Wednesday, February 10, 2010

Saving Money on Electric with Dominion?

It's the time of year for higher electric bills.  Spring will get here soon right??  We had been set-up on Budget Billing through Duke Energy for years.  Several months ago I decided to change it and pay our actual electric bill each month.  I wanted to see what we're really using and how little things can affect our bill.  Ouch!  The bill is not fun to get this time of year!

This letter came in my mail recently.  At first glance I assumed it was junk mail but I've learned to open everything.  You never know what will be in your mailbox.  I'll admit that I am a skeptic and wonder what the catch is when something appears too easy or too good to be true.  This letter is one of those times.

I'm wondering if any of you received this it and know anymore about it than I dot??  The letter makes it sound like you must receive the letter to be eligible for the offer.  Who knows though.

Here's the details as I understand them:
We would be switching our electric provider from Duke Energy to Dominion Retail.

On the surface everything would stay the same though.  Our bills would still come from Duke and Duke would still service any billing, outage or electric needs we have.

There is a $50 cancellation fee if you switch back before December 2011.

The most exciting difference, if all is as they say it is, is that we would save more than 30% on our electric bill by locking in a fixed price of 6.55 cents per kWh. Fixed through December 2011.

30%!!  That's huge!

What's the catch?  I don't know and that's what I'm trying to find out.
Any  help?  Have you switched?  Have you noticed any differences??

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Emily (stampingout on SCS) said...

I don't know anything for certain, but I get these a lot. From different companies, but I know I have gotten them from Dominion. I don't really know of anyone who has done this. It sounds good, though. Our electric bill is super cheap in the winter, it's our gas bill that stinks! :D

barbieshusband said...

Dukes rates are cheaper gas is .73ccf and electric is 6.49 kWh. I looked at a few different sites IGS, Dominion, etc. for their rates were .78ccf and 6.99 kWh.

Becky @ said...

Could barbieshusband be aka Brandon?

The offer we were quoted ... and accepted by the way ... with Dominion is 6.55 per kWh. I called Duke and we have been paying 8.21 per kWh over the last year. We don't have gas. Could that mean we were paying more for electric than someone with gas??