Shopping around for a new energy provider can seem overwhelming at first, but once you know what steps to take, it’s actually pretty easy. The first thing you want to ask yourself is “Is it time to switch?” Make sure that you are at the end of your contract term (you will receive a letter from your provider when the contract is almost up) or that you are on a no-contract plan. If you back out of a contract before it ends, you could be hit with an early termination fee.
The next question to address is “Where do I begin?” That question is easy! You can visit us online and start shopping around for a better electricity rate! We will help you compare several companies at a time, showing you their rates and plan features all in one place.
After that, the question becomes “Variable or fixed rate?” Variable plans change their rates every month according to market conditions. Fixed rate plans lock in your rate so it won’t be affected by market conditions for the duration of your contract. There are also prepaid plans, but those tend to have higher rates and require a lot of scrutiny to make sure you don’t use all your electricity up in a short amount of time.
“What are the fees?” is another good question. Every plan on a provider’s website or on our comparison lists has something called an EFL, or Electricity Facts Label. The EFL spells out the details of a specific plan, including the rate breakdown and any fees. Some fees are assessed for using too little electricity, some are for backing out of the contract early. Take a close look at the EFL so you know what the fees would be with the selected plan.