Trying Out Ambit Energy To Lower Electricity Cost

thumb

I got a strange call yesterday — yes, a cold call. Wait a minute…did my do not call status expired?!? Anyway, the guy claimed he works for Ambit Energy, and he wanted to put me on a savings plan that will shave 7% off my Con Edison electricity charges and eliminate the 4% sales tax.

Ambit Energy

At first I was tempted to hang up like I normally do when I get this type of calls. But he was persuasive enough that I continued to listen. I did a quick search on the web, and didn’t see anything bad from consumer perspective — I can’t say the same from their affiliate business program.

This is what the whole deal is all about. Several years back, New York deregulated its electricity and opens the industry to competition. These new energy suppliers — known as energy service companies (ESCO) — can use Con Edison’s pipeline to provide electricity to consumers at a more competitive cost. I learned about this when the industry first deregulated, but didn’t do anything. Well, now I am giving it a shot. This is what’s on Ambit Energy web site:

“Ambit Energy electricity, natural gas and bundled customers save approximately 7% off ConEd’s estimated energy supply charge for the first two months and enjoy a competitive monthly rate thereafter. Just for switching, customers save an additional 1-2% in taxes on the delivery charges each and every month. Ambit customers will also receive a free travel gift and earn rewards points every month, which can be redeemed for other travel packages.

New York Savings Guarantee. Ambit Energy customers in New York are guaranteed annual savings of at least one percent under what Con Edison would have charged them for service or they will receive a check for the difference.”

Right now, I am paying Con Edison $125 a month using their level payment plan. The last bill I paid was for 600 kWh at 10.345 cents/kWh (supply), 7.1 cents/kWh (delivery), $4.92 sales tax, and a whole slew of other charges and fees. If it works out according the web site, I should be saving $4.35 off the supply charge and $4.92 off the sales tax, for a total of $9.27. That’s not much, but I’ll take it — anything to help me meet my goal of shaving 10% off my utilities is good.

If this works well, I will also look into alternative for natural gas provided by KeySpan.

More on saving energy:

Read more about

deregulation, Con Edison, energy service companies, Expense Reduction, utility, home, ESCO, electricity charges, electricity

Recommended articles

Get free updates

  twitter  via Twitter
  twitter  via Facebook
  rss  via RSS or Email

Share this article

Pinyo
Pinyo is the brain behind Moolanomy personal finance blog and a few other web sites. If you like this article, please subscribe for free daily email updates.

All posts by Pinyo

4 Comments

  1. gravatar
    Minimum Wage
    December 29, 2007, 5:05

    Actually, I believe the Do Not Call List HAS expired (recently) and you have to sign up again.

    I think they don’t have a way to take your number off the list if you move and someone else gets your number, and this is their way of dealing with that.

  2. gravatar
    Pinyo
    December 29, 2007, 6:58

    @Minimum Wage – I thought they extended it indefinitely and eliminated the expiration date. I will have to check.

  3. gravatar
    Make Friends, Earn Money
    April 16, 2008, 3:10

    Just wondered how this was working out for you, have you managed to achieve your goal of shaving 10% off you utilities?

  4. gravatar
    Pinyo
    April 16, 2008, 4:32

    I am failing miserably. Apparently, the increasing electricity and natural gas prices, the two extra people, and 24/7 usage (my wife, her mom, and the baby) stay home doesn’t help. :-P

Please share your comment:


Please do not use the name of your site or keywords.


Email will not be published.

Comment Rules: Constructive criticism is welcomed. Please use your PERSONAL name or initials and not your business name or URL, as the latter comes off like spam and I'll most likely delete your comment. Have fun and thanks for adding to the conversation! Here's our comment policy and guidelines.

1 blogs that link to this article:

If your trackback does not show in 24 hours, please resend to this trackback URI.

  1. Ten Easy Energy Savings Tips | My Dollar Plan

Your Credit Score

Featured Reviews

Featured Articles

Recent Articles

Affiliate Relationships

As required by FTC regulations, please note that we have a financial relationship with many of the companies mentioned on this site. We occasionally review products or services that we have been given access to for free. However, we do not accept compensation in any form in exchange for positive reviews and the reviews found on this site represent the opinions of the author.
 

Important Notice:

The information found on Moolanomy is provided and intended for informational and entertainment purposes only and does not constitute financial, legal, or other advice of any kind. The information contained on this site is aimed at a general audience, and does not attempt to offer specific advice to your specific circumstances. If you are looking for professional advice, you should consult with an independent financial adviser.

This site contains information about third party products and services, such as credit card offers, online banking, discount brokers, and credit score services. While we endeavor to ensure that the information presented on this site is accurate at the time of publication, any offers and rates shown on Moolanomy can and do change without notice. Visit the official site of the offer for up-to-date information.

For additional information, please review our Terms and Conditions.

Archives By Year

2007, 2008, and 2009

Additional Resources

  • CheapLoans.co.uk - A simple way to find cheap loans. For a hassle free quotation, apply now!
  • Mortgage Refinance - FHA lender offers fixed rate mortgage refinance loans for consolidating adjustable rate debt and loans, getting cash back and financing a new home remodel.