You might have heard that Powershop rates have gone up. Let's look at the real math behind the bills.
You might have heard someone say "Powershop got expensive". Is it true? The answer is: It depends on how you use it.
Powershop's standard rates (if you do nothing) are indeed slightly higher than the absolute cheapest "bare-bones" retailer on the market. If you never open the app, you might pay 5% more than necessary.
Here is the reality check that changes everything:
Even if Powershop costs you $10 more per month than the cheapest provider, the massive $375 Sign-up Credit covers that difference for over 37 months (more than 3 years)!
The math is simple: $375 / $10 = 37.5 months. By the time that credit runs out, you can simply switch to another provider. There are no lock-in contracts. Staying away because of a tiny 1c/kWh rate difference means missing out on $375 free cash.