It’s that time once again to compare energy companies here in Texas. I have had service from Reliant, Gexa, and TXU Energy. Recently I received a $250 welcome bonus from Reliant and a $150 welcome bonus from TXU Energy but both come with contacts and cancelation fees.
Reliant Energy tells me that they have the cheapest plan that I can still use my welcome bonus of $250 at an average of 10.6 cents p/kw. There will also be a 12 mo commitment and a $3.08 separate Oncor Delivery charge. Most of the Reliant plans contained an Oncor Delivery charge of $3.08.
Reliant’s Cap and Save plan is the newest of their plans where they put y ou in a 12 month contract and then cap out the rate at 8.2 cents based on natural gas prices. If natural gas goes up it will not go above the 8.2 cents but if it goes down it will decrease and save you money. You still have the extra $3.08 charge on this account.
Another 12 month plan which was cheaper but where I would not get my welcome bonus of $250 was the 9.3 cents plan. This would include a surcharge as well. My favorite plan with Reliant was the 7.3 cents per kwh which sounds cheaper than other electric companies in the Dallas area but its only for 6 months and it has a base charge of $5.00 plus a $3.08 Oncor charge. The rep insured me that it will not go over 8 cents per kwh. This could be the cheapest plan available but there will be no welcome bonus payout and there will be no AAdvantage miles with this plan.
TXU Energy gives you a $150 welcome bonus on their 10.8 cents kwh for 2,000 kw used but it will be 11.3 cents based on 1,000 kw. The former monopoly is charging 9.6 cents per kwh on a 6 month plan with no base charge. Furthermore, Their super secure plan is for 12 months at 10.3 cents per kwh. I am not to impressed with the $150 welcome bonus because it is a gift card and who really needs more of those prepaid plastics.
What about early termination fees? With TXU the fee is $200 and with Reliant the early termination fee is an astounding $250 setback. That kind of makes your welcome bonus walk right out the door.