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Author Topic: Cut 25% off your electric bill- save on your mining rig costs  (Read 3697 times)
tymothy
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June 23, 2011, 03:38:54 PM
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If you're lucky enough to live in an area with deregulated electric providers, you definitely should take a look at switching to someone's who's cheaper considering the electric costs of running a bunch of rigs. I'm in Philadelphia, which recently deregulated. I just switched from the default provider PECO to the cheapest provider I could find, Ambit Energy. My base price per kWh dropped from 10.78 cents to 8.4 cents and eliminated the surcharges PECO charged about 500 kWh/month, which will save me 25%+ a month when you throw in taxes and PECO specific surcharges. I really encourage you to take a look at Ambit or any other deregulated provider. Ambit serves Pennsylvania, Texas, Illinois, New York and Maryland- not sure if their rates are as competitive elsewhere, but definitely worth a look.

I don't work for Ambit energy, but I am a customer and do get travel rewards if enough people sign up under my account. So, shameless plug, if you do decide to go with Ambit, please sign up through my link:

www.A2780879.joinambit.com

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BombaUcigasa
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June 23, 2011, 04:00:13 PM
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Also check for day/night split tariffs. You could save another 20%.
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June 23, 2011, 04:08:23 PM
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I live in a deregulated area also. I was reviewing the offers to switch my service to one of these new providers. They all offer lower rates. However, these deals are invariably 24-month contracts, where they lock the price for the first 12 months. I'm afraid to sign up because I don't know what that means for the 2nd 12 months of the contract. I could save .01c per kWh for 12 months, but when happens when they increase the rate by 0.10c per kWh for the next 12 months and I am "locked in" to their contract?!

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tymothy
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June 23, 2011, 04:29:36 PM
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I live in a deregulated area also. I was reviewing the offers to switch my service to one of these new providers. They all offer lower rates. However, these deals are invariably 24-month contracts, where they lock the price for the first 12 months. I'm afraid to sign up because I don't know what that means for the 2nd 12 months of the contract. I could save .01c per kWh for 12 months, but when happens when they increase the rate by 0.10c per kWh for the next 12 months and I am "locked in" to their contract?!

Yeah, I looked at that. Generally these deregulated providers peg their energy costs at market rate+ some fixed price rate, so I believe fluctuations in price are almost entirely based on market. Ambit doesn't have a contract period or a cancellation fee for PA at least, which also made me want to switch.
wndrbr3d
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June 23, 2011, 04:38:23 PM
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The state of Texas here in the US is deregulated and actually has a website that lets people know which company is offering the cheapest power:

http://www.powertochoose.org/


The trick is to sign up for a fixed rate vs. monthly, because then you'd be at the mercy of the commodity markets.
tymothy
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June 23, 2011, 05:52:13 PM
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The state of Texas here in the US is deregulated and actually has a website that lets people know which company is offering the cheapest power:

http://www.powertochoose.org/


The trick is to sign up for a fixed rate vs. monthly, because then you'd be at the mercy of the commodity markets.


Well, the fixed rate is going to be higher because it assumes higher energy rates. The premium you pay for a fixed rate is basically an insurance cost, which probably includes added profit for the utilities. Chances are you'll end up paying less on a variable plan.
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June 23, 2011, 08:53:51 PM
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If you're lucky enough to live in an area with deregulated electric providers, you definitely should take a look at switching to someone's who's cheaper considering the electric costs of running a bunch of rigs. I'm in Philadelphia, which recently deregulated. I just switched from the default provider PECO to the cheapest provider I could find, Ambit Energy. My base price per kWh dropped from 10.78 cents to 8.4 cents and eliminated the surcharges PECO charged about 500 kWh/month, which will save me 25%+ a month when you throw in taxes and PECO specific surcharges. I really encourage you to take a look at Ambit or any other deregulated provider. Ambit serves Pennsylvania, Texas, Illinois, New York and Maryland- not sure if their rates are as competitive elsewhere, but definitely worth a look.

I don't work for Ambit energy, but I am a customer and do get travel rewards if enough people sign up under my account. So, shameless plug, if you do decide to go with Ambit, please sign up through my link:

www.A2780879.joinambit.com



I did this switch a couple of years ago and ended up paying almost exactly the same amount as before. The de-regulated company i purchase the energy "supply" from charges less, but my Utility company is still the one delivering it -- and they charge a "delivery" fee which brings my total electricity bill back up to the original amount (once you factor in flat fees, taxes, surcharges, etc).

It's a really stupid system. I hate corporations.
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June 27, 2011, 02:55:27 AM
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I did this switch a couple of years ago and ended up paying almost exactly the same amount as before. The de-regulated company i purchase the energy "supply" from charges less, but my Utility company is still the one delivering it -- and they charge a "delivery" fee which brings my total electricity bill back up to the original amount (once you factor in flat fees, taxes, surcharges, etc).

It's a really stupid system. I hate corporations.

I was actually going to ask this question in a new thread, but maybe you can answer it:

I live in Texas, and am with Gexa Energy (I hate them), my bill has both 9.6 cents per KWh and 10.9 cents per KWh listed on it (either one is fine with me), but since I started mining I've been paying close attention to it, and it has a TDU charge of $100 for the past month where I was mining.  WTF is this, does anyone know?

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Capitan
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June 28, 2011, 02:03:04 PM
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I did this switch a couple of years ago and ended up paying almost exactly the same amount as before. The de-regulated company i purchase the energy "supply" from charges less, but my Utility company is still the one delivering it -- and they charge a "delivery" fee which brings my total electricity bill back up to the original amount (once you factor in flat fees, taxes, surcharges, etc).

It's a really stupid system. I hate corporations.

I was actually going to ask this question in a new thread, but maybe you can answer it:

I live in Texas, and am with Gexa Energy (I hate them), my bill has both 9.6 cents per KWh and 10.9 cents per KWh listed on it (either one is fine with me), but since I started mining I've been paying close attention to it, and it has a TDU charge of $100 for the past month where I was mining.  WTF is this, does anyone know?

Looks like it means "Transfer and Distribution Utility" (http://www.texaspoweronline.com/learn/invoice/)

I'm guessing that means something similar to the charges that I described earlier ("supply" fees from one company, and "delivery" fees from the local utility company).
BiggieJohn
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June 28, 2011, 06:43:47 PM
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The state of Texas here in the US is deregulated and actually has a website that lets people know which company is offering the cheapest power:

http://www.powertochoose.org/


The trick is to sign up for a fixed rate vs. monthly, because then you'd be at the mercy of the commodity markets.


Well, the fixed rate is going to be higher because it assumes higher energy rates. The premium you pay for a fixed rate is basically an insurance cost, which probably includes added profit for the utilities. Chances are you'll end up paying less on a variable plan.

that will depend on the deregulation laws in your state.
In texas, thru my providor, Green Mountain Energy (100% wind power) paying month to month is almost double what a 6 month contract rate is. .167 for monthly plus fuel surcharges vs .0913 fixed for a 6 month contract.

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June 28, 2011, 10:52:26 PM
 #11


I did this switch a couple of years ago and ended up paying almost exactly the same amount as before. The de-regulated company i purchase the energy "supply" from charges less, but my Utility company is still the one delivering it -- and they charge a "delivery" fee which brings my total electricity bill back up to the original amount (once you factor in flat fees, taxes, surcharges, etc).

It's a really stupid system. I hate corporations.

I was actually going to ask this question in a new thread, but maybe you can answer it:

I live in Texas, and am with Gexa Energy (I hate them), my bill has both 9.6 cents per KWh and 10.9 cents per KWh listed on it (either one is fine with me), but since I started mining I've been paying close attention to it, and it has a TDU charge of $100 for the past month where I was mining.  WTF is this, does anyone know?

My TDU is centerpoint, and my provider is Greenmountain (100% wind power). My total cost per KWh inclusive of everything (taxes, service charges, etc) is 14c.

Looking to review Bitcoin / Crypto mining Hardware.
CydeWeys
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June 29, 2011, 03:28:38 AM
 #12

Thanks for this thread!  I looked and it turns out that my state (Maryland) is deregulated.  I believe I've gotten cheaper electricity through another provider by switching, but I'll only believe it once I see that first bill.
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