Fixed Rate Electric Agreements Most Popular Among Consumers Who Switch Supplier

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A recent study by MyPowerDeal.com shows that about 70% of household customers that switch electric supplier chose a fixed rate agreement in favor of the traditional variable rate.

Active Electricity Customers prefer fixed rates:

Residential Energy Customers in deregulated markets are more active than before. An estimated 200 000 households in the New York City area have switched their electric supplier in order to get a lower rate.

“It is surprising that most households still haven’t made the switch even if the savings potential has never been this great. Around the NYC I would say that people can save anywhere from 10% to 16% on their electric rate by switching to a lower rate. “- Says Theresa Garcia, manager at MyPowerDeal.

The comparison site, http://www.MyPowerDeal.com, lists which contracts have been most popular this year among people that switched supplier at their site. Based on a study of people switching this year, only about 27% switched to a variable rate. More than 70% of customers opted for a fixed rate. The most popular agreement was the fixed rate 12 months agreement that correspond to more than half of the total.

“Many people prefer not to worry about the rates going up or down all the time. When you have a 12 Month fixed rate you only need to check once a year. Another reason for these rates being popular has been that they are simply lower than the variable rates so customers don’t pay a premium for the security of fixed rates.” - Says Theresa Garcia, manager at MyPowerDeal.

About MyPowerDeal.com:
MyPowerDeal - We would like to save you money. Visit http://www.mypowerdeal.com.

MyPowerDeal offers a smart comparison service that allows users to find the most suitable electric or natural gas agreement in their specific area. MyPowerDeal’s search engine presents real time electric and natural gas rates to customers. These are easy to navigate and understand, even first time users. Switching supplier is done online and takes less than 5 minutes. With a significant customer base, MyPowerDeal offers exclusive rates - rates that are lower than what you get by getting a quote directly from a vendor – and without going through the hassle of calling and quoting multiple suppliers.

About saving money on your utility bill:
If you live in a deregulated state (NJ, NY, CT, IL, PA among others) - Thanks to deregulation, you are free to chose which suppliers that provide your gas and electricity. If you have never switched supplier before, your utility company is providing your electricity and gas. MyPowerDeal's mission is to ensure that households in deregulated energy states can find the most competitive electricity and gas rates in their utility district. Most residential customers have never switched their gas or electricity supplier and hence most customers have an uncompetitive rate.

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Theresa Garcia

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