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Americans pay too much on utility bills, mainly due to the fluctuating markets. However, this does not mean that Americans cannot lessen their monthly bills. The easiest way to cut your energy bill is to procure a cheaper energy deal by changing your energy supplier.
There is a misconception that changing energy suppliers is a tedious task. However, switching is easy and saves you a lot of money in the long run. This is especially easy for deregulated states. Read on to find out how you can find a cheaper electricity deal in your area.
Know That Prices Depending on Your Location
The biggest factor in energy pricing is the location of the consumer. Some states have more available power plants compared to others. The local fuel costs and regulations per state also affect the pricing of electricity.
Inclement weather also affects prices. If in the state you’re in it always rains or snows, a supplier that generates hydropower is the cheapest supplier you can get. If it’s sunny most of the year, a supplier that generates solar power is your best bet. Suppliers that use wind turbines as an electricity source is generally the cheapest supplier if you live in a place that is usually windy.
Seasons also affect the prices of your electricity bill. The highest electricity rate is usually during summer, as there is more demand to cool down. If you live in a place that experiences drought over the summer, avoid acquiring a hydropower energy supplier’s services.
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Study Your Current Energy Plan
It is essential to read and understand your current energy plan. This way, it’ll be easier for you to compare your current plan with plans offered by other electricity suppliers. Moreover, watch out for termination fees. Some companies will require you to pay fees if you switch suppliers earlier than 14 days from your plan’s expiration.
To get information about your energy plan, contact your current supplier, and ask them pertinent questions on things you don’t understand about your plan. Your recent electricity bill statement contains the name, address, and contact details of your current supplier. It also has details on how much electricity you use and how much is the charge per kilowatt.
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Shop and Compare Rates
Shopping for suppliers and comparing electricity rates is the fun part of looking for a cheap electricity deal. Concerning location, some states have deregulated electricity, while others are still regulated. If you live in a state with deregulated electricity, you can freely shop and compare rates.
Deregulated states include California, Delaware, Connecticut, District of Columbia, Maine, Illinois, Massachusetts, Maryland, Michigan, New Hampshire, Montana, New Jersey, New York, Rhode Island, Ohio, Pennsylvania, and Texas. The rates for regulated states are traditional.
The fastest and easiest way to compare is through comparison sites. Price comparison websites for electricity rates will help you differentiate electricity deals and offers. All you have to do is encode your zip code or state on the site.
The second most popular way of looking for cheap electricity deals is to personally go to an electric company. However, this is not an ideal way of comparing deals, especially with what is happening now, where everyone is advised to stay home.
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Think of Your Electricity Usage
Every household or company has different electricity usage. To get the best electricity deal, you should assess your consumption. If you’re only applying for a house, look for a supplier that is more akin to household electricity usage. If you own a company, your supplier should be ready to supply a company.
Consider Switching to Small Electricity Suppliers
One of the best tactics when looking for a cheap electricity supplier is to deal with small suppliers. Look outside the big ones. The small ones are more competitive with their offers and deals than well-known suppliers. Surprisingly, small suppliers have greater customer satisfaction compared to bigger companies.
Other Ways to Save Electricity
Aside from switching your electricity providers, you should also take steps in saving your electricity consumption. Doing such will surely save you up to hundreds of dollars, in addition to what you saved in changing suppliers.
You can save electricity by not leaving your appliances on standby, closing your curtains during dusk to keep in the heat, changing to energy-saving light bulbs, and choosing energy-saving appliances. These things will help you reduce your electricity costs.
One of the advantages of switching electricity suppliers is to save money. You can do this by looking for a cheaper electricity deal. The trick is to consider your location, study your current plan, compare rates, consider energy usage, and switching to smaller suppliers. Additionally, you can save on utility costs by changing light bulbs, changing appliances, and being overall smart with electricity usage.