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My opinion - no. They lock you into long-term contracts at fixed rates that end up costing you considerably more in the long term, or impose a substantial early termination fee (similar to what you'd pay for breaking a cell phone contract) when you want to switch back to your regular electric company. Don't do it, I've heard nothing but horror stories about all these companies. The only real way to reduce your electric bill is use less of it.

There is another thread about this subject somewhere.

Bottom line: You select an energy company to 'LOCK IN A FIXED RATE'. Variable rate plans are often based on the spot market. You save money until you get hit with a cold or hot spell, then BAM! You get nailed.

Choosing a supplier works if you pick a long term rate (3+ years) with the idea that it might be slightly more expensive now, but will save money in the future. There is no guarantee that you will be right.

I lost a few $$ locking in a gas rate but saved a few thousand so far (over 4+ years) locking in an electric rate. I don't know if there are going to be any good rates right now, since long term electric rates are moving up.

Try looking at electricrate.com

Unless you are vigilant, track your usage and switch providers as the terms expire you might be better off with PSEG. An additional way these guys get you is the cancellation fee.

http://www.electricitywatch.org/best-alternative-to-pseg/

My PSE&G bills are way too high and theoretically, since multiple companies can compete for your business on the supply side, there should be some better deals out there. However, it seems like every company I come across is either a scam. Either they try to lock you into contracts, or they're pyramid schemes, or they give you good rates for two months before jacking them up, or whatever.

So does anyone have good experiences with a third party suppliers that have good prices and aren't scams? Ideally something without a contract, as I'd like to back out if the costs don't drop.