Understanding the Different Types of Electricity Plans & What They Mean

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As an energy provider committed to delivering transparent and affordable service to our customers, OnPoint Energy is proud to provide a variety of electricity plans to suit each customer’s specific needs. However, with so many options out there, choosing the right plan can be overwhelming. If you’re confused about the different types of electricity plans and which one is right for you, then you’ve come to the right place.

Electricity may be essential for modern living, but if you want to save money while getting a great service, it’s important to choose the right plan for your needs.

Fixed-rate, Variable-rate and Time-of-use Plans

Fixed-rate plans provide a consistent and reliable energy rate throughout the entire contract period. By choosing OnPoint Energy, customers can select fixed-rate plans with varying contract lengths, such as 12, 24, or 36 months, based on individual needs and preferences. This type of plan is perfect for those who value financial stability and wish to budget their expenses effectively without being affected by fluctuating energy rates. Fixed-rate plans offer peace of mind, knowing that your energy costs will remain predictable regardless of your usage and market changes.

Variable-rate plans feature rates that are subject to change with market conditions, offering flexibility and potential cost savings when market prices are low. This option is suitable for customers who embrace risk and are willing to adapt to market fluctuations. While variable-rate plans can lead to lower energy costs during favorable market periods, it's crucial to remember that rates can increase when market conditions shift. For the adventurous consumer that’s willing to take the risk, this plan can provide opportunities for significant savings.

Time-of-use plans present varying rates depending on the time of day and the day of the week, with lower rates during off-peak hours. This energy plan is well-suited for customers who have the ability to adjust their energy consumption habits to take advantage of off-peak pricing. By shifting high-energy activities to off-peak hours, customers can maximize their savings and make the most of the time-based rates. This plan encourages energy efficiency and can lead to considerable cost reductions for those who can adapt their usage patterns accordingly.

At OnPoint Energy, we strive to offer customers a peace of mind with fixed-rate plans that provide stability at great prices.

Choosing the Right Plan for You

At OnPoint Energy, we recognize that residential and small business customers have different needs when it comes to electricity plans. Our fixed-rate residential plans are ideal for families and individuals who want predictable rates and easy budgeting.

Small businesses, on the other hand, may need more flexible plans to accommodate their changing energy needs. Although we currently only offer residential plans, we are actively working on creating some great offers and competitive rates for small businesses. Sign up here to be notified when they are available.

One size doesn’t fit all when it comes to residential energy plans. That’s why we offer a variety of options in our fixed-rate plans to suit your specific needs. While it may seem overwhelming to choose from several plans, a range of options is in your best interests. A renter will have different needs than a homeowner, for example. Our different plan options give you the ability to select a plan that fits your lifestyle, budget and energy needs. Our goal is to ensure that you have the power to choose a plan that works for you. We are constantly adding new plans and features. To compare the current plans and find out more about the OnPoint Energy difference, click here.

Making the Most of Your Electricity Plan

At OnPoint Energy, we want to help you make the most of your electricity plan. Here are some strategies to save money and power:

Monitor your energy usage – Track your energy usage to identify areas where you can reduce your consumption.

Use energy-efficient appliances – Upgrade your appliances to energy-efficient models to save energy and money in the long run.

Consider a smart thermostat – A smart thermostat can help you save energy by automatically adjusting the temperature based on your preferences and schedule.

Find even more tips in our blog section including 6 Easy Ways to Save Money Around Your Home Right Now.

Solar and Wind Power Alternatives

Investing in solar or wind energy can be an excellent way to reduce your carbon footprint and support renewable energy sources. Both options provide clean energy that doesn’t produce harmful emissions or contribute to climate change.

However, it’s important to note that installing solar or wind energy systems can be expensive upfront, and it may take several years to see a return on your investment. If you’re interested in pursuing green energy options, be sure to do extensive research and consider all the positive and negative factors before making your decision. Many of these alternatives can be combined with conventional electricity plans, so you can do your part for the environment while still having reliable power.

Find the Perfect Plan With OnPoint Energy

At OnPoint Energy, we’re dedicated to offering dependable and cost-effective electricity service to our customers. By combining our exceptional energy plans with our commitment to customer service, you’ll have the opportunity to save a significant amount on a reliable and transparent  energy plan, giving you peace of mind while maintaining the ability to generate substantial savings.

Unsure which of our plans will be the perfect fit for you? Get in touch with our OnPoint Energy experts today!

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