Quote:
Originally Posted by WideReceiver
In-laws are on a fixed electricity rate with Epcor of 12.19 cents with 4 years left. There's a lower rate available of 8.78 cents but the term is 2 years. Is it better to get a lower rate? Are electricity rates likely to be higher than 12 cents 2 years out? Switch now?
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Does Epcor let you change your plan every 30 days? Enmax allows that.
I monitor my father-in-law's stuff too, so if Epcor permits it, I'd change to that rate for 2 years, but set a reminder every few months to check to see if you can lower it and/or lock in for longer.
As for whether years 3 and 4 will be higher than 12.19 is anyone's guess. But you'd be saving 3.41 for years 1 and 2. So years 3 and 4 would have to be higher than 15.60 (12.19+3.41) for you to lose that bet and cancel your your savings from the first two years.
Of course fees, riders, etc. make up the majority of the bill - I'm just talking about the simple electricity rate.