11/1/2017 update: This plan is no longer available, so we’ve removed it from the RateGrinder database.
Today iChoosr announced the results of their 9/28/17 “Texas Power Switch” electricity auction. For those not familiar, iChoosr is a UK-based electricity aggregator that bundles customers to negotiate volume discounts from retailers. Their latest auction targeted customers in the Oncor and TNMP service areas.
Per their link, Champion Energy won iChoosr’s auction with a low bid of $5.25/month + 3.1 ¢/kWh, plus TDU-specific pass-through charges. Is that a good price? Compared to the average offerings today, it’s not bad. Is it the lowest available price? That depends.
Your lowest-cost electric plan depends on your particular month-to-month electricity usage. For users who average a relatively large ~2500 kWh/month or more annually, Champion’s plan may beat the competitors listed publicly on PowerToChoose.org. But for Oncor-area customers averaging only 500, 1000, or 2000 kWh/month, other plans may save them $186, $157, or $92 per year, respectively.
To Champion’s credit, this plan’s rate structure is fairly gimmick-free. But to its detriment, gimmickry is what enables informed consumers — with the help of a tool like TPG’s RateGrinder — to pay even lower rates. In today’s deregulated electricity market, broad offerings rarely yield the best price for everyone.
iChoosr won’t provide complete offer details or allow sign-ups for Champion’s plan until October 9. Until then and while the plan is offered, TexasPowerGuide.com will include this plan in our RateGrinder tool for reference. To find out instantly if iChoosr or another plan is the best for you, click the link below.