With the deregulation of electricity in some states such as Texas and Pennsylvania, consumers have the luxury of choosing their energy company from a competitive field. The advantages of this for the consumer are obvious. Still, sifting through all the available options can be a bit daunting, even confusing. We’ve put together a list of ten ways to get a better than advertised deal on electricity:
- Compare – Use a price comparison website like WhiteFence or ChooseEnergy, to find the best deals in your area. Make sure you’ve determined whether those prices are based on fixed, variable, or indexed rates before choosing.
- Compete – Once you’ve determined all of the rates for each available service provider, you can of course leverage offers from competing utility companies against one another in order to get a better rate. Competition gives you control over rates to an extent.
- Bundle – Consider bundling your services whenever possible. Some utilities offer more than one service, and are usually cheaper when the consumer elects to purchase a package deal over just one service.
- Bonus – Look for Rewards or Referral programs you can leverage to get a better than advertised deal also. You may be able to garner some wiggle room if you can earn some energy conservation points or refer a neighbor.
- Efficiency – Some energy providers will give discounted rates to consumers whose homes have a high energy efficiency rating. If your home uses less energy, this can earn you a better price for it from your utility company.
- Co-op – Co-op utilities in some areas offer advantages to their members. When a utility is essentially owned, or subsidized by’ a co-operative of members, that means the rates will vary based upon usage. When members have conserved energy, they receive compensation.
- Bargain – Negotiate with the salesperson. Often the advertised rates have a good deal of wiggle room. If you know how to dicker and have done your homework on pricing, you can negotiate rates significantly lower than those advertised.
- Join together – Deal with the utility companies as a collective of homeowners if you live in a subdivision. A homeowners association will have much better leverage working together than an individual consumer shopping alone.
- Online – Online marketplaces like CurrentChoice can help you find the best deals available. They can often find competitive prices that consumers aren’t aware of, plus they coordinate the switch to the new service provider for you – free of charge.
- Green – Switch to a renewable form of energy if possible. Renewable energy is less expensive and, because of its green factor, is typically loaded with incentives for the consumer who chooses it over non-renewable energy options.
There are always ways of saving money if you look for them. Do a little research and see if you can find a way to save money on your electricity bill.