Deciding on the right energy supplier for your home or business is more crucial than you think. If you are in a state where energy is deregulated, you can save quite a bit on your monthly electricity bill. Deregulation lets the customer stay with their current provider or switch to a new one at the end of their contract. When people look for a new supplier, they look for the best rate, so each company is always trying hard to get the customers’ attention. Since there is an opportunity to compare and choose, it can become overwhelming. You may be hesitant about how to pick a new electricity company. Below is a list of some things to consider before committing to an energy supply company (ESCO).

1. Customer service

Great customer service can make a huge difference. Having somebody you can depend on, who is reachable and responsive when you have concerns or questions is everything. Aside from that, they should be determined to reach out and answer complaints or problems you might have. Most companies do not make it a priority to make sure that their customers’ questions are recognized and taken care of fast and respectfully when they need it. Also, notice if they have used automated messages for responses or if it’s a real person taking the time to respond. Looking at their website will help as well; try to send them an email and see how long it takes for them to get back to you. Many suppliers will only make an effort to contact you at the end of your contract, and there are a lot of things that can happen from the time you first signed up. An energy supplier with a devoted customer service team will make a positive impact on your energy experience.

2. Reputation

The experience you have doing business with a company is a result of  the type of people running it. When looking for the best energy supplier, consider who is responsible for leading the organization. Take note if they have a good reputation and strong values at the center of their mission. You want to know that you are working with a company that shows integrity and is responsible and reliable. Simply investigate the website to read about the background of the business; this will help give you a good idea of what fuels the company.

Unfortunately some energy providers use deceptive marketing tactics; like offering super-low rates that will go up after a few months, or by hiding substanital fees or charges. Since energy deregulation is not well known, this gives shady operators the opportunity to scam a confused consumer. So, always investigate each plan firmly and identify any charges to know there won’t be any surprises later on. Choosing an energy supplier is an important decision that needs to be made; and you must be confident that the supplier you select is secure and reliable. A secure supplier will be there to serve you, even among the ups and downs of the energy markets. This will offer you peace of mind that there are no scams involved.  Search for a supplier that is established across various deregulated regions, with experience buying and selling in the wholesale markets. When you pick an experienced supplier, you will get a tailored energy approach which makes the most financial sense for long term needs. It may be difficult to measure the helpfulness of these elements, but it will be very apparent if things go wrong. Don’t forget, your energy supplier will be around for the length of your contract, so choose a solid supplier who also meets your needs. There are other signs that imply that a supplier is not trustworthy: the rates that are significantly  lower than the average for your area, high rates that are unaffordable for your home or business, and strong claims about how reliable they are but a lack of evidence to support it. 

 3. Price

The cost of your energy is a common driving factor in making a decision about a supplier. There is a lot more to a per kilowatt hour rate quote than you would think. A reliable supplier will tailor the pricing to your place’s specific usage and needs. For example, most people’s usage varies greatly by season and time of day because of the specific nature of the place. Also, make sure the contract is completely transparent; this is necessary to avoid hidden costs. Suppliers may include pass-through costs, which means you could be charged more for extreme weather conditions or unforeseen regulatory changes. Therefore, that “low” price could potentially cost you much more in the long run. 

Another factor you should investigate before committing to a new energy provider is the different plans and prices they offer. A fixed rate plan is a plan that allows the price you pay for electricity usage to remain the same throughout the term of your contract. This allows you to be sure of your charges during the period of your contract; it also protects you against rising energy prices in the future. Variable “month-to-month” plans don’t have a minimum contract period and are based on the current state of the energy market. This type of plan may change on each bill, allowing you to benefit from lower rates at different times of the year. The rates change as market prices change. Green energy plans: Especially aimed at people who are interested in promoting the energy of renewable sources; such as wind, solar, biomass and geothermal. In general, these plans have the same cost as the traditional ones, so you’ll pay the same while reducing your carbon footprint.

With this knowledge of the basics of energy providers, you can now make a more thorough decision in choosing an energy supplier. Read all of the necessary background information to make sure you are associating with a company that has a  good reputation. Read the contract and understand it, to avoid complaints in the. Remember to compare your current plan with the new one you’re looking at. Selecting the right plan is completely up to you. Decide whether you want to lock a fixed rate or keep it flexible. By following these recommendations and taking your time to review your options, you can choose the right provider for your budget and lifestyle. The more research you do the more scams and problems you will avoid.