What to know when electricity shopping

There are two points on which every customer should judge an electricity provider: cost and reputation. Before deregulation, there was only one provider for electricity and you paid whatever they wanted you to pay. It didn’t matter how they treated you because there was nowhere else to go. Now, you can actually choose your own electricity provider and subsequently the rate you pay.

What to know when electricity shopping

Some companies out there may offer a great low rate but terrible customer service. Some offer great customer service but high rates. When you find that unicorn company that offers both, you have a winner. It’s best to switch providers just about every year because market conditions constantly fluctuate and what was a good deal last year may not be so good this year. Each year, just before your contract renews, start researching new electricity providers. Look for both low cost plans and customer reviews of the provider. We can help you by comparing several companies at once.

 

You’ll also definitely want to refer to each promising plan’s EFL because this document will give you all the details about the plan including a pricing breakdown, electricity content, and whether the plan is fixed (locked in rate for a contract length) or variable (rate changes every month based on market conditions, but no contract). Don’t feel like you have to go with a big name company because you heard their actual electrical service is more reliable. Electricity is the same, no matter who is selling it. Your local utility is the one that ensures electric stability, not the provider. So if you find a plan that has a wonderfully low rate and good customer reviews, go for it!