Reviews

I tried Griddy – Here is My Review

If you’re reading this review odds are you’re curious about all this Griddy wholesale energy rate stuff…

…or maybe you’re a current Griddy customer who is fed up with the Griddy electricity model and alerts and are shopping around in hopes of finding better energy provider.

If either of these describes you, read on.

If you’re curious about Griddy or want to know how to pick the best energy plan for your home, keep reading. I will show you step-by-step how I switched to a predictable, fixed-rate plan further down this blog post.

But first, let me tell you about my personal experience with Griddy.

Here at ComparePower, we are Consumer Advocates at our core. We live in Texas. Employees here make it a point to personally try out the different providers in Texas so that we can share our experience with our fellow Texans and help you make an informed decision when choosing the energy company for your home or business.

With this mission in mind, I gave Griddy a try myself. Here is my personal experience.

Sections in this blog:
Click on a section to navigate directly to it:
Time to read: about 4 min

  1. Does Griddy Energy Really Save Money?
  2. How does Griddy Energy Work?
  3. Conclusion: Key Facts and Takeaways

 

Does Griddy Really Save Money?

Here’s what I learned.

I know what you’re asking yourself. Is Griddy right for me and will it save me money?

The answer is it depends…more on that later. For now, I’d like to share my personal experience with Griddy in hopes that it can guide you in making the best decision for your household.

I started using Griddy midway through September 2019. With the summer months coming to an end and cooler days ahead I did not anticipate a huge demand on the grid and reasoned that perhaps it may be possible to save some money by purchasing electricity in real-time, from the Griddy app.

So I downloaded the app, which they’ve done a nice job with. And after adding $49 to my account I was on my way purchasing wholesale electricity directly from the grid.

In case you do not know, Griddy is a prepaid electric service. You must keep a positive balance in your account at all times or your power will be turned off.

If you’re not used to pre-paying for your power and would rather pay at the end of the month for the kWh you use, then Griddy is definitely not for you.

If this is you my suggestion is to stop reading and enter your zip code on the top right of this page to shop for a traditional, predictable, fixed-rate plan.

Now back to my experience with Griddy. Everything was going smoothly, for about a day.

Much to my surprise, the very next day I received an alarming notification from Griddy on my iPhone:

Wholesale electricity prices had climbed to over 50 cents / kWh and that I should not worry. 

I should not worry? How could I not? Was this a joke?

My heart sank to the pit of my stomach at the thought of what my electricity bill would be that day and admittedly I immediately felt silly for having made the switch to Griddy.

To add insult to injury, I couldn’t believe that I was actually paying Griddy $9.99 a month for this.

Being in the middle of my workday I started thinking about the appliances that were being powered in my home from the washer and dryer, to the refrigerator, and most importantly my air conditioner, which was set to 68 degrees Fahrenheit.

My mind raced as I was trying to calculate how much running these appliances would cost me at a rate of 50 cents/kWh.

Being that I was at work I could not drop everything I was doing to run home and turn my appliances off…which is what Griddy recommends.

In fact, most people I know do not have the flexibility to put down their work in the middle of the day and run home so they can power down their appliances every time an alert shows up on their mobile phone.

To put this in perspective, before I switched to Griddy I was paying on average just under 7 cents / kWh for 1000 kWh of monthly usage.

Griddy was now costing me over 7 times more than my traditional fixed-rate plan that I had found on ComparePower.

Projected prices on Griddy’s app ranged from 10 cents/kWh at noon to $1.00 / kWh by 4 pm the same day. See the screenshot I took personally from my own phone:

Griddy Energy Texas Electricity

Griddy – Projected Prices on September 25, 2019.

 

I then noticed an email from Griddy in my inbox. I dropped everything I was doing to read it.

“High Price Warning Today, 2-6p.m. A hotter than a normal day, coupled with potential generation outages could lead to electricity prices as high as $4/kWh.”

What followed was a list of instructions on how I should have read the future and ramped down my energy usage between 1 and 6 pm to avoid high costs.

The only way for me to avoid high costs and overpaying for power was to leave work and run home to power down my electronics.

I don’t know about you (or the employment hours at the Griddy offices), but where I work employees are required to be present from 9 am – 6 pm Monday to Friday.

Telling my boss that I needed to run home to power down my appliances was not an option.

In case you don’t believe me, I took a screenshot of the email I received on September 25th 2019 from Griddy, and attached it below:

Texas electricity griddy energy

Griddy Energy – High Price Warning

 

Now back to the original question. Can Griddy save you money?

If you can manage to run home in the middle of the day and power down all of your appliances and electronics Griddy may be a reasonable option.

However, even if you have the flexibility to do so is this how you want to spend your day? Constantly worried and paranoid about how much your electric bill will be hour after agonizing hour?

I found myself constantly checking the rate of electricity instead of focusing on what was important and what I had to accomplish during my day.

If you do not mind constantly checking the rate of electricity on your phone, and even if you have the flexibility to run home and power off your appliances you still may not be getting the best deal with Griddy. Here is why.

Griddy states that the average rate their customers pay is 8.8 cents/kWh and that the Texas average rate is 11.3 cents/kWh, thereby saving you money.

This 11.3 cent average is based on a statistic taken from the EIA.gov website, which currently lists it at 11.87 cents/kWh (June 2019).

I work here at ComparePower. We switch thousands of Texans every month.

Most Texans using ComparePower are not paying anywhere near 11.3 cents/kWh. We don’t care which provider you choose here when shopping, but please, don’t pick one for 11.3c!

In fact there are fixed-rate plans for Texas residents on ComparePower with rates as low as $0.067 per kilowatt-hour (kWh) for 1000 kWh. That is far less than the Texas average and the Griddy average rate advertised by them in September 2019. 

How Does Griddy Energy Work?

Like everyone else, the idea of being able to purchase electricity at wholesale prices seemed appealing to me.

For those that don’t know how Griddy works. For a monthly fee of $9.99 Griddy connects its members, via a mobile app, directly to the real-time wholesale energy market, so that, in theory, they pay the same variable prices that retail energy providers and commercial consumers pay, in real-time.

That, however, is not entirely accurate. The majority of traditional electricity providers offering fixed rate prices buy forward contracts at different times of the year, not in real-time as Griddy does.

Since these traditional providers are able to buy electricity at a fixed price for delivery throughout the year, they are able to offer fixed-price contracts to their residential customers without the worry of hourly fluctuations in rates and the burning desire to run home in response to a push-notification alert to turn off that light you left on.

The primary benefit of choosing a fixed-terms electricity plan is consistency and predictability.

The wholesale price of electricity changes approximately every 5 minutes making it near impossible to predict how much you will be paying from one moment to the next.

Griddy does provide a projection for electricity prices for the entire day so that you can plan ahead but in my personal experience, the projections were less than accurate, at times as much as a 70 cents/kWh difference between the projected and actual price.

Conclusion: Key Facts and Takeaways

I really wanted to like Griddy.

It just wasn’t for me. The stress I experienced in response to the random influx of emails and push alerts warning of price spikes on the horizon drove me crazy.

Buying electricity at wholesale prices is unique, but it is highly unpredictable.

At the end of the day, you will need to evaluate your electricity and lifestyle needs to make the best decision for your home.

I myself switched away from Griddy onto a predictable fixed-rate plan that I found right here on ComparePower.

I am now paying 6.7 cents / kWh for 1000 kWh of energy each month, which is about what I use monthly.

I no longer look at my phone or fret over electricity price alerts. That peace of mind alone, to me, is priceless.

Oh, and I am no longer paying Griddy $9.99 a month for the luxury of using their app and exposing me to this unnecessary stress.

I switched providers for free here at ComparePower in under 5 minutes and am enjoying low electricity prices with zero hassle. I can honestly say my life is so much simpler because of it.

Ahhh… the sweet relief of consistency and predictability.

If you are currently with Griddy, my recommendation is to make the switch. It will be the best 5 minutes you will spend today.

Thanks for reading! If you have any questions or comments, feel free to email me

-Enri Zhulati, Consumer Advocate at ComparePower

 

Ready to make the switch? Enter your zip code to get started.

 

Related articles you may be interested in reading:

 

Next Steps: Had Enough of Griddy? Want consistency, predictability, and a great rate?

Switch Electric Companies and Save

Some electricity plans have different discounts, fees, and pricing tiers that may or may not apply each month depending on your usage.

Predict what your electricity bill will cost you for every month of the year before you enroll.

ComparePower will calculate each month’s bill for every plan and show total cost for all bills combined. Now that is powerful!

Introducing our Power TACO™ Tool

If you input all 12 months of usage history, we will show you the Total Annual Cost of Ownership. We call this the Power TACO™.

Find the RIGHT energy company and your best electricity plan in 4 simple steps.

  1. Gather your homes historical usage profile (kWh usage) month by month for the past 12 months. It’s ok if you don’t have all 12 months. The more months the better.
  2. Enter your historical usage month by month into the calculator below.
  3. Click on Compare Rates to compare competing light company rate plans based on your home’s custom usage.
  4. Enroll online or over the phone in about 5 minutes.

 

kWh Usage Pricing Calculator

Input as many months of usage history as you can gather, then click “Compare Rates”.

If you can’t find your usage history, you can still compare rates by home size by entering just your zip code at the top of this page.

How to Switch Energy Companies

Read this now to learn how to choose the right energy plan for your home when switching energy companies in Texas. 

Did you know electricity plans in Texas are priced according to how much energy you use each month?

That’s right. The amount of energy you use each month dictates the rate you pay for energy that month.

This is why it is very important to understand your monthly energy consumption when shopping for a new electricity plan in Texas.

To determine the best plan for your home you need to understand how much energy you use on any given month.

By the end of this short exercise, you’ll know how to compare electricity plan options by total annual cost instead of buying into advertised “teaser” rates.

Find your previous months energy bills or log into your existing energy company website. Write down month-by-month how many kilowatt-hours of energy you consumed last year.

It is ok if you do not have all 12 months of usage. Gather as many months as you can find. The more months the better.

If you can’t find your usage history, you can still compare rates by home size by entering just your zip code at the top of this page.

kWh Usage Pricing Calculator Video

Still confused about why this is so important? This short 2-minute video will show you how to find your best plan on ComparePower.

 

If you’re reading this review odds are you’ve seen Gexa advertise their latest plan, the BOGO, and are wondering if this is a good plan for your household.

We’ll break down the Gexa BOGO plan and explain the details so that you are informed about what this plan is all about. Ultimately we’re here to help you find your best electricity plan for your Texas home.

This plan review is for the Gexa BOGO 12 plan.

Any product or company names, marks or logos shown on this page are the property of their respective owners. ComparePower is an independent marketplace offering free electricity pricing comparisons for consumers.

Time to read: about 4 min

Sections in this guide:
Click on a section to navigate directly to it:

  1. What is Gexa BOGO?
  2. Gexa BOGO in Dallas (Oncor)
  3. Gexa BOGO in Houston (Centerpoint)
  4. Conclusion: Key Facts and Takeaways

 

What is Gexa BOGO?

Now that summer temperatures have officially descended on Texas for the next few months you probably have found yourself turning on your A/C to keep your home cool and comfortable.

However, central air conditioning uses a lot of energy – up to 30 percent of your monthly bill during the hot summer months. That’s why Gexa created the BOGO plan, which stands for ‘Buy One Get One’.

As the name implies, with this plan if you buy one kilowatt-hour you get one kilowatt-hour for free. Said another way, you get 50% off of your “energy charges” every month. If you use 1,000 kWh in energy charges, you’ll only pay for 500 kWh. Sounds great, right?

We thought so too, which is why we decided to take a deeper look at this plan’s Electricity Facts Label (EFL) to uncover the details and show you the real math and cost of this plan.

 

Gexa BOGO plan in Dallas (Oncor)

According to the Gexa Bogo EFL, Gexa charges Oncor Electric Delivery customers an average price of 10.6 cents per kWh for 2000 kWh of monthly usage.

Gexa BOGO EFL for Oncor Electric Delivery in Dallas-Fort Worth

Oncor Electric Delivery serves the Dallas area, which includes Fort Worth, Plano, Arlington, Frisco, Allen, and several other surrounding suburbs.

We’ve included a complete cost breakdown of the Gexa Bogo plan for Dallas-Fort worth metroplex residents as a function of usage in the conclusions section below.

 

Gexa BOGO plan in Houston (CenterPoint Energy)

According to the Gexa BOGO EFL, Gexa charges Houston residents (CenterPoint Energy service area) an average price of 11.8 cents/kWh for 2000 kWh of monthly usage.

Gexa BOGO EFL for CenterPoint Energy in Houston Metro

Centerpoint serves Houston area residents including surrounding suburbs such as Katy, The Woodlands, Humble, Kingwood, and several other greater Houston area suburbs.

We’ve included the complete cost breakdown of the Gexa Bogo plan for Houston Metro residents as a function of usage in the conclusions section below.

 

Conclusion: Key Facts and Takeaways

Free energy is great, but is Gexa BOGO the right plan for you and will you be saving money by signing up for the Gexa BOGO plan?

The simple answer is it depends on your usage. Here’s why…

The only way to really know which plan is right for you in Texas is to know your monthly kWh electricity usage. Or better yet, if you’re switching providers, your historical (kWh) usage for the previous 12-months.

For illustrative purposes, take a look at how the effective rate ($/kWh) varies with monthly usage (kWh) for the Gexa BOGO plan:

Gexa BOGO Cost Breakdown Oncor Delivery (Dallas-Fort Worth Metro)

Gexa BOGO Cost Breakdown: Oncor Delivery Company (Dallas-Fort Worth Metro service area)*

 

Gexa BOGO Cost Breakdown

Gexa BOGO Cost Breakdown: CenterPoint Energy (Houston Metro service area)*

 

*Calculations are based on the plan EFLs posted on GexaEnergy.com as of 3/14/2018. Costs exclude taxes and non-recurring fees.

As illustrated in the cost breakdown above, the key to avoid overpaying is knowing your expected usage and comparing monthly costs for each plan based on that usage amount.

Although electricity is a commodity, it is not priced linearly like other commodities you purchase day to day. Let’s use gasoline as an example to drive this point home.

With gasoline, the “price per gallon” you see on the sign is the price you pay no matter how many gallons you pump.

$3 per gallon. Pump 10 gallons, pay $30. Simple.

Electricity in Texas is not as simple as buying gasoline. The advertised “price per kWh” is based on a specific, exact monthly usage (usually 2000 kWh).

And, each plan has a different calculation for how your monthly bill is determined.

Your effective “price per kWh” can only be determined by calculating your monthly bill, then dividing that monthly bill by your usage.

Advertised “price per kWh” can be misleading because it’s based on a specific usage like 2000 kWh. It’s best to shop based on the total bill for your home’s expected usage.

How do you do that when the math is complex, and every plan is a little different?

ComparePower has already done all this complicated math for you.

If you’re switching providers, we help you find and compile your historical usage. If you’re moving to a new home we help you determine your anticipated monthly kWh usage. Then we show you the best plans and their total monthly cost for your specific usage.

 

Sign up for the BOGO plan

If you determine Gexa Bogo is the best plan based on your usage call Gexa Energy to enroll directly: 855-639-8210

In addition to receiving 50% off your energy charges you’ll get:

  • A straightforward, competitive contract and pricing to meet your needs.
  • Friendly and helpful customer care, right here in Texas.
  • 60-Day Happiness Guarantee.

 

Still not sure if Gexa BOGO is right for you? Don’t sweat it. If you’re not happy with the Gexa BOGO Plan for any reason, just call Gexa Energy within 60 days of your service activation date, change to another Gexa Energy plan, and get the early cancellation fee waived on your first plan.

Enter your zip code to compare the Gexa BOGO plan with other plans on ComparePower:

 

Additional energy plan reviews you may be interested in reading:

TXU Reviewed: Free Nights & Weekends Anything but Free? Let's explore whether TXU as an energy supplier for your home is a good idea.

TXU Reviewed: Free Nights & Weekends Anything but Free? Let’s explore whether TXU as an energy supplier for your home is a good idea.

Let’s take a closer look at TXU.  As one of the longest standing energy companies in Texas, TXU has seen better days.

In recent months, the utility company has been discussing a potential bankruptcy filing in order to clear $32 billion of debt from its books.

Since selling out to a handful of massive corporations (like Goldman Sachs) in 2007, the company has tried its hardest to create a new company image, even changing names to the Energy Future Holdings Corporation.

But there’s a reason the company still struggles. With consistently negative reviews and a notoriously bad customer service program, most of TXU’s promises are too good to be true.

It’s time to reevaluate the real costs of “cheap electricity” from the struggling corporation.

Deal or Delusion?

One reason that customers are consistently drawn to the energy giant is the countless promotions they offer.

Between cash-back loyalty reward programs, self-adjusting “energy-saver” plans, and promotional discounts, customers are drawn like moths to a flame by the savings they assume they’re getting.

But they all get burnt. Taking a closer look at each program shows that the only people getting any benefit from these “deals” are the salesmen who invented them.

“Total Satisfaction Guarantee”

The power to choose your energy provider in Texas is what keeps the deregulated market geared towards the interests of the buyers.

With so many choices, energy companies have to compete for customer loyalty. Leaving one provider for another is a common way to get the best bang for your buck, and TXU knows that its customers are aware of this. They capitalize on this freedom, making energy deals more attractive by saying the customer can choose to drop it at any time.

“Free Nights” or “Free Weekends” end up being anything but free, despite the phrasing the company uses.  The rates you pay for the time it’s not free can add up quickly, and in many cases end up averaging out to be much higher than a no-gimmick plan offered by another provider.

Another examples is their Energy Auto-saver plan, where the cost of electricity is guaranteed below a specific rate.  So when energy prices drop, you save money and if they increase, you’re safe at the initial rate.  According to the company website, total satisfaction is guaranteed and customers can switch for free if unsatisfied.

But according to actual customer experiences in Corpus Christi, leaving this already pricey plan can be shockingly expensive.

On top of the expensive service rate, the hefty cancellation fee, and the inconvenience of dealing with a careless corporation, customers had to repay the hundreds of dollars they saved through the plan! The fine print reveals that it’s only free to leave before your first bill. So much for “guaranteed satisfaction.”

Simply put: ignore the gimmicks.

The only way to guarantee satisfaction is to get informed and find the perfect plan for you, where it’s clear exactly what you’re signing up for.

The power to choose gives every individual the freedom to make their own decision, and one company is helping consumers do just that.

People visit ComparePower to instantly compare electric plans with our unbiased shopping tool that presents all the information you need to make an informed choice.

With easy to use charts for comparison, you can compare any plans you want side-by-side. ComparePower sorts everything for you and puts the most crucial information all in one place.

With just your zip code and a few clicks, you can easily find the perfect energy plan from the hundreds being offered.

Don’t waste your time at a site that’s trying to sell you a specific product – ComparePower is honest and unbiased. Get informed on all the options and fine print, and guarantee satisfaction for yourself.