There are many search websites for electricity companies on the market, and if you don’t spend time doing research, you may accidentally fall into a trap. Below is a plan we found from a well-known website search. It appears on the homepage as a recommended plan and also appears to be the lowest-priced plan, but is it really the cheapest plan? Let’s take a look at its EFL (Electricity Fact Label). For those who don’t know what an EFL is, you can read this article: “What is an EFL (Electricity Facts Label)?”
Search results from well-known websites:
Search results from BestPowerPlan.org:
As we can see from the first plan, it recommends this plan for users with an average monthly usage of 1000 watts. At the same time, we used BestPowerPlan.org to find the cheapest plan by entering the address. At first glance, BestPowerPlan.org doesn’t look as cheap as the well-known website. However, under our analysis, we can see where the trap is in the first plan.
In the EFL, the price for 1000 kWh is 13.7 cents, while what we found on BestPowerPlan.org is 14.9 cents. Many people don’t know how much electricity they use per month and think they probably use around 1000 kWh. Then they sign a two-year or longer contract. But is this really right? We applied different levels of electricity usage to these two plans, and the answer is clear. In the calculation table below, except for exactly 1000 kWh, your electricity bill is higher than the plan found by BestPowerPlan.org for all other levels of electricity usage. So you may unknowingly pay a lot more in electricity bills.
In the example above, we selected a plan that was easy to compare, but some electricity companies have extremely complex calculation formulas that require a lot of time to understand. We did not mention the names of any electricity companies in the article because we do not want to cause unnecessary trouble. Additionally, our website does not have any shares in any electricity companies. BestPowerPlan.org uses big data and your historical actual usage to select the most suitable electricity plan for you. We have already covered about 40 electricity companies on the market and hope to have more electricity plans in our database in the future to make it more complete.