If you’re wondering how to choose energy provider, you’ve come to the right place! Choose energy provider is not only beneficial, but also extremely simple. If you live in a deregulated energy market state, you have the power to find the best energy supplier for you. Electrical companies control how much you pay for your power. So knowing what to look for while shopping for a new electricity supplier is key to finding the best rates.
Here at The Energy Professor, we want to give you the information you need to not only save money on your energy bill, but to also become more energy efficient. We hope find this post helpful and makes you more confident in your decision to switch gas and electricity providers. Be sure to also check out our one of a kind energy savings calculator!
Why Should I Switch My Energy Supplier 2024?
Reasons to switch your energy supplier can depend on many factors. Maybe you’re moving to a new home or apartment, opening a new small business, or simply looking for better rates from different energy providers. Your energy consumption differs from those around you, and we think your rates should reflect that! If you live in a deregulated energy market, you have the power to find the best rate for your specific usage.
Reasons to Switch Energy Providers 2024
- Plan No Longer Works for You – Have you gone through a major life change? Any major life event could mean it’s time to explore your options and find different gas and electric companies. From working at home, expanding your family, to maybe even downsizing your home.
- Looking to Reduce Your Carbon Footprint – Many providers now offer competitively priced renewable-energy plans. If you’re looking to be more eco-friendly, consider looking at more energy efficient plans.
- Unhappy With Your Current Provider – Maybe you’ve just had enough of your current energy provider if you’ve experienced things like poor customer service. Or perhaps you simply need different plan options that your current provider doesn’t offer. You can compare providers and plans and choose a new energy supplier and options and plan that works best for you.
- Looking for a Fixed-Rate Plan – If your utility suppliers continually adjust your rate, a fixed-rate plan could be less stressful. Switching to a new energy provider allows you to select a fixed-rate plan so that you lock-in your energy supply rate.
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What Should I Look for When Choosing an Energy Supplier?
While switching to a new energy provider maybe easy, but knowing how to choose an electric company can be difficult. Particularly if you don’t know what you’re looking for.
So let’s break down a couple main factors that can help you in the process of choosing electricity provider.
What to Look for When You Choose Your Electric Provider 2024
- Find Out if You Live in a Deregulated Energy Market Sate – If you are wondering “can I choose my electricity provider?” You much check if you live in a Deregulated State. In certain states, you may have many choices for local power companies. These states are known as Deregulated States.
- Make Sure That The Energy Supplier Serves, and is Licensed, in Your State – There are a few different types of energy that can be supplied to your home. Natural Gas, Solar, Electric, and Renewable. If you choose to do solar for example, we recommend checking with this database to check the companies licensed in your state.
- Review Your Current Costs – Knowing and understanding your electric bill will help you greatly! Not only when switching providers, but while trying to cut costs overall. When you understand the cost of energy for your home or small business, you will be better prepared to choosing electric company that will meet your needs.
- Check Customer Reviews – Select electricity providers that have multiple positive reviews from current or previous customers. Or ask your neighbors if they use a particular supplier and how they like the service!
Related Post: Do I Live in a Deregulated Energy Market State?
How to Choose an Electricity Provider 2024?
When choosing electricity provider, there are many things to keep in mind. One of the most important being that state regulations may vary. But if you’re ready to switch to a new electric company, weighing out the pros and cons of switching is the most work you have to do. Once you’re ready to sign up with the best electricity supplier, you’ll receive service under the terms and conditions of the agreement you choose from your new electric company suppliers.
When I Choose a New Energy Supplier, What Changes?
- Rate – The biggest change will be the rate you pay for your energy. A cheaper energy rate is one of the main reasons consumers look at when wondering how to choose electric company.
- Customer Service – Like any company, your new electric provider will ensure your happiness with their service. Customer service accounts outweighs high prices by 70%! They want to keep you by keeping you happy. A companies customer service can help you pick electricity provider
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4 Things to Consider When Choosing Electricity Provider 2024
#1 – Choosing an Energy Provider: Supplier Reputation
With what seems like countless options when you decide to choose energy provider, it might seem easiest to just go with the best price you find. And if price is all that matters to you, go for it! But we recommend looking at the supplier’s reputation before signing a contract. You can do this multiple ways. But the most reputable source of consumer reviews will always be a state affiliated site.
How to Find the Best Reviews When You Choose Your Energy Supplier 2024
- State Affiliated Website
- A 3rd Party Compliance Checker
- Google Reviews
- Yelp Reviews
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#2 – Choosing an Energy Provider: Rates
Rates are one of the most important factors you need to consider when researching how to choose electric company. How much you pay for your energy bill each month depends on what type of rate plan you have. There are two types of rating plans that are provided by all home energy providers. You will be offered either a fixed-rate energy plan, or a variable plan to choose energy rates.
Electric Company Rate Types 2024
- Fixed-Rate Plan – On this plan, you will pay one rate for energy no matter the time of day or year. This type of plan is good for the budget conscious consumer. You control the price you pay at the end of the month by your total energy usage.
- Variable Rate Plan – This plan is generally only good for one party, the energy supplier. Enrolling in a Variable Rate plan means you pay the market value of energy used. So, plan on your price fluctuating greatly when energy is in demand.
If you’re wondering how to shop for energy providers best rates, the answer really lies within your usage! Take a look at your current energy bill and see when you’re using the most electricity throughout the day. Then compare those time frames with the rates of the plans you find when shopping for a new electricity provider.
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#3 – Choosing an Energy Provider: Plan length
The length of your plan may be further down on our list, but it remains one of the greatest risks you take when learning how to choose energy provider. Most energy providers offer 4 plan length options. A 6, 12, 24, or 36 month plan. The plan you choose really depends on how much you are willing to shell out in early termination fees if you cancel early.
Risks of a Short-Term New Electricity Provider Contract 2024
- Potentially Higher Rates When Renewing – Yes, you may receive an attractive shorter term plan with a lower rate. But there’s no guarantee you will be offered the same or similar price when it comes time to renew.
- Renewal Period – It’s no secret that shorter contracts renew more frequently than long term contracts. This makes it easier to accidentally forget your renewal date or end up paying a higher rate sooner.
- Budgeting – It can be tough trying to predict what your renewal rates will be. This uncertainty makes it difficult to develop a long-term budget with a short-term electricity contract.
Risks of a Long-Term Energy Provider Contract 2024
- Missing Out on Cheaper Rates – If energy market prices drop, you are not able to break your contract without a fee to take advantage of lower prices. In a long-term electricity contract, you also have fewer opportunities to shop around for new rates.
- Commitment – Long-term electricity contracts can last up to 60 months! This makes it more difficult and more expensive to move to a new, less expensive supplier. So when looking at what electric company should I use for a better rate, keep these factors in mind!
#4 – Choosing an Energy Provider: Green-E
Are you looking for renewable energy? If so, make sure to look into getting Green-e certified! Green-e is the trusted global leader in clean energy and carbon offset certification. They advocate for the advancement of clean energy policy, markets, and technology.
What is the Purpose of Green-e Energy?
- Green-e Energy is a voluntary program. It is set up to protect retail purchasers of renewable energy in the voluntary market, and the most value that Green-e Energy provides is oversight of the sale of renewable energy to retail customers.
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Tips for Choosing an Electricity Provider 2024
When looking at how to find the best energy supplier for your home or small business, you might think to only take price into consideration. When you search beyond the price point, you will find other major factors that will affect your longterm energy goals. So in the continued search for answers on how to pick an electric company, here are some tips for you to keep in mind.
Supplier Serves Businesses Like Yours
- Find an energy supplier that serves a business similar to yours.
No utility company is the same. Therefor, energy companies wont offer you the same options. Whether you’re looking for a provider for your home or small business. It’s important that you work with a provider with a wide variety of products, services and contract options. Some of which can be customized to help you meet your energy goals while keeping budget in mind.
What if I Change My Mind? Can I Switch Back to Unitil?
- While the details to this question will be in your Terms and Conditions section of your contract, most energy companies will accept you back as a customer.
Hoping you’ve signed a new contract before terminating your current one, switching back may prove to be more challenging. This may happen on your quest on how to choose an electricity provider. The problem with switching back to your old energy provider is that you have already signed a new contract with a new provider. Check the terms of your new contract, some companies will offer a grace period to avoid cancellation fees.
Will My Business Save Money by Switching to an Alternative Energy Provider 2024?
- Most likely yes!
There isn’t a solid answer to this question. Saving money to switch gas and electricity suppliers will depend on a couple main factors. Market rates, time of year, and business model. If you are trying to switch in the middle of summer or winter, expect there to be little financial incentive to switch providers.
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How Do I Know Which Energy Supplier to Use 2024?
There are a couple different ways to check which energy supplier you can use. The most common way is to check with your states website! It is important to also find out if you live in a deregulated state. This will either limit or expand the options you have to choose from.
How to Pick an Energy Provider That Services Your State 2024
- Check your utility bills
- If you’re a renter, ask a landlord
- Check your state’s official website
- If you’re a home or small business owner, ask the previous owner or agent
- Visit your City Hall
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Who Has the Cheapest Rate for Electricity 2024?
While learning how to find the best electric company, rates will be the first thing you look at. The cheapest rate usually catches the eyes of potential consumers so companies will always lead with the rate they’re currently offering. To find the cheapest rate for electricity, you’ll have to search the market by state and compare it to what is being offered.
Which States Have the Cheapest Electricity Rates 2024?
- Louisiana – 7.51 cents per kWh
- Oklahoma – 7.63 cents per kWh
- Idaho – 7.99 cents per kWh
- Utah – 8.27 cents per kWh
- Wyoming – 8.27 cents per kWh
These states are the 5 cheapest states for energy rates. While the most expensive energy states are Alaska and Hawaii. Both states charging 19.82 and 27.55 cents per kilowatt-hour respectively.
Who is the Best Energy Supplier to go With 2024?
The best electricity providers bring more than the lowest rates. They offer great customer service while also delivering the best energy products. On top of all this, the best provider for you may have a mission that aligns with your values or supports causes you care about. In today’s saturated energy market, finding a utility provider can be difficult. Here are some of the best energy supplier of 2024.
Top 5 Best Energy Providers of 2024
- Constellation – Services CT, GA, IL, OH, MA, MD, NJ, PA, TX
- Direct Energy – Services CT, IL, MA, MD, NH, NJ, NY, OH, PA, TX, DC
- TXU Energy – Services TX
- Reliant Energy – Services TX
- Tomorrow Energy – Services PA, NJ, MD, OH, TX
How To Choose Best Electricity Company 2024 FAQ
Q: What is a Deregulated Energy Market?
A: In certain states, you may have many choices for local power companies. These states are known as Deregulated States.
Q: Can I Choose my Energy Supplier Rate Type?
This depends on your energy supplier and what type of rate plan they offer.
Q: How to Pick an Energy Provider Rate Plan?
A: The first step in picking a plan that works for you is knowing the two main types of plans utility providers offer. Typically, you can choose either a Fixed-Rate Plan or a Variable Rate Plan.
Q: What is a Fixed Rate Plan for Energy?
A: On this plan, you will pay one rate for energy no matter the time of day or year. This type of plan is good for the budget conscious consumer. You control the price you pay at the end of the month by your total energy usage.
Q: What is a Variable Rate Plan for Energy?
A: This plan is generally only good for one party, the energy supplier. Enrolling in a Variable Rate plan means you pay the market value of energy used. So, plan on your price fluctuating greatly when energy is in demand.
Q: Which States Have the Cheapest Electricity Rates?
A: the 5 cheapest states for electricity rates are Louisiana, Oklahoma, Idaho, Utah, and Wyoming.
Q: Which States Have the Most Expensive Energy Rates?
A: Alaska and Hawaii. Both states charging 19.82 and 27.55 cents per kilowatt-hour respectively.
Q: How to choose your electricity provider
A: When you are looking to choose an electricity provider, you will need to consider the following.
- Analyze your current costs and energy rates
- Check reviews and history of the new supplier
- Be sure they have helpful customer service
- Remember you have the power to choose which provider is right for you
We hope you found this article helpful! If you are looking for ways to increase the energy efficiency and sustainability in your home be sure to take a look at all of the latest renewable energy options in your area. The Energy Professor helps residential and small business owners find qualified energy suppliers in New York, New Jersey, Pennsylvania, Texas, Ohio, Maryland, Illinois, and Massachusetts!