# Pennywise Power $0.053/kWh...thoughts?



## jeffscout (Jun 22, 2004)

It's that time again for me to renew/review my retail electric provider choices. I've been with Champion (and been happy with them) for 3 years. I looked this morning on powertochoose.org and they are no longer the winner when it comes to pricing. They are coming in a $0.102/kWh and there are several at $0.092/kWh. I was curious to check the variable rate offers due to the very low cost of natural gas right now. I found Pennywise Power has a $0.053/kWh rate that is variable every month. They show a history of monthly rates (https://www.pennywisepower.com/historicalpricing.jsp?language_code=EN) and the highest they've been since last November is $0.072/kWh.

Anybody using them? Good/bad? Any others companies (or promotional codes) to look at? I'm interested in the $0.053...that would cut my bill in half!


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## bg (May 21, 2004)

I've got them for the house and the shop. Only complaint is that they will not take checks at all, credit card only, and if you need to call and don't remember which credit card you gave them, they won't tell you. Otherwise, it's like any other provider, I flip the switch and the light comes on.


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## jeffscout (Jun 22, 2004)

Do they do auto billing so I don't have to remember to pay it every month?


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## Bozo (Jun 16, 2004)

Make sure that you understand what you are comparing price wise when comparing to other offers.

If you read the facts label of this plan, it says that 5.3 is for the energy price. This price does not include the fuel factor charge that at the time of print is an additional 3.2 cents. It also has a 9.95 base charge as well as a 7.21 pass through charge. 

For a total cost of 8.52 per k/w at 1000 k/w.

That still is not a bad price, but make sure you are comparing apples to apples. Not all companies list the price they charge the same on power to choose. They all quote the price in a different way.


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## waterwolf (Mar 6, 2005)

I have 6.9 with reliant now(6 month contract) and it goes out in June. I will be looking also. I have been with Reliant from the start. It's sad you have to go through all the b.s to get a good deal ,they have to review your account and then give you to another dept who makes the deal with you? They had to see if i was a (high use customer) and paid on time. Auto withdraw would be the way to go. Before the 6.9 rate I had 10.5 from Reliant. Would like a 8 and I would lock in for 2 yrs...


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## jeffscout (Jun 22, 2004)

Bozo said:


> Make sure that you understand what you are comparing price wise when comparing to other offers.
> 
> If you read the facts label of this plan, it says that 5.3 is for the energy price. This price does not include the fuel factor charge that at the time of print is an additional 3.2 cents. It also has a 9.95 base charge as well as a 7.21 pass through charge.
> 
> ...


That's not how I'm reading it here: http://www.pennywisepower.com/files/P1F3MEw.pdf looks like 5.3 is average at 1000kWh and it actually drops after that (due to the other charges have less impact on the average rate). If it's that low at 2000 kWh, I'm gonna have to take a hard look!

I was paying the $9.95 monthly fee with Champion. They no longer charge it but moved their rates up a little to make up for it.


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## Bozo (Jun 16, 2004)

You are right. I misread it. 5.3 seems to be inclusive of the charges according to the fact label. 

Seems too good to be true to last very long. I'm just being a skeptic though. 

Go for it.


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## carryyourbooks (Feb 13, 2009)

you have to read all the details when you switch. one provider we had charged a different rate in the summer vs. the winter month. another charged more after 1000 kwh. we never use less than 1000 kwh, so the we always were charged the increase. be careful. read everything.


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## Reel-tor (May 21, 2004)

The confusion is part of their marketing. The more confusion=more profit for them. If it were clear, there would be more competition but they don't want competition. Besides, the Texas market is not competitive at all since it fixes electricity prices based on natural gas prices. If provider uses coal, that's cheaper and makes their profit margin bigger. The whole Texas de-reg was designed to generate more profits for providers/marketers and to screw customers.


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## bg (May 21, 2004)

jeffscout said:


> Do they do auto billing so I don't have to remember to pay it every month?


Yes, auto bill is the only way they do it, one of the reasons their cost is lower.


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## fangard (Apr 18, 2008)

I don't know. The way I read it, the 3.2 is in addition. May be wrong, but it is designated as a pass thru at no additional mark up.

_TDSP Pass Thru Charges: $7.21 per month and 3.2_


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## Bayman (Oct 18, 2004)

I've been with Gexa for several years. They roll all the taxes, etc into the cent/KW so you know exactly what your paying. You can take your bill and divide it by the number of KW and that is the rate you signed up at. Mine is 9.7/KW right now. You can also have balanced billing. I pay with Paypal, but you can write a check, credit card, or have it drafted from your account.


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## shottel (Jul 6, 2011)

Jeffscout, did you move to Pennywise and how has it been going? Did your rate stay in the general area after month 1? I'm about to switch and roll the dice on a month/month plan


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## jeffscout (Jun 22, 2004)

I have moved two accounts to Pennywise. I have only had partial months billed on both. The one invoice I can find had 335 kWh and the bill was $18.06...

I should be getting full month bills in the next week or so, but so far so good. Current rate on their website is the same rate I signed up with.


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## Barbarian (Feb 12, 2009)

i switched to pennywise about 3 weeks ago so i should be getting my first bill in the next couple of weeks. i asked them multiple times about that additional 3.2 cents and they guaranteed me the total rate was 5. something. it is variable and i am expecting it to increase, but i figured it was almost 1/2 of everything else and i figure i'll pocket $200 +/- per month. it is month to month so i can switch if they get stupid. just have to watch it close and i am willing to do so for the chance to cut my bill in 1/2 during the peak months. i am coming from 9.5.


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## Topcat (May 21, 2004)

*Any experience with Pennywise Power "Wisebuy Monthly" plan?*

I signed up with Pennywise Power in June with a rate of 5.4 cents per kilowatt based on 1000 watts used. I have been trying to get a straight answer out of them ever since about what the rate will change to after my first billing period.

They have a chart posted that shows what it has been in the past:
https://www.pennywisepower.com/historicalpricing.jsp?language_code=EN
This looks like the price has come down. HOWEVER, when I spoke to one rep on the phone he stated that this chart is for the PROMOTIONAL price for the 1st month when you sign up. NOWHERE on the website, or on powertochoose.org web site does it mention "promotional" pricing!

I received this in response to an email asking what the price was that day, July 7:
***
Thank you for contacting Pennywise Power. 

The price on our Wisebuy Monthly is currently at $0.094/kWh based on 1000kWh. The price on the Wisebuy Monthly will vary month to month versus day to day.
***
That is no where close to what they are advertising!

My question to you is "What price have you been paying this year after the first billing period on the Wisebuy Monthly Plan?"

I know they have other plans, but I only wish to know about this one, thanks!


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## InfamousJ (May 21, 2004)

yea, I bet that 5 variable turns to 10 and 11 in no time... you'll get that one high bill and then have to find a lower provider.. viscious circle.. get a 6 or 12 month contract and forget about it... price we pay for luxuries of electricity


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## jeffscout (Jun 22, 2004)

UPDATE...

Just got my first full month bill for our primary residence under Pennywise Power. I'm THRILLED. Hopefully they stay like this. Hottest June on record for Houston area and I have BY FAR the lowest summer power bill I've ever had. Here's the breakdown:

kWh used: 3692
Total Bill, after tax, tags, license, PUC fees, blah, blah, blah (drive out price): $187.35
$/kWh: $0.051

I found a copy of my last year's bill (under 12 month fixed price contract with Champion) for the similar period of 6/8/10-7/8/10:

kWh used: 3947
Total Bill: $387.90
$/kWh: $0.098

I'll keep my eye on 'em, but so far, I'm darn near making money at this point!

Jeff


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## carryyourbooks (Feb 13, 2009)

jeffscout said:


> UPDATE...
> 
> Just got my first full month bill for our primary residence under Pennywise Power. I'm THRILLED. Hopefully they stay like this. Hottest June on record for Houston area and I have BY FAR the lowest summer power bill I've ever had. Here's the breakdown:
> 
> ...


please post up what the rate is next month if you don't mind.


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## live2fish247 (Jul 31, 2007)

I signed up with Reliant 3 months ago at 5.3. Simce the first month its actually gone down to 5.0. I know Im pressing my luck but Im gonna let it go another month and see what happens. Everybody else that I've used has gone up on the second month. My highest bill this summer has been $133.57. I figure they'll hit me with 8 or 9 this month.

Sent from my SCH-I510 using Tapatalk


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## tbone2374 (Feb 27, 2010)

Good info guys.


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## shottel (Jul 6, 2011)

so i just called Pennywise and the guy said:
-5.3 is a promotional rate and is good for one month only. It is promoted on the website for new customers only. It goes up significantly on month 2. I asked him if i had signed up for the promotional rate in June which was 5.3 what would it be in July?: *9.9*
-i asked about the historical rates page and he said those were supposed to be the promotional rates but wasn't sure why June for centerpoint show 6.Xc vs 5.3 but was going to report it (i'm sure).
-so he said the play is to sign up for the 5.3 promotional rate and sign a contract for 8.X c at the end of the month.

so sounds like the good deal is about one month only......


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## jeffscout (Jun 22, 2004)

I'll be sure to post up next month's numbers to this post...good or bad!


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## ShadMan (May 21, 2004)

Bayman said:


> I've been with Gexa for several years. They roll all the taxes, etc into the cent/KW so you know exactly what your paying. You can take your bill and divide it by the number of KW and that is the rate you signed up at. Mine is 9.7/KW right now. You can also have balanced billing. I pay with Paypal, but you can write a check, credit card, or have it drafted from your account.


Like Bayman said, Gexa gives you an honest, complete amount up-front. However, the reason they are able to offer all the services they do at their low price level is that they are strict on credit. They have almost zero bad debt due to stringent credit requirements. Smart business = lower prices + better service .


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## Drundel (Feb 6, 2006)

Time for my renewal too. I'm with StarTex and happy at .09, but the best they can give me now is .105. Powertochoose shows me Texas Power 12 month fixed at 8.4. 

Anyone use them?


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## Bubba T. (May 27, 2004)

*renewing soon*

im with startex also at .98, good info, thanx


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## shottel (Jul 6, 2011)

dumped startex after about 4 years of service for pennywise today. the spreadsheet don't lie.....over a year i will save about 200$ over startex's offer (and about 5 others i plugged in). will do the 5.3c for August and then probably move to the 8.8/12 offer next month

i checked Gexa and even with a friends/family discount code they were still mid 9s for my zip.


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## therealspeckcatcher (Mar 7, 2006)

I switched to pennywise for august and if it goes up too much after that i'll switch again. I was with TXU for several years on their market edge program which the price per kw hour fluctuated every month with the market price of natural gas which was good when it was high and started going down each month because my bill dropped before anyone elses but since its been pretty steady lately its higher than the others at about 11.4c.


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## agonzales1981 (Jun 12, 2008)

I just signed up for pennywise, gonna do the 5.3 first month then switch to the 8.6 12 month fixed.


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## DuckMendenhall (Nov 5, 2007)

I went with Stream Energy for 10.2, it is probably maybe .5-1 cent to high, but I have locked in the rate for a year. I do not like variable rate plans...I have been burned before...


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## jeffscout (Jun 22, 2004)

I've only been burned when I let a fixed contract lapse with Gexa and they went up 50% on me. I won't switch from Pennywise until they reach the fixed contract rates.

Here's my full bill for my bay house:

Power Used: 1242 kWh
Total Bill with all the add on's: $68.02
Avg $/kWh: $0.0548

Quite pleased yet again!


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## shottel (Jul 6, 2011)

Jeffscout, let me know what your second full bills are per KWh. if they stick in the 5c range then i may roll the dice myself and not sign a contract after my first month.


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## ad1315 (Mar 21, 2011)

You also have to remember that power to choose is a business and they have to make money as well. They are adding anywhere from .0005 to a whole penny. Calling a company direct could be your best bet and tell them to beat the price that is shown on power to choose. If that company has a sales force they will do anything they can to lower the rate.


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## DeerSlayerToo (Aug 4, 2010)

Had Startex for @ 4 years and then locked in with Brilliant energy for .88 (now .90)and love them.Startex wanted .97


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## therealspeckcatcher (Mar 7, 2006)

shottel said:


> dumped startex after about 4 years of service for pennywise today. the spreadsheet don't lie.....over a year i will save about 200$ over startex's offer (and about 5 others i plugged in). will do the 5.3c for August and then probably move to the 8.8/12 offer next month
> 
> i checked Gexa and even with a friends/family discount code they were still mid 9s for my zip.


too late now the 12 month plan is 9.1.


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## therealspeckcatcher (Mar 7, 2006)

Has anybody got their second bill from pennywise yet?


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## jeffscout (Jun 22, 2004)

I should get one in about 10 days and will post it up...good or bad!


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## Barbarian (Feb 12, 2009)

therealspeckcatcher said:


> Has anybody got their second bill from pennywise yet?


My second bill is also due in 10-15 days. They assured me over the phone that the rate should not change. We will see though.


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## gp2394 (Jul 1, 2008)

Thank y'all for this thread. When I first saw it I decided to switch. I went to power to choose and reliant was the lowest. So I suspiciously called. Well, turned out great. It took 1 hour & 17 minutes and talked to 5 different people. Here is bill comparison:

6/2 - 7/1
base $ 5.00
energy 2178 @ .14 $304.92
transmission $ 5.85
tax $ 3.16
$318.93

7/1 - 8/3
base $ 0.00
energy 2193 @ .014 $ 30.70
transmission $ 76.90
tax $ 1.08
$ 108.68

switched the bay house as well, haven't gotten bill yet


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## jeffscout (Jun 22, 2004)

Here's the scoop. My bill made it to me today, sooner than I expected. It looks like the good fortune of introductory rates is over...

Total kWh used: 4035
Total bill, all taxes and fees included: $490.00
$/kWh: $0.121

I have sent them an email asking for clarification and rate basis. If their answer is unsatisfactory to me, I will fire them and move to another company. As others suspected, the low intro rate is likely a ploy to get you to sign on for a fixed contract price. I sure wish these companies would allow us to actually play the market instead of screwing you if you go variable. The market prices for power, even in this heat, is unbelievably low on a daily, weekly, and monthly average. There have been some huge spikes in rate over the last week or two due to the heat and some unplanned plant outages that dropped generating capacity, but if you average them out over the month, the price is pretty consistently low.


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## InfamousJ (May 21, 2004)

LMAO.. but I do feel bad for yall. They sucked you right in.

I just extended with amigo for 8.7cents


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## jeffscout (Jun 22, 2004)

It does p me off, but if I average out my last two bills, I'm way ahead of where I was with Champion. I just wish I could find a variable plan that let's you roll the dice and it fluctuates with true market price, not MARKETING price!


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## speckle-catcher (May 20, 2004)

start your own electric company.


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## reeltimer (Feb 5, 2010)

jeffscout said:


> It does p me off, but if I average out my last two bills, I'm way ahead of where I was with Champion. I just wish I could find a variable plan that let's you roll the dice and it fluctuates with true market price, not MARKETING price!


It's much better to lock in a rate right now.PM Muddskipper and end the madness.Man looking at that bill with 4 big ones in it bring's it all back.In 08 i had one that went from 12 to 24 a kw.Break the seesaw.


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## jeffscout (Jun 22, 2004)

speckle-catcher said:


> start your own electric company.


The thought has crossed my mind...


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## speckle-catcher (May 20, 2004)

I'd sign up if you did.

no stupid promo offers like the one I got from TXU the other day...$75 gift card and $125 credit to buy "energy related goods" in their online store.

just electricity...that all I want.


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## jeffscout (Jun 22, 2004)

reeltimer said:


> It's much better to lock in a rate right now.PM Muddskipper and end the madness.Man looking at that bill with 4 big ones in it bring's it all back.In 08 i had one that went from 12 to 24 a kw.Break the seesaw.


Had some that started with 6 years ago when my A/C went nuts in July/August!

Who is mudskipper with?


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## jeffscout (Jun 22, 2004)

speckle-catcher said:


> I'd sign up if you did.
> 
> no stupid promo offers like the one I got from TXU the other day...$75 gift card and $125 credit to buy "energy related goods" in their online store.
> 
> just electricity...that all I want.


Maybe you could be my first customer, after me of course!


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## chaco (Dec 24, 2010)

Plenty of people here that are not happy with Pennywise
http://www.texaselectricityratings.com/review/index2.php?item_id=53

I have been with Gexa for two years, and just re-upped to lock in for 3 more years. I do not believe gas prices will always be low. Thus I think market rates for power will go up. I might be wrong. But with a locked rate and balanced billing, I don't have to think about getting a big-bill surprise, and that works great for me.

What I am very unhappy with is the City of Houston water costs, and there is really nothing to be done about finding a different supplier. I still can't believe people voted to pass that new tax added to the water bills to support local construction companies that promoted the referendum.

~


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## Sharkzilla (Feb 15, 2009)

I've been getting approx. .05/kwh from Reliant basic power flex plan for the last 3 months(just in time too!)...even had a few sales calls/ knocks and they're like "really?!" its variable but there's no contract and no cancellation fee.


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## live2fish247 (Jul 31, 2007)

Sharkzilla said:


> I've been getting approx. .05/kwh from Reliant basic power flex plan for the last 3 months(just in time too!)...even had a few sales calls/ knocks and they're like "really?!" its variable but there's no contract and no cancellation fee.


I keep expecting them to go up but they've been .05/kwh for 4 months now. Very surprised and very pleased. This has been my cheapest summer that I can remember. Just glad I signed up when I did.

Sent from my SCH-I510 using Tapatalk


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## KingTut (May 19, 2005)

jeffscout said:


> Here's the scoop. My bill made it to me today, sooner than I expected. It looks like the good fortune of introductory rates is over...
> 
> Total kWh used: 4035
> Total bill, all taxes and fees included: $490.00
> ...


So the party is over then. Sorry to hear it but sadly enough, the fact is nine to eleven cents per kwh is about the average rate in Texas. Any variance from that is usually a temporary promotion and riddled with trickery. One way providers make up for the lower rates is to jack-up rates on services. Say a tree takes out your meter loop-rips it off the side of your house. How much is a temp disconnect? What if the underground drop running from the transformer to your house goes bad? What is the monthly charge for a temporary bypass cord? Some of these shady providers charge fees like batteries after a hurrican and make up for the lower rates they collect each month. And what if you alow them into your credit card bed? Will they dip in the till a few more months before they exit? Many of them do and apologise afterwards, only to reemburse months down the road. And don't expect the PUC to police them. The PUC makes money from them also.


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## therealspeckcatcher (Mar 7, 2006)

chaco said:


> Plenty of people here that are not happy with Pennywise
> http://www.texaselectricityratings.com/review/index2.php?item_id=53
> 
> I have been with Gexa for two years, and just re-upped to lock in for 3 more years. I do not believe gas prices will always be low. Thus I think market rates for power will go up. I might be wrong. But with a locked rate and balanced billing, I don't have to think about getting a big-bill surprise, and that works great for me.
> ...


Actually their rating of 1.68 is about on par with every one elses ratings.


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## chaco (Dec 24, 2010)

therealspeckcatcher said:


> Actually their rating of 1.68 is about on par with every one elses ratings.


I had not really considered the consumer rating given Pennywise, or any other supplier, as a solid indicator. I believe that more people get on the web to complain than do to compliment, so ratings can be misleading.

However, when almost all the written comments are about how the price jumps up after the short introductory period, then i think it probably really is happening that way. Just my thoughts, and certainly it sounds like a fella could get a low cost month or two out of the deal if they wanted to mess with it all.

It is also good to read that Reliant is getting into the game competition. When I first switched away from them, they had no rates that were even close to competitive. Their plan rate was in the range of 15 cents when many other options were in the range of 10 cents. At that time, the level of arrogance and lack of interest in my business on their part drove me away, and I have no reason at all to go back to them now.

~


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## Topcat (May 21, 2004)

*That's what I thought would happen...*



jeffscout said:


> Here's the scoop. My bill made it to me today, sooner than I expected. It looks like the good fortune of introductory rates is over...
> 
> Total kWh used: 4035
> Total bill, all taxes and fees included: $490.00
> ...


That is Exactly what I thought would happen, they would switch you over to the completely hidden monthly rate. And since I was so sure of it, I went ahead and signed up for their fixed rate of .088 for 12 months. All the other companies were raising rates every week in July so I figured it was time to lock in a decent rate. Oh well, that .055 for at least one month cut my bill in half from what I would have expected from my last supplier!

This page is a complete fraud:
https://www.pennywisepower.com/historicalpricing.jsp
It looks like it shows you the price they have been charging for the monthly plan, right? WRONG! Those are the Promo prices, not the rate they have actually been charging every month! I called them 4-5 times trying to ask the question that would get me the real price, and I never could get them to tell me what it was, only this PROMO price page.

I am astounded to read that Reliant is staying at the 5.5 rate for so many months! I would have expected them to be playing the bait and switch routine as well! I sure would like to have done that one for the summer. Anyone that IS on that plan, be sure to keep up with the price of natural gas. When/if is starts to go up it will be time to shop for a fixed rate plan. One easy place to view prices of oil, gasoline, diesel, natural gas is Barchart.com. This url will show you the futures for Energy:
http://www.barchart.com/commodityfutures/Energies


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## troutredfish (Apr 18, 2005)

I was on a 6 month contract with Reliant for 7.2 I just got on there month to month plan for 5.4 I hope it stays on that thru sommer


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## shottel (Jul 6, 2011)

Got my first partial bill from PW. 4.9c/kwh for 900kw...nice. I will call to verify when the intro rate runs out exactly and plan a switch to Reliant Basic Power Flex since some of you guys a seeing reccuring 5cent/kwh bills. Funny when going to Reliants site directly and putting in my zip (77433) this plan isn't available. Going via powertochoose opens it up though.


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## danny.abair (Jun 3, 2015)

I am an energy consultant. Please realize that Variable means that it will change monthly.. they give you a good low rate starting 1st month and then after that it will change based on market rate. Variable isn't always good to stay in with a volatile market. Pennywise and Bounce both will lower costs if on autopay because they know you are a consistent customer that payment is guaranteed. www.powertochoose.org is a good way to look at rates. HOWEVER, look at the fact sheets because suppliers change rate even if in a fixed contract based on usage. Example: if you use 1500 kwh mo it will be one rate vs. if you use 2000 kwh a mo it will be another. Also, look at fact sheet for the monthly base charge - it changes as well based on amount of usage used each month. It is getting tricky for average customer to do apples to apples on pricing.


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