a 50-50 chance I will pay too much for my utilities as long as I am locked in after I sign up?
My take on this is that their main goal is to get some money from anyone they can whether the price goes up or down.
Many local governments work out a deal for their citizens. I can't remember what it's called when they do it but I'm pretty sure those people knocking at your door will try to say how much better a deal they have for you.
The other thing to be careful of - If you are already in a contract and you try to change there may be an outrageous cancellation fee on the original contract to switch to the new company. The cancellation fee would wipe out any savings of the new contract.
Go to Dominion Energy for natural gas, or First Energy Corp for electricity, website to get some advise on how to compare pricing.
I live in Youngstown and the city can usually get better rates on gas and electric for the residents than I could get on my own.
QuoteMany local governments work out a deal for their citizens. I can't remember what it's called when they do it
Is aggregation the word?
Be careful with people who want to sell you fixed-rate utilities, door to door, or on the street.
About a year ago, some people knocked on my door, and asked to see a copy of my latest gas bill. I showed them. He said something like: "I see you're paying $2.xx/mcf for your gas. If you switch to our provider, you'd only be paying $0.5x per ccf, a significant savings!" The problem is "ccf" is 100 cubic feet, and "mcf" is 1000 cubic feet.
Quote from: jay on July 23, 2018, 03:37:47 PM
Is aggregation the word?
That might be it, I can't come up with it for some reason.
Aggravation would be the word I have for the other guys. :D