These days, everyone is trying a little harder to get more bang for their buck. Whether it’s switching your credit card to one with a lower interest rate or trying to choose a cheaper energy provider, we all seem to be searching for a better deal. Sometimes this can be a little more difficult than anticipated-especially when you’re talking about something with as many factors involved as shopping for a electricity supplier. Below you will find a few tips to make your search a little bit easier.
1) Take a closer look at the company you’re currently using. The most important step in shopping around for a better energy provider is to know what you have to begin with. Are you happy with your current provider? If you’re shopping around, chances are there is something you’re not quite satisfied with. Ask yourself what it is that you’re looking for. Are you displeased with your provider’s customer service? Or are you more concerned about the rates you’re paying? Asking these questions now will make it much easier to know what you’re looking for in a new company.
You may also want to start out by talking to your company. Perhaps they have a different plan that you’re eligible for that could save you money each month. Or maybe you could lock into a rate, which would make budgeting much simpler (though you may pay more than you would otherwise, some people like the stability of knowing exactly how much they’ll owe). They may also have other services that you’re not aware of-anything from the use of renewable energy to a budget program. Any of these options may make your current company a lot more appealing to you than before you knew about all of your choices.
Another factor to take into consideration is whether or not your current contract includes a cancellation fee. This could make a difference in the amount of money you actually save by switching to a new provider. If your contract has a large cancellation fee, you might want to wait until it expires to switch providers.
2) Compare prices. This is probably the most obvious tip. You should definitely shop around to see which company offers the best prices. Make sure to ask for the price per kilowatt-hour and whether or whether any fixed fees are included in their quotes. This makes it much easier for you to compare.
It’s also important to find out whether or not there’s room for negotiation with regards to prices. Many people choose to get billed at a fixed rate. This means that no matter how high prices may go during their specified contract, they will pay the same price. On the flip side of this, if prices drop they may also be locked into that price. Some companies give you the option to renew your contract at a better rate. You should know whether or not this would be available to you before you sign a contract.
3) Be sure to check out a company’s track record before switching. You definitely don’t want to change providers blindly, going by nothing but a price that sounds good to you. That could come back to bite you in the end. You should know how long a company has been in business. Brand new companies may not be as stable as their more established counterparts. You run the risk of the company going under and having your contract shifted to a new provider with higher prices.
The Internet can be a great resource. Do a little digging. Search the name of the company you’re looking into and check out the links that come up. Is there a lot of negative feedback from consumers? Or does mostly positive information surface? This can be an incredibly useful tactic.
Included in this is learning a bit about the company’s supply. You should ask whether or not they purchase their supply in advance or if they purchase it based on current costs. Providers that buy power with a long-term contract are often more stable than those that buy at the current cost. This is because if there’s a sudden hike in prices, the provider without the long-term contract could find itself in financial trouble.
4) Learn more about the company you’re thinking of switching to. Will you have to pay them a deposit? What happens if one of your payments is late or if you miss one? Are they flexible? What is their environmental impact? It’s essential to get answers to questions like these-and any others that are important to you-before you sign on with a new company.
Remember this: when searching for a new energy provider there is no difference between the actual products companies provide. The energy you get is going to be the same regardless of where it comes from. The differences are in areas like pricing, billing options, customer service, and the stability of the company. These are the areas you should focus on when researching a new utility company. This is where Dynowatt makes a difference.