How do you find the lowest cost electricity providers?

 In Tips on Electricity Bills

High electricity bills can be a cause of concern and hit the bottom line of your household or business expenses, especially when you see, they are not consistent with your monthly power usage. In the past, when there was only one power utility supplying electricity to your area, you had no choice but to pay the bill. However, Deregulation in the energy market has changed everything.  Customers now have access to the best electricity deals through pricing websites like www.UtilityDiscount.com.Deregulation has empowered the consumer and drives the power producers to become efficient and accountable to their customers.

Let competitors compete for your business

Federal and state authorities permitted the creation of regional and statewide electricity markets, power producers and distributors are supplying to a common electricity grid in a region. Deregulation means your local utility is no longer a local monopoly as they were in the past; they now compete with other power suppliers. This arrangement, like any other market-driven competition, results in lower prices. Power producers and distributors are incentivized to be efficient, reduce operating costs, and enhance the quality of service. You now have the choice, for the first time, to decide which power supplier will provide the electric power or natural gas to be delivered to your house or business by your historic local utility. Deregulation and the creation of a common power market ensure that consumers like you benefit. You have the opportunity to compare the rates and get the best electricity deals for your home or business. Why not do so and save?

Make sure you are comparing the same product (apples to apples)

To derive the best deal, you need to compare the rates properly. For example, you should compare the domestic electricity rates provided by various utilities to your area instead of comparing the domestic rates with commercial ones. Also, start comparing the monthly costs after knowing your expected usage for each plan. Remember, the advertised electricity rates will be based on the monthly use, say, 3000 kWh, with every plan having a different calculation to determine your monthly bill. The actual price per kWh can be arrived at by computing your monthly bill and dividing it by your usage. Many utility bills list the cost of electric power in kWh as a specific line item.  Gas cost per therm is often broken out as a separate line item too. Don’t be confused or misled by random solicitations and offers.  Instead, visit a pricing portal like www.utilitydiscount.com to compare the rates offered by multiple electricity suppliers and choose the one offering the best electricity or gas supply deal.

Do Not fall for teaser rates

While comparing the electricity rates offered by various utilities to your area, don’t fall for the teaser rates. They may be advertisement gimmicks used by power generating and distributing companies to lure you into using their service. However, in fine print, there may be hidden charges that can leave a deep hole in your pocket. Unscrupulous retail energy suppliers competing for your attention may resort to offering seemingly cheaper variable rated. You need to read between the lines of such teaser rates and select the entity offering the best electricity deals. The only sure way to make an “apples to apples’ comparison is to verify the true cost per kWh and then make sure there are no hidden pricing like usage penalties or passed-on costs.  A no thrills 12 or 24 months fixed-rate supply contract is the smartest way to get a fair deal and ensure budget certainty for the average consumer.

Conclusion

Deregulation of the energy sector is a win-win for consumers as they can compare the rates offered by competing suppliers and select the best rate. However, in doing so, one must be aware of the teaser rates and hidden terms buried in some contracts. To get the best electricity deals, visit www.utilitydiscount.com Leverage the opportunity offered by Deregulation.

UtilityDiscount.com
UtilityDiscount.com
The author, Arthur Handelman is a licensed broker of electric power and an attorney who has practised law in the energy area for almost two decades.
Recent Posts

Leave a Comment

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search