Category Archives: Frequently Asked Questions (FAQ)

11.18.16
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FAQ: What if Comed is the cheapest?

Comed’s electric rates have recently gone down in Illinois prompting the question: what if my cheapest option is the “default” option? In Illinois, if you don’t proactively choose a retail electric provider you auto-default to Comed. This is different from Texas where you must choose a retail electric provider.  Diagram.

For Customers Who Want the Cheapest Electric: There are times when Comed offers a competitive rate, but even when their prices go down, there are typically still a handful of cheaper rates or incentives packages that we can switch our customers into. While the savings might, for a limited time, become smaller they’re still savings. And when prices begin to swing back up – you’ll rest easy knowing that you’re still getting the cheapest.

The Green Answer: Many of our Illinois customers utilize our service to ensure they’re always getting the cheapest 100% renewable electricity. Typically the cost is the same or just slightly more, as outlined in this past blog post. Since we are constantly monitoring and switching our customers into the cheapest rates, our customers often get to take advantage of cash back and gift card incentives from their electric providers as well.

09.30.16
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FAQ: Can I change power companies?

We get this question more often from Illinois customers, rather than Texas. Both Illinois and Texas are deregulated energy states. That means that people can choose which “retailer” they purchase their energy from. The difference between Illinois and Texas is that Illinois has a “default” retailer which is the well-known utility, Comed. All Texans have to choose an electric retailer in order to obtain their power.

So, the simple answer is: YES.  change-cycle

However, once you’ve signed up with Energy Simply, you won’t ever have to worry about changing power companies again. It can be a hassle to navigate the hundreds of companies and thousands of plans to figure out which one is right for you. That is why Energy Simply monitors the markets and takes care of the switching – saving our customers hundreds and hundreds of dollars.

For answers to more of your questions, click on the FAQ category, located on the right hand side of this blog.

09.19.16
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Energy Simply Offers Commercial Service

Energy Simply has expanded its services to include small business clients who stand to save thousands of dollars in electric costs.

1107_small-business_650x455Building on its successful residential business model, Energy Simply is offering competitive commercial electric advising services for small businesses in Texas. Small business owners, eager to put more money into their business instead of their electric bills, have quickly jumped on the bandwagon. Strong potential clients include retail, office, restaurant, coffee shops, bakeries – any small business that could benefit from cost savings.

Interested parties can sign up for their free consultation by calling 1-844-586-9850, or emailing jordan@energysimp.ly.

02.05.16
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FAQ: Sorting all the electric company offers you receive in the mail

Why am I receiving so many electricity offers in the mail? Should I be switching to one of them if they say they’re the cheapest?

mail pile

If you live in Texas or Illinois you will receive lots of offers in the mail from electricity companies claiming to be the greenest or the cheapest. That is because Illinois and Texas have opened up the retail electricity market to competition. If you’re one of our customers there’s a good chance you’ll get lots of mail from these companies because they will recognize that you’re shopping the market (or, more accurately, that we are shopping the market for you).

Here’s the thing – a lot of those offers come with pitfalls. Perhaps they are offering a low introductory rate, or perhaps they have a variable rate and they’re counting on you being too busy to pay attention when it skyrockets. Either way, there is no electric company in existence who’s bottom line is your top priority!

We welcome your questions when you receive these offers. After all, our top priority is your bottom line! Our business model is based on saving you the most money on your electric. We are happy to provide free advice on the offers – or, if you just don’t want to worry about it you can sign up for our service and we will take care of it for you. From monitoring the market, to identifying and getting you into the best plan to switching you when we can save you even more – we take the hassle and uncertainty out of buying electricity for your home.

 

01.07.16
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Seasonal Variance and Personal Variance

How do seasons and personal energy usage impact costs?

Your electricity bill varies significantly by season.  If you live in Texas, you’re likely using relatively little energy during the winter months and likely using lots of energy during the summer months.

We use data below from a randomly selected sample of twenty-five Energy Simply customers from Texas.

SEASONAL VARIANCE: Look at the line in the graph below labeled “TX Average.”  The horizontal line labeled “1” below represents average usage.  Looking at the six months from November to April, electricity usage is well below average; but for the three summer months from June to August, usage is well above average.  If your average usage was around 1,000 kWh, you would want to find the best plan for 750 kWh in the winter months and around 1,500 kWh in the summer months.  Rarely is one plan the best plan at both of these usage levels so you’ll want to be switching plans when the seasons change (or let Energy Simply do this for you.)

Seasonal and Personal variance PNG

PERSONAL VARIANCE: Seasonal variance is a big factor in choosing the best plan for you, but personal variance is also very important.  “TX Customer 1” and “TX Customer 2” represent two customers from the randomly selected sample of 25.  They illustrate the significant variance individuals might have even from the average.  Assuming an average monthly usage of 1,000 kWh for both of these customers, “TX Customer 1” used more than 2,500 kWh in June; more than 2.5x their average.  “TX Customer 2” used about 333 kWh in February and March; about 1/3 of their average.  Most plans that are good deals at 2,500 kWh/month are not so good at 1,000 kWh or 500 kWh; and same for plans that are good deals for 500 kWh/month aren’t often so good for 1,000 kWh/month or 2,000 kWh/month.

If you want to be in the best plans for your personalized usage, you should be changing with the seasons (or letting Energy Simply do this for you.)

10.08.15
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ComEd Customers: No Minimum Commitment Period

Recently there was some good news for Illinoisans. Recently Energy Choice Matters reported that there is no longer a minimum time that you are required to stay with ComEd before switching to a new company. Previously, if you switched back to ComEd from another supplier you were required to stay there for 12 months. Not so anymore.  handcuffs

This is just one more reason it makes sense to shop around for your electricity in Illinois. You can get the cheapest or
greenest electricity and always have ComEd rates as a fallback. If you want the cheapest or greenest but don’t have the time or expertise to shop around, let us do it for you.

You can switch or Energy Simply can switch you to a better deal or a 100% renewable plan at any time!

08.13.15
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FAQ: Why do you need my credit card?

You’re serious about saving and you want it to be simple, right? Us too. But we get it – we’re asking you for some personal information like a power bill and credit card info, so you want to know why. Here’s a brief explanation, with a more detailed one available on our website:

  1. You’ll enter your email and zip and tell us if you want the cheapest or the cheapest 100% renewable electricity.
  2. Enter your payment information – IMPORTANT – you will not be charged anything until we provide you with your tailored plan and you approve it.
  3. Upload an electricity bill (or take a picture of it and send it to us) so we can provide you with your tailored plan.

Once you’ve submitted this information you’ll receive a tailored plan within 24 hours via email. By approving that tailored plan you’ll complete the process and become a customer. We will never charge a fee until your tailored plan goes into effect and we keep your information safe and secure.  bank vault

We are serious about savings and service – we want customers who are serious too – by providing your detailed information up front we can provide you savings faster and more efficiently.

07.29.15
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Energy Simply’s Algorithm: Technology and Consumer Focus Save You Money

Question: What do you get when you put a McKinsey and Co. Management Consultant together with a Microsoft Engineer with a statistics background? 

Answer: Energy Simply’s proprietary algorithm that helps select the BEST energy plan FOR YOU.

We look at ALL energy plans available to you, not just ones that pay us a “kick-back.” In fact we don’t take kick-backs or any incentives from energy companies. We’re only paid by you, so we’re always in your corner.

We understand MARKET TIMING and look at short-term and long-term plans and optimize for your lowest cost. That way you don’t get stuck in a long-term plan if rates are dropping and don’t get a short-term plan if rates are rising.

We FREQUENTLY ANALYZE the market looking for the best plans. If a plan is available that could save you money, we calculate and, with your permission, automatically switch you.

We MONITOR CONTRACT EXPIRATION dates so you don’t get stuck paying huge rates when your contract switches from fixed price to variable.

We customize the plan FOR YOU. A plan that might be great for you in July when you need air conditioning may not be the best plan for you in the spring when the temperature is moderate. We look at your past energy use to help choose a plan that’s right for you now and right for you in the future.

06.19.15
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FAQ: Can I switch my electric power company?

You don’t have to keep overpaying for electricity,  or keep polluting the world with dirty electricity.  If you live in Texas or Illinois, you can switch and start getting cheaper and/or greener power now.

changesameIn Texas, if you are currently not under contract (on a month-to-month or pay as you go plan)  you can switch right now.  You can also switch right now, with no termination fee, if your plan expires in the next 14 days (you are within the state mandated grace period).  If you are not in either of those 2 groups, you can still switch right now, but you are likely under contract and subject to a termination fee ranging from $100-$200 if you switch.

If you fall into one of the first 2 groups you  should always switch right now.  You are definitely paying more than you need to if you have a month-to-month plan or a pay as you go plan, and if your plan expires in the next 14 days you want to switch now so the company can’t hit you with month-to-month variable rates upon contract expiration.  If you have a cancellation charge, it may still be worthwhile to switch.  Our average customers save ~$50/month and some of our customers have saved $100s/month.  If you haven’t changed providers in more than a year, you have more than a few months left on your contract, and you live in a 2000+ square-foot house, chances are you can save money by switching.  You can go to www.powertochoose.org and pick a plan.

Things to remember when picking a Texas plan:

1) Always choose a fixed price plan

2) You can often save money with 3-6 month plans

3) Make sure you note your contract end date, so you can sign yourself up for your next plan before the one you choose expires

4) Your use varies so take a look at www.smartmetertexas.com to help you figure out what your expected usage will actually be

5) Always look at the fact label and make sure the company isn’t playing games with pricing using large credits or other tricks to make their plan look cheaper

In Illinois, the vast majority of people will have no cost to switch (basically if you’ve never switched before there will be no cost to switch).  So you can go to www.pluginillinois.org,  choose a cheaper (current price to compare from ComEd is ~7¢/kWh ) or greener plan and in 3 to 7 weeks you will be receiving power from your new provider.

Two things to remember when choosing an Illinois plan:

1) Always choose a fixed price plan!

2) Make sure you know when your plan will end and remember to switch again to a new plan ~5 weeks before the end of your plan to avoid getting hit with variable rates at the end of your contract (to figure this out you also need to know when it starts).

And lastly,  remember there is an alternative to spending your precious tine staying on top of this stuff.  You can let Energy Simply manage it all for you.  We are electricity market experts and we are always thinking of ways to keep you in the best cheapest (and potentially greenest) plans.  We sign you up for the best available plan, track prices in case it ever makes sense to switch mid-contract, and switch you before your contract expires so you never get stuck paying variable rates.  And it will only cost you $5/month.  Sign up today!

06.11.15
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Case Study: Small Apartment

Our company is primarily focused on saving Texas consumers money on their electricity. But we also have a unique offering in Illinois that makes up a smaller percentage of our business.

small apartmentAnne was an early adopter of the Energy Simply offering and she has been so pleased with our concept that she’s offered to provide customer testimony for marketing. When I first told Anne about our company I wasn’t sure I would have much chance of gaining her business. Her residence is a small, energy-efficient apartment in Chicago so her electricity use is extremely low. But what struck a chord with Anne wasn’t the money she could save – it was the convenient, no-risk way we could guarantee her the cheapest 100% renewable electricity. She’d carried the guilt around for months and months – knowing she could be buying energy produced from wind and solar, but not knowing where to start or how to avoid paying too much. Energy Simply provided the solution and now Anne’s carbon footprint is smaller – and she’s saving a few bucks a month to boot!

To review – even if you’re in a small apartment, Energy Simply can:

-Help you save if the apartment is older/innefficient

-Lower your carbon footprint by getting you the cheapest 100% renewable

-Ensure you’ll avoid expensive variable rate pricing or hidden fees sometimes associated with renewables

Check out our explainer video or contact us to learn more.