![]() You will see so many different rates online because the retail electric providers can choose different ways to show those rates. There are many components of electric rate. The cheapest electricity rate does not always equal the lowest electricity bill When searching online for the best commercial or residential electricity plans, different websites can show a mix of these different offers without clearly defining the differences between contract terms. Prepaid plans: This is a prepaid plan type of electricity contract where you buy the electricity before you use it.Flat-rate plans: These plans have a fixed rate per month regardless of the amount of energy consumed.Green energy plans: These plans provide electricity that is generated from renewable sources such as solar or wind power.The customer’s rate is higher during peak demand periods and lower during off-peak periods. Time-of-use plans: These plans offer different prices for electricity at different times of the day, based on the time of use like “free nights”.The customer’s rate can change from each month and is affected by changes in the market price of electricity. Variable-rate plans: These plans offer a fluctuating rate per kWh and based on the current market price.The customer’s rate is not affected by changes in the market price of electricity. ![]()
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