Whether you’re moving to a new apartment or finding alternative providers for your house, choosing an electricity provider can be tricky. If you have the benefit of customer choice, it can be tough to pick the right electrical company from the broad selection. 

After all, your traditional provider may not provide a competitive rate. At the same time, an independent provider might not offer service in your area!

Before shopping for electricity rate plans, it helps to get your bearings. Here are five tips to consider before starting your search.

1) Review Your Service Area When Choosing An Electricity Provider

One of the first things you should consider when starting your search is which companies provide services in your area. Aside from your traditional electricity provider, you’ll likely find a handful of major competitors that offer services in your area. 

If you’re hoping to reduce your carbon footprint, try seeing if any eco-friendly independent producers are in your area. Independent energy producers are also excellent ways to find cheaper rates. 

2) Consider Which Electricity Rate Plans Better Suit Your Needs

If you’re looking to keep a flexible budget, you can tailor your energy bill to your needs. By choosing the right plan, you can lock in a reasonable price for the long term. Alternatively, you can keep your options open with no-commitment plans. 

There are three different kinds of energy rate plans: 

• Fixed Rates: You pay the same price for the entire contract length but pay a cancellation fee
• Variable Rates: You pay based on usage each month but may usually cancel fee-free
• Hybrid Rates: You pay a fixed rate for a time and have the option to go variable later

3) Try Comparing Electricity Provider Costs Online

One of the best ways of comparing electricity provider costs is using search engines. Using Google or Bing to compare advertised rates is a quick start.

If you’re looking for a more efficient method, you could try a rate comparison website. These websites serve as a veritable “online marketplace” to shop for energy rates, making it easy to save! Rate comparison websites are beneficial in deregulated markets such as Texas. 

4) Look For Bundles And Other Offers To Lower Your Rates 

Much like you can bundle streaming services, some utility companies also offer bundles! 

In some markets like Texas and California, it’s possible to bundle electricity and gas together. In some cases, you may be able to pay less by finding one provider for both! 

Aside from bundles, providers may offer incentives for switching to attract new customers. Try googling local companies to see if they’re offering new-customer incentives. 

5) Contrast Companies By Reading Online Reviews

A great rate doesn’t mean much if you can’t get someone on the phone when the power goes out!

Before switching companies, always make sure you do your due diligence online. Online review sites are a great place to start, as sites like Yelp occasionally have listings for power companies. You could also try googling a company’s name followed by “customer service reviews.”

If you prefer a more social approach, try asking around on a local Facebook group, Subreddit, or even on Nextdoor. 

Electricity Provider Options For Homeowners

When it comes to choosing an electricity provider, there doesn’t need to be any hassle! Comparing rates and plans is as easy as using your phone or laptop. Within minutes, you can easily have a dozen options in hand. 

For more helpful tips for homeowners and more, make sure to bookmark our blog!