Reducing your electricity bill can be one of the best ways to drastically reduce your monthly expenses. The clever consumer will find that searching for a better electricity rate is far from a waste of time.
The first step is to check and see if the market in your area has multiple power providers or plans. In both cases, you can examine the offered plans to see if you can find one that will lower your monthly bill. This can be especially promising when multiple companies are competing for your business.
Electricity Rate Comparison: Shopping Around
At this point, in order to avoid wasting your time, you should consider your needs. Does your power usage vary from month to month? Does your area have very hot summers or cold winters? In such a case, you probably want to find a flat rate plan that averages out your payments over the year.
In addition, when shopping around and looking at competing electricity rates, you should see if the plan drastically increases your price per kilowatt-hour if you go over some usage limit. Not all plans have such clauses, but some do, and that can provide a very unpleasant surprise at the end of the month if you didn’t notice it before you signed the contract.
Also, make certain that the new rate is a stable one, and cannot be suddenly changed. A good plan will have a limit on how much the rate can be raised in any given period, as well as requiring some form of prior notice. Before you take a chance on a new plan, you want to make certain your
Chance or Waste of Time: Evaluating the Company?
Finally, examine the company’s reputation. A cheap rate will not help you at all if you are dealing with continual errors in billing, and you cannot get in touch with anyone to rectify it. Checking with consumer protection agencies is a good way to determine what sort of reputation the company has. Also, talk to their representatives to see if they are informed and polite, before you make your final decision.
Remember, you will be dealing with your new provider for a long time, so make certain you are comfortable with your decision. An informed choice can both save money and make your life more pleasant.