Nowadays, everyone is looking for new and improved ways to save money. While some people carpool with coworkers and others are shopping less, spending less on your electric bill can save you money in the long run, not just for a few months. Are you ready to switch to a new energy company because you’re unsatisfied with your current company? Are you looking for a better deal than what you’re paying for now? If you’re ready to switch to a new company or look for a new contract, keep reading to discover helpful tips for finding a new energy provider.
What Are Your Current Energy Costs?
Looking at your current energy bill is the first thing you need to do when it comes to finding a new energy company. If you’re unsatisfied with how high your statement is, you’ll want to have the account information in front of you while looking for a new company. After all, is there a point in switching companies if you’re paying even more money than before? When looking at your current energy bill, you’ll want to pay attention to the area that says “price to compare” to see what you’re currently paying. Use this number when comparing different companies.
The Company’s Reputation
You wouldn’t hire a lawn maintenance company with a horrible reputation, so you shouldn’t hire an energy company with an awful reputation, either. Luckily, there are plenty of dependable energy companies to choose from. According to Forbes, the best thing you can do for yourself is find a company that can provide facts as to why they should be your energy provider. The first thing you should do is seek the advice of your friends and family, starting with the people in your immediate area. Ask them if they could recommend an energy company to you, and if they can, what is the reason why they like that company. The next thing you want to do is search the internet for different companies that provide energy in your local area. Write down the information so you can go back and contact each company afterward.Â
Types of Plans
An energy company typically offers three types of plans to its customers. Before comparing each plan, you should learn how to read electricity meter to be better informed about how much money you’ll spend according to your usage. Here are the most common plans offered by most companies:
Fixed-Rate Plan
Fixed-rate plans provide customers with a steady rate, meaning the cost won’t fluctuate with the energy industry, which can be annoying at the very least. If you typically use electricity when it’s the most expensive, at peak hours, then a fixed-rate plan would be the best option because you’re locked into it for the entirety of your contract, no matter how high the prices get.
Variable-Rate Plan
Unlike the fixed-rate plan, the variable-rate plan fluctuates up and down according to the rise and fall of the energy industry. There are also no minimum contracts to be upheld. With the variable-rate program, your energy bill can change from month to month, meaning you could save money throughout the year when peak season hits.
Hybrid Plan
Hybrid plans provide a plan that combines fixed rates with variable rates. Each company has its own hybrid plan, so make sure you speak to the company about its offerings before you decide on a single company.
Length of Your Plan
As we mentioned before, each plan has a different set of energy rates that they go by. The same can be said for the length of time for each plan. While some plans only last from month to month, others can exist for years. Even though short-term plans tend to be more expensive than long-term plans, you can leave the company if you want to once the contract is finished.
Customer Service
It goes without saying that no one wants to pay for a product if it’s accompanied by customer service with a poor or uninterested attitude. What happens when you have a problem with your new energy company that needs to be answered but can’t find an answer on the internet? You guessed it! You’ll have to call customer service to get a response. It can be very frustrating to speak with someone who seems uninterested or irritated when you’re attempting to get help. If you run into poor customer service, consider finding a different company to work with.
We’re lucky to live during a time when there are plenty of energy companies to choose from. Since each company has its strengths and weaknesses, make sure you seek the advice of your friends and family if you run into any problems finding an energy company to suit your needs. What are you waiting for? Take these tips and look for a new company today.
