MyRate Energy Reviews

scam, no salary, commission only, management drunk in office,

This company has taught me how to lie and deceive consumers into overpaying for a service they do not need. MyRate Energy is a third party energy supplier that provides fixed rate programs to companies for up to 5 years, similar to a fixed mortgage rate. Sounds good, the only problem is their “Special Fixed Rate Offer” is sold at a 200% to 300% markup compared to variable rates set by the government. They purchase energy from the utility in bulk then they sell that energy to unsuspecting business owners at a much higher rate than the utility’s rate. Do your research. Wholesale market rates have been steady for the past 7 years averaging under 2 cents per kilowatt-hour. MyRate sells their fixed rate program at over 5.5 cents per kilowatt-hour (300% mark-up). Since no one in their right mind would pay a 300% premium to fix their rate they have to lie. They lie to customers about how they are billed by their local utility. They lie about how they save people money through their programs. They create fictitious documents and reports that are dishonest. They tell customers they can cancel at anytime with no penalty which is not true. They teach you how to “SPIN” data in your favour to deceive customers into thinking they are saving money and making a good decision when in reality they are paying 2 to 3 times more than what they should be paying. I know companies who are currently partnered with MyRate who are unknowingly overpaying $100,000 a year for their energy supply. These companies are given fake reports to show savings when in reality they are being gouged. It’s criminal and needs to stop. Their Blend & Extend Program is not what it seems. They say they will lower your rate when the market falls so you can always be in a saving position. During Covid when rates fell significantly we did not lower one customers rates. The man who runs MyRate Energy is a convicted fraudster who spent 3 years in prison for his involvement in a series of fraudulent companies. Their management motivates through fear by verbally abusing their reps. They lie about absolutely everything and cannot be trusted. Stay away, you have been warned.