Should I switch to a different electric provider?

Should I switch to a different electric provider?

Utilities are expensive. We all need them, but nobody really wants to pay for them. So when there is potential to lower your bills it seems worth looking into at least. Of course, depending on where you live, there may not be a choice. The first step is to find out whether or not your state has a deregulated electricity market. What this term means is that the utility company does not completely control the sale of electricity. Other providers are permitted to sell the electricity at competitive prices.[AD:foo]

Utilities are expensive…

We all need them, but nobody really wants to pay for them. So when there is potential to lower your bills it seems worth looking into at least. Of course, depending on where you live, there may not be a choice. The first step is to find out whether or not your state has a deregulated electricity market. What this term means is that the utility company does not completely control the sale of electricity. Other providers are permitted to sell the electricity at competitive prices.[AD:foo]

If you find that your state does have deregulated electricity then you have a chance to cut your electricity costs. An easy way to find different providers and compare rates is to research through an electricity provider comparison website. These sites will typically lay out the prices and terms offered by each of the providers in your area. It is important to note that not all deals are as great as they look at first glance. For instance, some providers charge a minimum usage charge, meaning that if you do not use a certain amount of electricity for the month they will charge you an extra fee. You will also want to be clear about whether the rates offered by each provider are fixed or variable.

Once you have found a deal that appeals to you, you may want to get in touch with your current electric provider to let them know about the deal you have found and give them a chance to match or beat it. The final step is to make your selection and take care of any sign-up procedures. Your next electric bill should reflect your new rate in the section that shows the amount of energy you used in the billable month. The other portion of the cost still goes to the utility company for the delivery of the electricity.

Take this quiz to determine whether or not you should switch electric providers: