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Before signing any contract promising energy bill savings, read the fine print Before signing any contract promising energy bill savings, read the fine print

Read the Fine Print

 
It's a good rule of thumb to be suspicious of anyone selling something door-to-door. And that goes double if the person is promising to save you big money if you sign a contract. Recently a company in New York named IDT Energy has been selling energy plans to area residents promising savings of "up to seven percent off your utility's rate" for gas or electricity. The fact this discount only lasts for the first two months is nicely hidden in the fine print of the contract. After that period, energy costs switch to a variable rate. IDT customers can cancel contracts with 15 days notice, but some energy discount companies are said to charge high exit fees. IDT bills their program as the Switch & Save but it sounds more like Bait & Switch to me. Kudos to the New York Post for investigating these shenanigans.







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