This month I received a flyer from Duke Power offering a FixedBill program, get a fixed billing amount for the next 12 months. Sounds good right?

Maybe not!

Here is what I’ve determined:

1. I have to give up my current Budget Billing plan costing $235/mo.
2. The new FixedBill costs $277/mo + state and local taxes and “other service charges”.
3. The state and local taxes and “other service charges” I currently pay in my $235/mo amount is $14.26
4. I calculated my additional charges under FixedBill at about $15/mo.
5. This brings my FixedBill total to $292/mo.
6. I can opt-out of the program before the 12 months are up but I would have to pay them back any overage, BUT I would NOT get any credit for under usage.
7. After 12 months I’m automatically renewed for another 12 months unless I contact them and opt-out.
8. The FixedBill amount includes a “Risk Adder not to exceed 6% and a Usage Adder will be between 4 – 6%.
9. There is no incentive during the year to conserve energy! We are already paying about $0.13 per KWH (net)!
10. My monthly electric bill will go up $57. Next year rate would be based on this year PLUS Risk Adder and Usage Adder

Overall, I don’t see anything but a benefit to Duke Power who will get an additional $57/mo. from me (as I calculated it).

Current Bill   $277/mo

FlexBill Bill   $292/mo

I don’t think I’ll be signing up for this program!