If you have
not yet switched your electricity supplier, you might not be aware that you
have the power to choose lower utility rates. Doing so can help you save money
each month on your energy bills. The process of switching providers from the
local utility company to an alternate supplier is a simple one. It does not
disrupt the service, or cause the need to disconnect power to change the meter.
On average,
energy consumers that have taken the power to choose
lower utility rates have saved significantly every year. Generally
speaking, the average household can save hundreds of dollars annually, and
small and medium-sized businesses can save thousands of dollars or more.
Even energy
consumers that have made the switch before to an alternate energy provider
still have the power to choose lower rates offered by other suppliers. Every
month, numerous energy providers change their prices for electricity based on a
variety of factors. Some offer fixed rates, where the consumer can lock in a
price for years at a time. However, other providers offer variable rates, which
can often fluctuate.
Switching Providers
No matter
what company the energy consumer chooses, they can always change their mind,
and their provider. Some energy consumers recognize the advantage of purchasing
electricity generated through renewable resources. They use their power to
choose to select companies that create power through wind farms, biofuels,
geothermal processes, solar panels, landfill gases, and other “green”
techniques. Not only do they save money, but they can help the planet, by
purchasing electricity generated through eco-friendly processes.
Depending on
the rate chosen (fixed, indexed, or variable) the energy consumer might need to
sign a contract to achieve the same fixed price for a specific amount of time.
The length of the contract can last 90 days, 180 days, or much longer. Some
contracts contain an early termination cancellation fee, if the energy consumer
backs out of the agreement early.
Once the
energy consumer has taken their power to
choose to switch energy suppliers, the process becomes very easy.
Typically, the new provider will simply ask for the customer to complete an
application form, and at times, make a deposit.