You weren’t allowed to choose your own electricity provider 15 years ago, but as of today the option is available to consumers in over a dozen states! There are many providers offering electricity to residential and commercial consumers across the US today.
What’s the best electricity provider for me?
While we make switching and signing up for a new electricity provider a very simple process, you do need to make sure you’re choosing the best electricity provider for you and your needs. After you enter in your zip code and we present you with a list of available electricity providers and plans in your area, you need to ask yourself the following:
- What plans are offered?
- How much does a kilowatt/hr cost?
- Does the rate include all fees?
- Do I have to pay a deposit?
- Is there a contract? How long is the contract?
- What happens if I break the contract?
Right to Choose (or Not)
Even if a state is deregulated, not all parts of a state can choose their own power provider. As an example, in Texas, some areas are run by city-owned utility companies. These city-owned utility companies have the ability to stop you from using another electricity provider. In that case, you may not choose your own electricity provider and are forced to use them.
Types of Plans Offered by Electricity Companies
While saving money is usually the biggest concern (and reason) for consumers when seeking out new electricity providers, the type of plan should also be considered:
Fixed Rate Plan
The Fixed Rate Plan keeps your rates at one price, regardless of the market price. This plan also allows you to choose a provider that offers long-term options. It’s not uncommon for a provider to let you lock-in a 5-year rate.
Variable Rate Plan
With the Variable Rate Plan, your rate can drop or go up depending on the market price. Just remember, if priced drop, your rate drops. And if the price rises, your rate rises too.
The Indexed Plan starts with an intro rate and then changes to a market price rate after the expiration of the intro rate. This plan type may begin with an introductory rate. The whole price rate will stay in effect for the remainder of the contract.
You have the right to choose to use renewable power if you want. This is a great benefit for those who want an energy supply that is generated by clean resources. This energy can come from the sun or wind. You even have the choice of energy provider based on the location of their green energy. In Texas, for example, wind farms are a popular place where energy providers get their renewable power from.
Different providers offer different plans. The easiest way to find the best electricity provider for you is to request an instant quote from us — click here. Enter in your zip code and you’ll see the providers and plans available to you in your area!