Fixed vs. Variable Rate: Which One Is Right for You?
Posted On: February 5, 2020
Now that you have a choice in an energy provider, the next step is choosing which type of plan works best for you: fixed rate or variable rate. The answer really depends on your needs and how flexible they are. Let’s take a quick look at the differences, then deep dive into the benefits of fixed rate and variable rate plans:
Rate Stays the Same
Great for Budgeting
Rate Changes with Market
No Cancellation Fee
Fixed rate plans are a perfect option for people looking for security from their energy service. These plans offer a fixed, guaranteed rate for the length of the contract term, no matter how much energy is used during a billing cycle. The fixed rate makes budgeting easier as you can better gauge your bill each month.
Variable rate plans are all about flexibility. The rate fluctuates with the market, which means your rate could change monthly or by the hour. If the market price drops, so will your energy bill, and vice versa. Variable rate plans also have month-to-month terms and no cancellation fees, but it is important to check with your energy provider first before signing a contract.
Stream offers fixed and variable rate plans that are competitive and affordable! You can view rates in your area at mystream.com.