On October 1, 2015, Champion Energy Services became a part of Calpine (NYSE: CPN). Calpine is a generator of electricity from natural gas and geothermal resources. Champion Energy currently serves residential, commercial, industrial, and governmental customers with its deregulated electric energy. The company currently offers service in 13 different states, including Washington, D.C., with more than two million residential customers. Champion Energy is also looking to expand its services in Rhode Island and New Hampshire in the near future.
Champion Energy Services rises to the top in one particular, and important, area. It offers one of the best rates in the deregulated energy industry for electricity. The company only charges customers 5.7¢/kWh as a fixed rate and 6.1¢/kWh as a variable rate.
Another nice perk to Champion is that it offers monthly contracts, which means customers can choose when they can come or go. Sometimes consumers like the option of long-term contracts solely because their prices are fixed and won't change. But since Champion Energy already has good electricity prices, you might feel a little safer and confident about not having to sign up for a 24-month contract. Either way, if you sign up with a monthly contract or a 24-month contract, you're getting yourself a great deal.
Surprisingly, not all companies offer as many options as possible when it comes to paying bills. We specifically look at debit and credit cards, electronic checks (ACH forms), physical checks, and bank account options. Champion Energy is one company that does offer all these options. This is great because customers can change their form of payment whenever they need to and they have the ability to pay with their preferred method instead of being limited to only a couple options.
Champion Energy Services also does not charge a minimum usage fee. You'll find that many companies in the deregulated energy industry tend to charge for this so that the company is getting its money's worth. It is unique to not see a company charging this fee and it makes a company stand out from another. It seems that Champion Energy does not try to add any additional charges if necessary.
Champion Energy does have some areas of weakness, including some undisclosed information. We found that the company does not publicly publish its natural gas rates online which makes it hard for those customers prefer that option. Champion may not even offer this option, but again, it has nothing published on the site to say whether or not it does. Also, we could not find a deposit amount. We find that a lot of deregulated energy companies do require a deposit and in this case Champion does not disclose that online. This could be a deciding factor for customers who like to know up front how much they will be charged.
When it comes to miscellaneous charges, we have found that Champion Energy is fair in most cases. We did notice that Champion's termination fee falls in the average section of $150. Many companies charge this much, but if Champion wants to beat out other competition we have seen other companies charge less than this. Also, Champion does charge a fairly high cancellation fee in the event you do not like their service. Along with several other companies, Champion charges 5 percent for a 12-month contract. Even though this is a high percentage, Champion will come out a little cheaper than the other companies who also charge 5 percent, solely because Champion has such cheap electricity prices.
Haidyn Houtz South Jordan, UT
3 years ago