How To Choose The Best Electricity Provider: Choosing the best option can be an implausible and daunting idea. We often make choices over trivial and critical things that may or may not turn out to be good. But by proper analysis we can make a choice that can be real close to the best choice. The same goes for selecting the most appropriate electricity provider. An individual spends $185- $ 200 per month on an average on electricity bills. One way to save your hard earned money is to shop smartly for electricity.
The Internet and electricity have become essential for us. Options to choose internet packages and mobile networks are easily accessible allowing us to negotiate with the most economical deal but in terms of electricity switching from one provider to another is not that feasible. However it’s not an unachievable target as well and thus how to choose the best electricity provider is worth a discussion.
WHO ARE ELECTRICITY PROVIDERS?
The companies that purchase electricity at wholesale from the electricity generators and then sell it to the customers at retail level are known as electricity providers. The general public can use the electricity for domestic and business purposes. The electricity providers work in collaboration with the local utility companies that deliver the power to the consumers.
The local utility companies are often confused with the electricity providers. The utility companies are responsible for handling the poles and wires that bring electricity to our homes whereas the electricity providers trade in purchasing and marketing of electricity to the consumers. So how to choose the best electricity provider allows us to select between the electricity providers and not with the local utility companies. However one can not choose an electricity provider which is not in contract with the local utility company of one’s area.
HOW TO CHOOSE THE BEST ELECTRICITY PROVIDER?
Switching between the various electricity providers is only possible where energy is deregulated, however this process can be potentially befogging and intimidating. Even so, by keeping certain things switching to a more remunerative electricity provider is feasible.
- Cost comparison– compare your current electricity bill to the estimated bill of other service providers. By doing this you can determine the amount you will be saving by switching.
- Contract review– before switching to a new provider, check the details of your previous contract and plan. If there is a bond of time then switching in between will cost you a penalty. Reviewing your current electricity plan and contract will help you to avoid any unnecessary expenses.
- Check rates– electricity rate determines the electricity bill. Switch to another service provider only if it offers you a rate lower than your current electricity rate. If you are unaware of your current rate check it under the supply charge column in your recent electricity bill. It is the price that you pay to your electricity provider to supply one kilowatt of the power.
- Authenticity of the supplier- try to check if the supplier is authentic or not. Visit their website and check for authentic reviews.
- Customer ratings– check the ratings and reviews of people who have already used or are currently using electricity from the supplier you wish to switch to.
- Lodge query– ask the electricity supplier about the hidden charges if any. Try to get the detailed process of billing. Ask if they wish to change the basic rate in the next few months after you switch to their service.
- Select the right plan– the electricity providers offer different types of plans like fixed rate plan, variable rate plan, prepaid plan and many others. Taking your comfort into consideration, decide what plan suits you the best. For instance, if you choose a fixed rate plan your bill will be generated on the same rate every month till the end of the contract. This is irrespective of the electricity price fluctuations. If you choose a variable rate plan then your bill generated will vary as per the varying rate of electricity.
- Wait for discounts and freebies– some electricity providers offer huge discounts to lure the customers. You can take advantage of these discounts while switching to a new network.
Before switching to a new provider you should ring your old retailer and ask them why you should stick to them. This may make them offer you a discount and new plans. If the reply is not satisfying enough you can switch to a new provider anytime as we have already discussed how to choose the best electricity provider. In countries with power deregulation you can switch to a new provider until you find the best one but this facility is not available at every place.
It is advised to check the possibility of changing to a new electricity provider in your area before indulging your time and labor into it. The electricity providers these days also offer different sources of power and electricity supply like green energy and solar energy but the cost of these may vary.