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Electric Company Wants To Help Me...

reload999reload999 Member Posts: 3,164 ✭✭
edited October 2017 in General Discussion
...help their profits. OK, a letter from the electric company (Gulf Power) suggests that I should enroll in "Flatbill," a fixed monthly rate for my electric service. Based on my last 12 month average of $142.50 I can enroll in "Flatrate" for only $167.24 per month. What a wonderful deal (for them). I know rates are subject to increases, but hopefully not nearly $25/mo. Who signs up for these things? [B)]

Comments

  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    if you get flat rate how much can you go over your historic average before they add $$$ ??? for how many years
  • asphalt cowboyasphalt cowboy Member Posts: 8,794 ✭✭✭
    edited November -1
    That's bleening outrageous. Your average payment should drop, not go up like that.

    I'm on average billing for both electric and gas and my monthly payments dropped.

    quote:Originally posted by spasmcreek
    if you get flat rate how much can you go over your historic average before they add $$$ ??? for how many years


    I've been on average pay plan for four years now and my monthly doesn't fluctuate more than ten or twelve dollars a month.
  • montanajoemontanajoe Forums Admins, Member, Moderator Posts: 53,534 ******
    edited November -1
    Yeah,up here they call it budget billing. In summer a person doesn't use much,but in the long,cold winters we get,your power bill will double,triple that of summer and a person falls behind. For some this is a good option. Each needs to evaluate their own circumstance.
  • reload999reload999 Member Posts: 3,164 ✭✭
    edited November -1
    rate is only guaranteed for 12 months, "regardless of how much energy you use." It would only cost me an average of $25 more per month for the privilege.quote:Originally posted by spasmcreek
    if you get flat rate how much can you go over your historic average before they add $$$ ??? for how many years
  • remingtonoaksremingtonoaks Member Posts: 27,192
    edited November -1
    They do the same thing here in Utah, but and this is a big BUT, at the end of the year they reevaluate what they took in and adjusts your next year flat rate according to it. So if you have a credit, it is applied to your next year flat rates. There by reducing that monthly figure that you have to pay. If you have a deficit, then that is applied to your next year's rate and you pay alittle more, but if you choose not to resign for the flat rate, you're obligated to pay the difference right then. But then they'll also let you make arrangements on that figure if there's a lot. I would check into it, I'm sure that's what your state does also

    It's actually a good thing for people that are on a limited income that don't know how to budget their money.

    Personally I have never been on it, nor do I desire to be on it. I'm sure I can handle my own finances, I'm not a little child. But there are a lot of people that get themselves in trouble when they're utilities go up in the high usage periods and they can't afford to pay it. So this way it lets them pay a little bit a head during the summer low useage periods when they're less so that they don't have to pay as much during the winter when they're more
  • reload999reload999 Member Posts: 3,164 ✭✭
    edited November -1
    Thanks for the comments. I understand the concept of paying the same amount monthly to offset the "unknown" of the high months, but the proposed rate is just nuts.
  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    have to know more.....in florida i would guess your biggee is summer AC use cost...a flat rate could be different than an average rate.....at your increase to flat rate suggests about a 17% in kwh use or paying for 14 months per year at old rate
  • spasmcreekspasmcreek Member Posts: 38,925
    edited November -1
    anyhoo....the thing at the lake home that makes me boil is they put in the meters that can be read remotely at the REA office ...BUT..these chinee junkers if in the sunlight have the digital readout fade so you cannot read your own meter ...argued with them till a bozo said i DO NOT have to read my meter and i told him then i would file a complaint with the kansas corporation commission and we would see what my rights are..another meter next week ...BUT ... i even put a bucket over it and the numbers disappeared anyway ..i was so irritated i quit responding instead of doing something to go to jail..stonewalled
  • wpageabcwpageabc Member Posts: 8,968
    edited November -1
    Time to look at some solar plans...
    "What is truth?'
  • Marc1301Marc1301 Member Posts: 31,902 ✭✭✭
    edited November -1
    Let's say your power use comes to 2K a year,...what difference does it make if you pay $166.67/month, or the actual cost each month?

    You are still going to have to come up with 2K for the year.

    I don't get the point of these plans, nor do I understand paying a mortgage company a fee for making twice monthly payments to lower your interest expenses over the course of said loan.

    It's very easy to accomplish the same thing for free by sending in extra principal payments once or twice annually.
    "Beam me up Scotty, there's no intelligent life down here." - William Shatner
  • reload999reload999 Member Posts: 3,164 ✭✭
    edited November -1
    It would make no difference, but that is not what they're offering. I only paid them $1,710 in the past 12 months (average of $142.5/mo), so why would I agree to pay them almost $2,007 for the next 12 months (fixed monthly of $167.24)?

    quote:Originally posted by Marc1301
    Let's say your power use comes to 2K a year,...what difference does it make if you pay $166.67/month, or the actual cost each month?
  • mjrfd99mjrfd99 Member Posts: 4,572 ✭✭✭
    edited November -1
    quote:Originally posted by wpageabc
    Time to look CAREFULLY at some solar plans...

    FIFY - Took 6 months for us to decide and decode the solar companies BS. Neighbor went for the FREE system [VIVANT-IIRC]and has been complaining ever since.
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