The 15 states where energy is deregulated. You can save approximately 20% on your electricity bill, just by switching providers of energy.
The idea of changing energy providers seems very confusing if not scary. Therefore, this guide makes your work a little easy.
If you go through all these parameters it will speed up things for you. As a result, you will be able to compare the suppliers with more convenience.
Rates
First and the foremost factor of selection is rates, now you have to decide whether you want to go for a variable or fixed rate.
Variable-rate plan, will measure your rate per kilowatt-hour and then will charge you accordingly to the price in the market. This is a better option for people who use most of their energy at non-peak hours (night) as they will save more and will be charged accordingly. In these kinds of plans, you can pay more when the market rate is less. And can end up paying less if the prices are down.
With fixed-rate plans, come stability as you have to pay a fixed amount till a limit of your plan. This is a better plan for those who use their energy at peak hours (day). The fixed rates help you to protect against upswings in costs.
Supplier Reputation
The next factor is the supplier’s reputation as it plays an important role. There are many suppliers in the market and it becomes very confusing to select the one for you. Especially when there are few providers who hid significant rates and charges. As a result, you can easily be tricked by them.
Here at letuscompare, we make sure to identify any additional charges or fees and offer you the actual prices.
Plan Length
The final factor is the length of the plan you choose. It can be daunting to select a six, twelve or twenty-four-month plan. This choice is yours as it has its risks. Risks which can be only chosen by you. Each time you sign up for a fixed-rate energy plan, you agree to pay the current market price for the length of the agreement. So, if prices have gone down, you can potentially save a lot of money and vice versa.
Rates of shorter periods are most of the times higher than longer ones.
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