Electricity comes from a monopoly provider…so it’s all the same, right?
No, not exactly.
Shopping smart for electricity can save you a significant amount of money. Especially in these hot summer months! But where do you begin? Check out our tips below!
1. Original providers (the companies your parents used) are not always the best. In fact, newer companies can offer the solid, uninterrupted service that you’re used to experiencing with an original provider, for typically a cheaper price!
2. Consider switching, or at least shopping, for a new company every year. The market is constantly changing, as are the rates, and you don’t want to miss a whole year of savings.
3. Before you shop, be familiar with what you already have. See when your contract expires, what your rate is (fixed or variable) and what you are being charged per kilowatt-hours. You don’t want to fall for a gimmick just to find out you were better off before!
4. Electricity is measured by kilowatt-hours, or kWh. Paying a difference of just 4 cents (8, instead of 12), can drop your monthly bill by at least $100.
5. Choose what kind of rate type you want. Variable rates may be cheaper, but could potentially spike depending on the market. A fixed rate will provide you with more consistency. Decide which is best for you before you choose an electric company.
6. Next, visit www.powertochoose.org. By simply entering your zip code, you will be able to view several offers specific to your area.
7. Before you decide on a company, do your research. Find out what other people are saying in the form of reviews. If you find a troubled history, think twice before choosing them. Don’t pay any mind to only a few poor ratings or reviews. No business is perfect, and there will always be at least a few disgruntled customers. However, if there are dozens or poor ratings or reviews, that could be a cause for concern. You can always consult the Better Business Bureau as well!
8. ALWAYS read the contract! Before signing anything, find out exactly what you’ll be signing your name to. Look for termination fees, contract term, rate plan, and per kWh rate. You don’t want to be blindsided down the road.
Shop Smart & Save
We hope these tips help you shop smart, choose an electric company and ultimately save money! For any and all of your electrical or air conditioning needs, contact The Bosworth Company! We’re worth the call. Always.