Any experience with "Energy Direct" & whether it's worth signing up with ED's
Energy Protection Plan?
Energy Protection Plan?
Energy Direct
- Thread starter dragondick
- Start date
You're betting that you can predict the price of gas better than they can. The rate they offer includes a profit even after gas goes as high as their paid experts who fear the worst. Don't sign and you also pay them a profit, but it's a percentage on the rate which floats up and down w/ the market. Included in the float are their purchases of gas when it's cheap which they then draw on when it's expensive. If you've signed, of course, that just increases their profit.
The only argument in favour of signing that speaks to me is wanting to be able to predict your gas costs, which for some may be desireable enough to forgo possible savings. But it's only the rate that's predictable anyway; consumption varies as the weather does.
The only argument in favour of signing that speaks to me is wanting to be able to predict your gas costs, which for some may be desireable enough to forgo possible savings. But it's only the rate that's predictable anyway; consumption varies as the weather does.
The rates go up... and the rates go down... I do not see any benefit to signing a long term contract / protection plan as in the long run there will most likely be no savings.
shakenbake
Senior Turgid Member
dragondick said:
I am paying less than 30 cents per cubic metre these days. Scammers like Direct Energy would have wanted me to sign up for 43.5 cents per cubic metre when gas was about 38 cents per cubic metre. I resisted and have NEVER regretted my decision. The rates of these 'savings' companies have always been higher than the market rates in the last ten years that I have folowed them.
Bottom line, save your money, pay the market rate and let the bastards make money the honest way, as you and I do, by working for it.
shakenbake said:
DON'T DO IT!!
I regret my decision made 2 years ago...
Got to ride out the duration of the 5 year commitment now.
Tried to cancel and they want $600+ penalty.
BASTARDS!!!
i signed a contract 2months ago with my electricity after ive read the fine print i called them up and cancelled it.no good at all.
dragondick said:
Not worth it. One of the reasons why they've been pushing so hard to get people to sign on to these plans is that natural gas prices (at the commodity level) have been dropping and there's speculation out there that those price may continue to drop.
If that's the case, the only one getting protection from that plan is the gas company: you're locked in at higher rates.
Other than Direct Energy is there any place to find other providers of Gas (in durham) .. had enough of DE and once my contract is up would rather not provide them any business.
