V247 Power is a Texas based company offering residential and commercial electricity service to Texas consumers. V247 offers fixed and variable rate plans, and also offers Vietnamese language service.
Our Take On V247
V247 offers fixed rate plans for 12, 24, or 36 month durations. The plans offer versions with a $4.95 base charge and lower price per kWh, or no base charge and slightly higher kWh, so the cheaper option depends on your monthly electricity usage. Early termination fees are high.
We like that V247 is transparent and offers a public history of the past year's worth of variable rate prices on their website, V247 is unique in that it offers services in both English and in Vietnamese. Compare reviews with other suppliers.
|Plan type||Contract Length||Details||Early termination fee||Our Thoughts|
|Fixed rate plans - base charge||12, 24, and 36 month plans||
||$250 - 350||
Recommended: If you use more than 412.5 kWh/month, a plan with a base charge will be cheaper.*
|Standard fixed rate plan - no base charge||12, 24, 36 month fixed
||$250 - $350||Recommended: If you use less than 412.5 kWh/month, a plan without a base charge will be cheaper.*|
*Prices may be subject to change based on time and location, a change in prices could mean a change in the kWh/month shift point at which a base-charge plan or a no base-charge plan becomes the cheaper option.
Savings on Fixed Rate Plans
Customers report that they appreciate savings on fixed rate electricity plans from V247. 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.
Electricity customers should opt for fixed rate contracts of 24 or 36 months. 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.
When comparing the plans with a base charge of $4.95, but a lower price per kWh, we found that for all plans, consumers who use more than 412.5 kWh per month will save money if they opt for a plan with a base charge and a lower rate. Customers who use less electricity, and know that they will not consume more than 412.5 kWh any month will save money by purchasing a higher rate plan absent a base charge.
Green Energy Plans
V247 does not offer any 100% green energy plans, and the 3% renewable content included in their plans is below the state average of 10.7%.
Customer Service Ratings
V247 has an A+ rating with the Better Business Bureau, based on the small number of complaints that have been made against it relative to its size. Customers appreciate the $25 signup bonus, and the $25 credit for referrals, which can be earned for each new customer referred. Some customers have been dissatisfied with the responsiveness of the billing and customer service departments.
Losses On Rate Plans
Customers who decide to purchase a plan without a base charge, but with a higher price per kWh may find themselves overpaying for their electricity if they exceed the 412.5 kWh/month swing point.
Cancellation fees on short-term contracts with V247 are expensive, so customers who think they may have reason to exit a plan before the end of the contract should consider this.
V247 Energy is based in Houston, Texas.
Company Contact Information
Email: [email protected]
V247 Power Corporation
9999 Bellaire Blvd. Suite #1133
Houston, TX 77036