What types of energy plans are available?
There are several types of plans and rate structure you may find while searching for an electricity plan. The most common options include fixed rate and variable rate plans.
- Fixed rate. With a fixed rate plan, you will pay a set rate for the electricity you consume each month. This rate will be set in your contract and will not fluctuate regardless of changes in the energy market.
- Variable rate. With a variable rate plan, the rate you pay for electricity will change based on fluctuations in the market. This means you could pay a lower rate when demand is low but may see higher rates when the energy supply runs low.
There are also various kinds of rate structures within these plan types. Not all fixed rate plans are the same, just as variable rate plans differ from plan to plan. For a deeper dive into plan types and how to choose between them all, see our guide.
Does Choose Energy run a credit check?
Yes. Credit checks are a normal part of the energy buying process. Most providers require a credit check before they will begin service. If you want to avoid a credit check, prepaid electricity plans may be a good option, although rates may be more expensive.
Will I need to pay a deposit?
It’s possible. Each provider assesses deposits based on your credit score. Customers who pass a certain credit threshold set by the provider may not be required to pay a deposit. When you select a plan, we’ll notify you if a deposit is needed to begin service. If you’re interested in a no-deposit option, prepaid plans are a popular choice. See our deposits page for more information.
What if I am moving?
When you move, you can choose to take your electricity service with you to your new home or switch to a different provider without being charged an early termination fee. If you choose to switch, you can shop for a new provider up to 90 days before your moving date. Most homes have smart meters installed, so you won’t need to schedule a technician visit. Learn more on our moving page.
What do I do if I want to switch providers?
Switching to a different provider is easier than it may seem. Before you switch, it’s important to check if you will be charged an early termination fee, which is common for fixed rate plans. Variable rate plans typically allow customers to switch at any time without a termination fee. If your plan is about to end, you can switch to a new provider up to 14 days before the end of your contract without being charged a fee. For more information, see our guide to switching.