Read the answers to the most common questions that we get
There are many variables to take into consideration when you shop for a new plan, however the most important variables are:
- Plan Term Length – you can lock in a fixed rate that will remain the same for the next 6 month, 12 month, 24 month or more.
- Price per kilowatt – this is ultimately the price you will pay for your usage. Combine that with your average usage per month and you will have a clear idea of how much your average monthly bill is going to be.
Some providers may require a deposit if your credit score is under a certain amount. There are some exceptions to this, for example if you are an active military member or a veteran, or if you are 65+, some providers may waive the deposit requirement, it’s always best to contact them directly to inquire about that.
We also offer No Credit / No Deposit plans. These are typically plans that are prepaid, so you will need to load your account with a balance upfront and will continue adding funds to your account as-you-go.
When you sign up to a fixed rate plan you lock up a certain price for the length of your contact. With a fixed rate energy plan you are protected from fluctuations in energy prices and you know upfront how much you will pay based on your usage.
Variable plans, as the name implies are plans where the rate can change at any time. Some plans change their rate on a monthly basis, while some energy plans can have a daily variable rate. These plans are typically beneficial when you need a short term plan, or when the overall energy prices are low.
A few weeks before your plan ends you should receive an email or phone call from your Retail Electric Provider to notify you that your plan is near the end of its term. They will typically offer you to renew the plan or try to convince you to sign up to a different special “deal” that they have for you. If you take no action by the time the contract ends, your provider will automatically move you to a month-to-month plan that they pick for you, and it normally has a price much higher than the average rate.
Even if their offer sounds good initially, we always encourage our clients to come back and compare this offer with the current plans that we have on our website. Many times you will find that the renewal offer that was given to you is not the best, and you can easily find a better rate at SlashPlan.
Do some electric companies have better availability? I want to have the most reliable energy company.
I want my family to also switch to a better plan, but they live out of state. Can they also choose their electricity company?
Unfortunately, not everyone in the United States is able to choose their own electric provider. This is only available in States or localities which are deregulated. In short, if you live in one of the following states you should be able to choose your own provider (as of 2020):
Arizona, Arkansas, California*, Connecticut, Delaware*, Illinois, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Texas, Virginia, Washington DC
We have a full post that explains this in detail. In short, markets that have deregulated energy are markets where the company that is in charge of generating, transmitting and maintaining the electricity infrastructure is separate from the company that can actually sell the electricity to you, the end client. Due to this structure, many retail electric providers need to compete in order to earn your business, which results in significantly lower prices when compared to markets that are regulated, where you have no choice and you can only go with one company.
No, when you use SlashPlan to sign up for a new service, or to switch from an existing service you do not need to contact your current provider to let them know that you are leaving. The new electricity company that you are enrolling with will handle that for you. You will never need to contact your old provider, so switching you to a new service is seamless and very easy. The whole process takes less than 5 minutes.
The process of finding a new retail electric provider (REP) with the best rates will only take a few minutes on SlashPlan. We do all the hard work for you and allow you to compare the top plans easily. Once you have chosen your plan and completed the enrollment, your new electric company will notify your previous provider and the switch typically takes 1 to 3 business days.
If you do not need to start service immediately, you also have an option at the time of enrollment to select a service start date in the future. During the transition to a new electric provider you will not have any service interruptions, so no need to worry about that.
You probably noticed that most providers charge an early termination fee. If you are moving out of your address before your contract ends, you will not be charged any cancellation fees. The early termination fee only applies in cases where you stay in the same address and decide to switch providers before your contract ends. It is always better to call your provider to double-check, but the law is on your side, and you should not be charged an early termination fee when moving to a new location.
We offer our service completely for free. You will not pay us anything.
Since we connect you with an electricity provider, they may charge a start up or setup fee (which is pretty rare). If a provider charges any such fees they will need to list them under the Electric Facts Label. Please review it carefully before signing up. We have these documents available for every plan on our website.
Please notice that if you switch to a different provider before your contract ends you may be charged an early termination fee. This does not apply if you are moving to a new address, and there are laws that protect you and give you a certain grace period that allows you to switch plans a couple weeks before your current plan ends without paying a penalty. Please double check with your current provider that you will not be charged an early termination fee before switching, you can always email them or call them directly for more information.
Although your current provider may give you a good deal, it’s always a safer bet to come back and check the current plans that we have available. You could easily compare the offer that was given to you with other plans on the market and choose the better between them. Electricity prices change almost daily. Just because you signed up to the best plan a year ago doesn’t necessarily mean that this is still the best plan for you today.
- Maybe other competitors entered the market?
- Maybe your power usage habits have changed?
- Maybe the price that you are paying now is not attractive anymore.
Finding a new plan and signing up only takes a few minutes, and it can end up saving you a significant amount of money. Come back and check our electricity offers at Slash plan when it comes time to renew your current plan, or when you are moving and need to start service in a new address.
This is one of the things that create a lot of confusion among customers, but it is easy to explain. Some providers have additional fees that are added in addition to your usage fees, such as base charges and minimum usage charges. In addition to that, some plans are tiered, and have different prices for different usage levels.
For example, a plan may charge you 10 cents a Kilowatt when you use 1000 kWh or less during a month, but may charge you 12 cents if you go over that.
The best way to know the real price that you are paying right now, which can be different than the advertised price that was presented to you initially, is to contact your current provider, or to pull out your latest bill and divide the amount due by the total kWh (Kilowatt) you had that month.
The plan prices that we list on our comparison page already take all of the charges and discounts into account, so you can be confident that you are getting the true cost that you will actually see when the bill is due, and not an advertised price that will get bigger when all of the additional fees are added on top of it.