Having an energy choice is really cool; if you do it the right way, you can get competitive energy rates, outstanding customer service, and overall lower electricity bills. But it comes at a price; if you do it on your own, you might end up with a whole pack of different suppliers, rate types, and not understanding how to compare them.
Luckily you’re not on your own. At Click 2 Power, we can help you get competitive energy rates in just a couple of clicks. That will let you take care of some other important decisions while we take care of the rest. As you’ve seen, we have some blog series to help you understand your power to choose and know how to choose your energy supplier. Right now, let us walk you through our tips to get competitive energy rates.
1. Can anyone find competitive energy rates?
Yes, and no. We’re sure that’s not the answer you wanted to heat; however, only people that live in a deregulated state have access to “energy choice.” In one sentence, you can compare energy rates if your state allows energy deregulation, and hence, you can find competitive energy rates in the market.
This is a reality for almost half of US states as more and more conditions become deregulated either in gas or electricity. For instance, take a look at this map of the US to see if your state gives you the power to choose your electric supplier.
The Energy Policy Act of 1992 removed many barriers to electricity competition. Still, only 16 states, including Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, and Texas, have deregulated their electricity markets since then.
The primary objective of energy market deregulation is to encourage competition among energy suppliers to keep costs as low as feasible. It also allows residential and commercial customers to select their energy source and choose among a wide range of competitive energy rates.
Click 2 Power is here to help you whether you’re looking for a new power plan or a reduced cost. To get started, enter your ZIP code above, and browse and compare energy plans in your region using our free marketplace.
2. Choose the right type of rate that will help you lower your energy bills
We’ll try to make it as simple as possible. When you compare electricity rates, one of the first things you’ll notice is fixed and variable rates. They are rates that refer to the kWh price you pay each month and how it is treated, and if it fluctuates or not. There are advantages to both rates, but what is the one that works best for you? Let’s see:
Fixed electricity rates:
Its kWh rates are fixed – by contract – for a defined length of time; those rates stay the same rain or shine. When comparing energy prices, fixed energy rates are essential since they let you save money and stick to a budget regardless of the outside conditions. On the other hand, they generally imply entering into a long-term deal. If you’re looking to get competitive energy rates, this is the kind of rate you should be looking at.
Variable electricity rates:
They are generally what you will discover if you have never switched power providers. The price you pay each month at this rate might change monthly depending on the market circumstances. So, for example, when our HVAC systems are running at total capacity in the winter or summer, the power consumption is higher, resulting in higher prices.
How your home uses energy determines whether you use fixed or variable rates. When you think about looking for competitive energy rates, the main difference between fixed and variable rates is the level of stability. Monthly bills can be more easily budgeted with fixed rates. With a variable rate, it can be difficult to predict your energy costs.
But what if you are ready to change your energy use in response to market conditions? In this scenario, a variable rate plan could help you save money. On the other hand, many individuals and families may find it challenging to cope with such a lifestyle and unpredictability.
3. Understand how your payment work, the measuring unit
The rate is, of course, an important aspect to consider when looking for competitive energy rates. But where do they come from? How do they work? Understanding the measuring unit – kWh – is what you should consider to really know how much it will cost you, just like you would with any other purchase. For example, when we want to buy anything at the grocery store or a regular store, we prefer to evaluate how much it will cost us in different places and check its measuring unit.
The measurement unit is kWh, which means you will be charged per 1000 watts of energy consumed when it comes to energy usage. So the energy consumption is the required wattage for an item to run and the time it is operating. It may appear complicated, but we assure you that it is not. We recommend you to check out if your rate is higher or lower than your State’s media.
If you want to know how it works more in detail, check out this video from theengineeringmindset.com:
4. Shop around in energy marketplaces
The most straightforward approach to get competitive energy rates is to go to a website that makes the comparison for you. You can do it yourself, but it will take much longer and likely provide the same results. Remember to keep the following in mind before signing up with a new energy retailer:
5. Visit Click2Power.com and get really competitive energy rates
At Click2Power.com, we thrive on making an excellent energy marketplace where you can get cheap rates and top suppliers in your region to discover an energy supplier that meets your needs – all for free. Sign up in just a couple clicks once you filter what’s important for you. Our process can be down into four simple steps that just anyone can follow:
If you require some assistance on the process, don’t worry, you can always call one of our energy specialists, and they will help you with anything you need.