Power Wizard is a service designed to make shopping for electricity services a bit easier. But is it worth it? Here, we’ll break down the pros and cons.
Shopping for electricity can be a confusing and time-consuming experience. Between wading through plan information and vetting providers, it can seem like such an arduous process that many people just want to throw their hands up and forget the whole thing. In a way, you can do that with a service like Power Wizard.
What Is Power Wizard?
Power Wizard is a service that customers can sign up for to help navigate the retail electricity market and ultimately find the best electricity plan. The way it works is that you provide information to Power Wizard, who does the electricity plan shopping for you. They’ll compare the best plans and present them to you in one portal so you can avoid the hassle yourself.
What Are Power Wizard’s Pros & Cons?
Power Wizard might seem like it makes sense. After all, there are a lot of retail electricity providers in Texas, and it can be daunting to do your own shopping if you’ve never done it before. A reliable-looking service that appears to have all the answers can seem like a great solution, but what else should you know? Let’s break down the pros and cons of Power Wizard.
Con: Power Wizard Is Owned By NextEra Energy
Power Wizard says they’re not compensated by retail electric providers. However, Power Wizard is owned by a company named NextEra Energy, and NextEra also owns Gexa Energy. Power Wizard says that doesn’t influence which plans they select, but it’s still good to know and factor into your decision.
Pro: They’ll Handle the Process for You
Power Wizard can provide the type of solution you want if you don’t have any time to shop for electricity plans. Compile info, compare providers, make a recommendation — they’ll do it all. At least, they say they do. It would require sophisticated software to keep up with the ever-changing electricity market that changes daily. A review of Power Wizard’s website doesn’t provide detailed information on how, or if, their platform is able to keep real-time tabs on everything. That is the price you may have to pay for the convenience.
Con: Power Wizard Costs Extra On Top of Your Electricity Service
Power Wizard has two pricing structures. The first is a partial membership for a one-time fee of $14.95, and the full membership is $89/year. With the partial membership, you still have to do the work of enrolling with their suggested provider. A major downside to Power Wizard is that all the information you’re paying for is available for free on the Power to Choose website. Yes, they handle the chore of sorting the data, but you’re still getting repackaged free information, not an inside edge.
Con: You Might Not Save Any Money
Power Wizard will compare electricity plans and providers and put all that information in one convenient place, but there’s no guarantee that they’ll direct you to a cheaper plan than you have now. If you sign on with Power Wizard for a year and currently have a year-long electricity contract, early termination fees might make Power Wizard’s recommendations useless.
Con: Power Wizard’s Algorithm Might Not Be Exact
Another downside to Power Wizard’s partial membership is how they select which plans to recommend. Currently, they do this based on estimates of the year built, HVAC, and square footage of your home. This type of approach could assume usages that vary from what might be accurate for your household.
Con: Your Participation Is Required
If you’re considering signing on with Power Wizard because you want them to take care of everything, know that your participation will still be required. You’ll be presented with options and have to make decisions. So if you want a total set-it-and-forget-it solution, ask yourself how much of your free time you want to spend thinking about what’s going on with your electricity plan.
Con: You Only Communicate With Power Wizard
Another downside with Power Wizard’s service is that you don’t communicate with the actual retail electricity provider, you only talk to Power Wizard. This might be described as doing you the favor of handling the customer service for you, but it might simply be adding another layer of bureaucracy to the process. Think about it, if you have an issue, you’re now relying on two customer service teams instead of one.
Get a Low, Fixed-Rate Plan With a $0 Membership Fee at Energy Texas
Are you paying way too much for electricity on your current plan? Maybe you’re moving and need a new plan, or your current plan is expiring. Whatever your situation, you don’t need Power Wizard to save money or get a good electric rate. Check out our plans at Energy Texas. We have a variety of fair, fixed-rate plans to fit your needs. Then you can have the peace of mind that you’re getting a great rate and keep your $89 a year.