You read the electricity providers’ information and picked what you thought was the best electricity plan available in your state. You even compared electricity rates offered and chose the cheapest plan.
Now you’ve received your first electric bill, and the power costs are much higher than you expected. What’s going on? Why doesn’t the electricity rate on your bill match what you signed up for? Why is your electric bill higher than you expected?
When it comes to choosing the right electricity plan, it really does pay to spend time reading the fine print. To get an accurate apples to apples comparison, the details buried deep in each plan’s rate documents are the ones that determine how much you’ll actually pay at the end of each month.
Live in Texas? See How To Read An Electricity Facts Label (EFL) for more information.
Unfortunately, many electricity customers pay more than expected on their electric bills and don’t realize it. Let’s break down the most common reasons for unexpectedly high electric bills.