How to Cancel Xcel Energy

Subscription in Few Steps

Xcel Energy Refund Policy

Cancellation of your Xcel Energy subscription necessitates awareness of their refund policy. For example, some situations in which customers can get a refund are:

Billing errors: A customer may have been charged more or incorrectly billed for the electrical energy they use. In this case, they can contact the customer service team at Xcel Energy to ask for a refund.

Overpayment: If you overpaid your bill, then you merit being refunded.

How Much Can You Save After Canceling Your Xcel Energy Subscription?

Stopping your Xcel Energy subscription can save you a lot, depending on how much you pay monthly. For instance:

Average Monthly Bill: Canceling your subscription saves you $1,200 annually if your average monthly power bill amounts to $100.

High Usage Bills: For bills exceeding $200 per month, the annual savings from cancellation would be around $2,400.

Low Usage Bills: With as low as a $50 monthly payment, however, the annual savings could be $600.

Where To Invest That Amount?

Emergency Fund

Building an emergency fund helps ensure financial stability. Save three to six months' living expenses in a high-yield savings account that can cover unexpected medical bills or job loss.

Education Savings

Saving for education by investing through a 529 plan can help defer future educational costs. They also provide tax benefits besides being used for paying tuition fees and books, among other educational expenses.

Alternatives to Xcel Energy

Mingyang Smart Energy

Known for creating new concepts, Mingyang manufactures wind turbines and solar power systems. The company specializes in making renewable energy products that are efficient and cost-effective to help support global sustainability objectives. 

Duke Energy

Duke Energy serves millions of people throughout the United States as an essential electric power holding firm. It combines a variety of fuel types, including coal, natural gas, nuclear power, and renewables. 

Conclusion

While you may find reasons to keep your Xcel Energy subscription for the provided benefits, canceling it can lead to significant savings. If you want to invest this money and take a step towards your financial security, try Beem! You can get insights on your financial health, take personal loans, or monitor credits all in one place!