Verde Energy USA (also known as Low Cost Power)'s mission is to is to provide competitive energy rates while making it easy for consumers to go green and support renewable energy resources. The company supplies energy to over 300,000 customers across seven states.
Our Take on Verde Energy
With the right fixed rate plan, we think Verde Energy has the potential to be a good choice of supplier. We like that Verde Energy appears to have a relatively low record of complaints against the company, and customers interested in supporting green energy will find Verde Energy's rates attractive. However, the company is not without a few warning signs - Verde Energy has faced legal action regarding its sales practices.
Verde Energy Electricity Offers
All Verde Energy offers are fixed rate plans with some percentage of green energy (up to 100% in some utility service territories).
Unlike many fixed rate plans, there are no early cancellation fees with Verde Energy. There are also no contracts or deposits necessary.
Lengths of fixed rate plans include:
- 4 months
- 6 months
- 12 months
Offers available depending on your state and area code. Call us at 347-410-8789 to find out what is available in your area.
After switching to Verde Energy you will still receive just one bill from your local utility company.
Explanation of Plan Options
Fixed vs Variable Rates Options
A fixed rate does not change over the whole period of the contract, meaning that for the length of the contract (3, 6, 12, or 24 months) the price you pay for electricity in ¢/kWh does not change. In general we recommend choosing fixed rate contracts of at least 12 months or more. As electricity prices per kilowatt-hour fluctuate throughout the year, and you may actually lose money by not being able to take advantage of prices when they are low. However, because electricity prices tend to increase over time, locking in fixed rates for longer periods may prove advantageous and deliver savings. You can find more information about fixed rates in our guide.
In general, we do not recommend variable rates, as most customers report negative experiences with them. With prices not guaranteed after the first month, variable rates tend to be highly unpredictable. Find out more about variable electricity prices in Texas.
Some customers have reported savings on fixed rate electricity plans from Ambit Energy. Fixed rate plans can often be a good deal if you are able to lock in a good rate at the right time of year.
Base Charges/Minimum Usage Fees
Base charges are flat charges that are charged every month regardless of the amount of power consumed. Minimum usage fees, a common feature in Texas electricity plans, kick in when customer consumption is below a certain minimum monthly threshold. Verde Energy charges a $4.95 monthly base charge, but does not charge minimum usage fees for plans in Texas.
Depending on your location, Verde Energy may offer plans containing anywhere from 2-100% renewable electricity.
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Customer Reviews of Verde Energy
Customers are satisfied with their savings on Verde Energy's fixed rate plans, and also the flexibility to cancel for free (except for Texas customers, who face a $150 early termination fee for ending their 12 month contract early). Consumers also appreciate having an affordable renewable energy option.
However, some customers feel that sales practices may be misleading about savings on some plans.
Read more customer experiences, including our take on Verde Energy, on our Verde Energy customer reviews page.
Customers can get up to $100 cash back for signing up with Verde Energy.
About Verde Energy
Verde Energy is based in Connecticut. In addition to providing to green electricity to individuals in 7 states, Verde Energy is also involved in municipal aggregation and smart grid schemes.
Verde Energy Service Areas
Verde Energy participates in municipal aggregation schemes. This is where communities band together with the help of their local government to negotiate for lower prices for their community as a whole. Some of the communities served by Verde Energy include Evanston, Illinois.
Additionally, in Naperville, Illinois, Verde Energy is investing the funds necessary for a smart grid green energy storage system called Ice Bear. One of the most exciting aspects of smart grids is that they allow for two-way flows of power. Excess electricity that is not used in consumers' homes is normally wasted. With storage and smart grids, it can be sold back on to the grid and stored for later use by other consumers.
Additionally, smart grid storage systems help to manage demand. They store electricity during times of low demand, so that it can be used later when demand is high, thus reducing stress on the grid and generation infrastructure.
Verde Energy Sales Practices
Verde Energy has been the subject of legal action in the past with regards to its sales practices. In 2015 the company faced a class-action lawsuit over the prices it charged on variable rates, and in 2014 was presented with several lawsuits over telemarketing practices in Pennsylvania.
Automatic RenewalsVerde Energy will automatically enroll customers in a month-to-month variable plan at the end of a fixed price plan, unless customers decide to switch suppliers or choose another fixed rate. Watch out for attractive fixed rates on very short plans (3 months - 6 months), as the variable rate that you may be charged after may not be nearly as good of a deal. Always keep track of the end date of your plan and don't forget to shop around for a new rate when your plan nears its end.
Contact Verde Energy
You can reach customer service for the company at 1-800-388-3862, open 24/7. Find more detailed contact information on our Verde Energy contact page.
p class="asavoir">Interested in Verde Energy?
We're here to help. Call us at 347-410-8789 to speak to an energy expert and find the lowest rates available in your area!