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It’s simple to find a new energy provider. As a customer, you benefit from competitive energy markets, giving you the power to move to an energy provider that meets your needs. But on selecting an energy provider, the sheer number of possibilities might be daunting.
Your electricity provider is the one in charge of deciding the prices you pay for your energy supply. At Click 2 Power, we want to help you with the Best Tips to Compare Electricity Providers so you can Empower your Energy, and make the right choice.
One simple strategy to save your hard-earned money is to shop wisely. Here we will give you a brief introduction to what is a deregulated market, and how to compare electricity providers.
Deregulation the key to saving money
If you want to understand how deregulation works, start by knowing that legislation made a clear division from Utility Companies, REPs, and Generators. In a nutshell, Generators are the ones who–as the name says–generate the electricity; Retail Electricity Providers (REPs) are the companies who buy bulk quantities of this energy on the wholesale market and resell it to you–the end customer-; and the latest, the Utility companies are the ones in charge of the transmission and distribution of the energy.
We know that switching may be frightening, but we want to make it easier for you to compare electricity providers. We will guide you through the various elements to consider when you compare electricity providers.
Let’s begin with the tips
1. Customer service
You must have heard that customers are always right. Customers must be at the core of every company. When looking to compare electricity providers, make sure they can offer you reliable, timely customer support when you need it.
Be aware that if you have a power shortage, the one responsible for restoring the service is your utility company. Your REP must provide efficient support by answering all your questions. If you decide to use them as your new energy supplier, how fast they respond and how effectively they communicate with you through that process will give you an excellent picture of how things will be in the future.
You should check also when this customer service will be available for you and by which means. Is it by phone, bychat, do you have to go to their office? This can make a huge difference while you face a difficult situation.
2. Rates and contract terms
You need to analyze your current consumption to find out what rates can benefit you the most and how long do you want to stick to the same supplier. To compare electricity providers, we will give you a brief introduction to the two-most common-rates:
- Fixed-rate plans:
These plans guarantee that consumers will pay the same price per unit of energy (kWh) for the term of the contract.
- Variable-rate plans:
On these plans, the kWh price might fluctuate. This can be due to peak seasons (like summer) or times a day. These often run on every month and make it hard to estimate or budget your monthly expenses.
The energy market can be volatile. So when you compare electricity providers, we strongly recommend you to look up fixed-rate plans. This way, you can lock in the kWh and throughout your whole contract, having the peace of mind that your rate will stay the same regardless of the seasonality, peak times, etc.
On contract terms, if you’re in a variable-rate plan, you will find that there is often no duration of it. However, when it comes to fixed-rate ones, you will face selecting between 6-, 12-, 24-, 36- or even 48-month plans. Often, the longer the term, the cheaper the rate. Try to understand the cancelation fees, the different barriers to switching suppliers—this way you won’t have to face unwanted surprises when you decide to make any change.
3. Make sure you’re talking to a licensed energy provider
When you want to compare electricity providers, you must verify that the energy provider is licensed in your state and that it serves your area. Regulations, tax incentives, market pricing, and other factors differ by state. Your energy supplier must be familiar with local rules and standards to guarantee you follow them while still getting the best deal. You can find the license number in your state utility commission.
4. REP’s history and reputation
With the increasing number of energy suppliers, it’s hard to choose the right one. Check up on energy supplier reviews, compare electricity providers, find unbiased reviews from your friends, and family. Make sure you do some research on the company’s history and reputation. If you find one energy supplier that has been in business for a long time, this may be an indicator of how reliable this company can be.
When you compare electricity providers and find out one that has a long-data story, it may have experience helping businesses or homes like yours. They might understand your needs and give you better energy solutions.
5. Conventional or a renewable energy source?
Energy can be produced by different sources. It can be conventional and come from fossil fuels, such as coal, petroleum, and natural gas. Or it can be renewable, produced by solar, water, wind, and geothermal energy. You can compare electricity providers and check for the generation options they offer. You may get some or all of your energy from sustainable and renewable sources in specific areas. A good provider will offer you a variety of alternative energy options.
Does this sound a little overwhelming? Don’t worry, we’ve got you covered!
At Click2Power, we do this research for you, making sure you end up with the best offer. We compare electricity providers to make sure we give you:
- The best rates
- Easy enrollment
- Full control of your costs with fixed rates
- No Hidden fees
- Exceptional customer service!
Do you want to learn more about how you can benefit from Energy Deregulation? Feel free to call us now at (833) 680-2025 or fill-up the form on our website—one of our energy experts will be willing to help you with all the information you may need!