EST. 2013
Energy Ogre Members Save Big, Especially After Contract Renegotiations
Published on May 16, 2023
Is Energy Ogre Worth It?
Many people wonder what Energy Ogre is all about. What does Energy Ogre do? Why do they do it? Well, Energy Ogre is proud to be the first and only unbiased company in Texas to work on their member's behalf to find and enroll them in the best electricity plan available! We have a fiduciary relationship with our members, and we take that responsibility seriously. Energy Ogre has two specific pricing strategies that help members we’ve already put in contract. These methods can be by switching them out of their current plan or renegotiating their contract entirely.
Within this article, we explain what we did and the immediate benefit it presented to our members. Hopefully, you will see the value Energy Ogre can provide to our members who are currently in contract.
Why Were Energy Ogre Members in a High Rate in the First Place?
As many of you may know, the past couple of years have proven to be historically significant in the world and specifically the energy market. Prices rose to heights we’d never seen before and things got tense. This was in part due to natural gas supply concerns brought on by Winter Storm Uri in 2021 and exacerbated by the war between Russia and Ukraine.
Many Energy Ogre members were concerned to see increased rates–in some extreme cases, their effective rate doubled from 10 cents to 20 cents. Remember, Energy Ogre doesn’t set the prices for electricity, our mission is to shop what’s available. As we always promise, Energy Ogre patiently kept an eye on the market, waiting to pounce on cheaper rates when they emerged again.
Over the past year, Energy Ogre has renegotiated and switched thousands of members' contracts to help them save as much money as possible! The two strategies we used are called “market check” and “blend and extend.”
What Is an Energy Market Check?
Throughout the year, Energy Ogre constantly conducts market checks to ensure our members are paying the most cost-effective rates available. We do this by analyzing your home’s usage history and calculating if new, lower rates will help save more than your current rate.
Now, exactly how many members did we help get into better plans? Over the past 12 months, we've completed more than 16,000 market checks with a 43% average drop in the costs of our members’ energy charge.
This evaluation is performed for all members that will make a considerable profit, even after including the early termination fee (ETF) amount that has to be paid. Our members can also personally request a market check any time they wish.
What Is an Energy Ogre Blend and Extend?
Our other strategy has the member remain with the same company instead of switching. This is done by restructuring a member's current contract (without paying any penalties or fees) and placing them in a new contract with a lower rate for a longer duration. This maximizes and secures their savings for the foreseeable future.
Unlike market checks, blend and extends are done automatically and don’t require approval by the member. In the last 12 months, we completed over 32,000 blend and extends. This resulted in an 18% drop in energy charge from our members’ original rate. For a more detailed outline of blend and extends, click here to read our blend and extend blog.
Show Me the Money!
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Savings Are Just One Click Away
If you’re a current member, thanks for reading and don’t be shy to give us a call or send an email. Remember, Energy Ogre is always keeping an eye on the market for better plans to pop up. Again, if you’d like us to perform a market check, please let us know!
If you’re not a member and still skeptical about joining, take a look at one of our other blogs, Why Pay Energy Ogre $10 a Month?
Happy Savings!
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