Skyrocket Savings with Top RI Electricity Contract Secrets

Fixed vs. Variable Rate Plans

When exploring electricity contracts, you'll encounter two primary types: fixed-rate and variable-rate plans. Fixed-rate plans lock in a specific price per kilowatt-hour (kWh) for the duration of the contract, which typically ranges from six months to three years. This option provides stability and predictability in your monthly bills, shielding you from market fluctuations. On the other hand, variable-rate plans fluctuate with the market, which can be beneficial if rates decrease but risky if they rise. Understanding these differences can guide you in choosing a plan that aligns with your financial goals and risk tolerance.