If you live in a deregulated energy market, like many Texas residents, you receive your electricity from your state designated local utility company, but have the power to choose a retail electricity provider (REP). There are a variety of REPs to choose from in this highly competitive market, with an even broader amount of energy plans and electricity rates available between them all. But how do you optimize your potential savings on your monthly electricity bill with all of these options? Learn more about how to choose an electricity provider.
How to Choose an Electricity Provider
When choosing an electric supplier, you should review your current energy plan and monthly electric bill and compare electric suppliers that serve your zip code. Some of the most important things to consider when switching electric suppliers are the length of the term, finding a competitive rate, checking for any hidden fees, and quality customer service. Read on for more information on how to choose an electric supplier.
Review Your Current Energy Plan
The first thing you should do before switching energy suppliers is find out if your current electric supplier has any early termination fees that you are required to pay. If there are, it is worthwhile to see if you will save more money by paying the fee and switching to a lower rate now, or simply waiting until the term of your current energy plan has ended. Get familiar with your current electricity rate and what the terms of your energy plan are so that you have a frame of reference when you compare different electric suppliers to optimize your monthly savings on your utility bill.
Find Energy Suppliers Near You
The process of finding a new electric supplier online is very easy and straightforward. Head to a third party energy company comparison site and enter your zip code to see what providers service your area. The site will show a variety of fixed, variable and prepaid energy plans and electric rates to choose between and in certain cases will provide in depth detail on the supplier’s themselves. Make sure that you take an in depth look at several different energy plans to get a greater understanding of the many different options that you have.
Compare Energy Plans
When you compare electric plans, there are a few key things to consider when selecting the best plan that fits your needs: electricity rate, fees, and term length. All in all, finding the lowest electricity rate will give you the most optimal savings on your monthly utility bill. However, some electricity customers can find a barrier to entry here when it comes to deposits, credit checks, and longer term lengths. If you need more flexibility or have a poor credit history, you should consider selecting a plan with higher electric rates that doesn’t have these barriers to entry, or going with a no deposit, no credit check prepaid electricity plan.
While those are the first things that you want to consider when choosing an energy plan, there are many other things to consider when deciding which electric supplier you are going to go with. For instance, if you are concerned about your environmental footprint, there are many sustainable energy plans that get their energy from renewable resources. Additionally, many providers offer promotions to new clients such as free nights or weekends to remain competitive. Lastly, you should never have to compromise excellent customer service within a competitive deregulated energy market. It is highly recommended to look for customer reviews of your preferred provider’s customer service on third party energy comparison websites to get an idea of how responsive and reliable they are.
Sign Up for an Energy Supplier
After you weigh all of your options and find the electric company, energy plan, and electric rate that best fits your needs, you can sign up with your new energy supplier on their website or you can call them directly. Whichever way you decide to sign up, it is helpful to call ahead and ask the supplier to send you more information about your desired plan so that you can take a more in-depth look at the terms and fully understand all the details. When you are ready, you can sign the contract electronically on their site or you can sign and return the document in the mail. You will receive power very shortly after!
Save Money By Choosing a New Electricity Supplier Today!
If you are a renter, home owner, or business owner and are considering choosing a new electricity supplier, there are several benefits that can help you be more sure of your decision. While it can certainly help you save money on your monthly utility bill, switching energy providers can also result in receiving much better customer service. It is certainly worthwhile to at least explore the different price options you have by comparing providers, plans, and rates online. Savings are simply waiting to be discovered!