You can switch your energy supplier if you live in a deregulated area. Energy suppliers buy large volumes of electricity at wholesale value and set customer terms and rates. They typically provide customer service and billing.
Enter your zip code to see if your home or business is eligible for a new electricity rate. Then, compare plans to find the right solution for you.
You’re not satisfied with the service
If your supplier has a poor customer service record, it’s time to look elsewhere. This can include long call waiting times, unanswered emails, or incorrect direct debit amounts. If you have a complaint, ask a supervisor to speak with you and keep a written record of your interactions with the representative.
It’s also possible that your energy rates and plans no longer match your household needs. Your free nights and weekends plan is no longer a good fit, or you need to use more electricity for your bill credit rate. It’s worth shopping for a provider offering competitive rates and plans.
Another sign that it’s time to switch your electric company is when you hear noises from your breaker box, mainly if they sound like hisses or clicks.
This is usually a sign that your breaker panel is outdated and needs to be replaced immediately by a professional electrician. The breaker box is where the electricity comes into your home and filters through to individual outlets throughout the property.
You’re paying too much
Many consumers believe they can only choose their electric provider through their utility, but with deregulation, customers can now select a different energy supplier. An electric company in Fort Worth, for example, is an established electricity supplier that offers competitive rates and a variety of plans to meet the needs of homes.
When heating costs increase, hefty energy bills are expected during the winter, but a higher bill without a change in your consumption is a sign that your current supplier may be charging too much. Some energy providers also attempt to compensate for declining revenues by raising fixed fees – money charged regardless of usage.
This can cause a big spike in your monthly bill, so checking out the rates and plans available from other energy suppliers before deciding is essential. Switching to a new supplier is quick and easy, but you will want to ensure that your contract expires before switching, or you could face early termination fees.
You’re experiencing frequent outages
If you’re consistently experiencing power outages, it may be time to switch your electricity provider. Frequent outages can be disruptive and cause a loss of productivity for businesses that rely on electrical equipment.
Power outages can occur for a variety of reasons, including weather. Storms, snow, and ice can cause damage to infrastructure, while wind, heat, and rain can cause trees to fall onto lines. Additionally, animals can be a source of outages, especially squirrels that chew on fuses and transformers.
Another reason to consider switching your energy provider is if they’re increasing prices without notice. Reputable ESCOs will give customers plenty of warning before they raise their rates, so if yours isn’t doing this, it may be time to find a new provider.
If you’re experiencing frequent outages, it’s also a good idea to have a backup generator to continue operating your business when the power is out. This can help mitigate the monetary losses that the loss of critical applications and services could cause.
You’re on a contract
In deregulated markets, you can shop for a new electricity supplier. This company will set prices for different rate plans and provide customer service.
It will also manage the poles and wires that bring electricity into your home. Switching to a new supplier won’t affect the reliability of your service. However, your public utility will still be responsible for infrastructure maintenance, outages, and metering.
Whether on a variable or fixed-rate plan, you can cancel your contract without paying an early termination fee. But you’ll want to review your agreement to see what fees may be attached.
Electric suppliers are typically obligated to notify you of your contract expiration date 30 days (or one billing cycle) in advance, allowing you to select a new provider before your current contract ends.
But, if you cannot find a good deal during this time frame, you can still sign up with ComparePower, which has short-term contracts available. And the process of making a change is easy! Your utility will notify your new supplier, handling everything seamlessly.
You’re using too much electricity
If your electricity bills are consistently increasing, switching is probably time. This could be due to several reasons, such as leaving lights on or using ceiling fans that draw energy when unused. It could also be because your home’s outdated electrical system has to work harder than a newer model to funnel power through your house.
If this is the case, consider switching to a provider that offers renewable energy or other green options. These providers can offer lower rates than your current supplier.
If your area is deregulated, you can choose your energy provider. Your local utility will still manage things like delivering the energy and maintaining the wires and poles.
However, they cannot charge you what they want, and you can switch suppliers to get a better deal. Make sure you take the time to shop around and compare prices before making a decision. You might be surprised at how much you can save.