You can choose your electricity provider if you live in a deregulated market. But how do you know which company to trust? There are five key factors to consider when comparing electric companies. These factors help you choose for your home or business needs.
Convenience
Choosing an electric company in Arlington, Texas, that offers convenient tools to help manage energy usage is important. This includes online accounts with easy ways to check balances, track electric usage patterns and set alerts for high usage times. Some companies also offer convenient options for payment, such as direct debit and paperless billing. It is also a good idea to check what energy each provider uses. Renewable sources, such as wind, solar and geothermal, replenish quickly and reduce pollution. Nonrenewable resources, such as coal and petroleum, will eventually run out. Look for electricity providers that prioritize sustainability and promote education about smart energy usage. There are two main types of charges on homeowners’ energy bills: the utility delivery charge and the supply charge. Ask each provider about their rate structure, cancellation policies and hidden fees. Some providers also offer rebates and incentives to encourage smart energy usage. Additionally, some companies provide donation programs to support local community initiatives. In addition, look for those that offer various plan and rate options, including fixed rates that won’t change when prices fall and variable-rate programs that rise and fall with market trends.
Cost
The cost is one of the most important factors to consider when choosing an electricity company. You want to find a provider that offers competitive rates per kilowatt-hour (kWh) to save money on your monthly energy bills. To determine the rate per kWh, look at your most recent electricity bill and locate the amount charged under the supply charges section. Electric rates vary based on various factors, including the type of energy being used, demand and weather conditions. For instance, wind power is more expensive than coal or natural gas, and extreme temperatures push electricity prices through the roof because it requires extra generation sources to keep up. Luckily, since deregulation has made the energy industry a competitive market, there are many options for consumers to choose from. As such, consumers can easily compare the different providers in their area and pick the best rates. However, consider other important aspects, such as customer service and energy efficiency, when making your final decision.
Customer Service
Customers expect their electric utilities to provide top-notch customer service. When utilities fail to meet customer expectations, they face various issues, including fines, rate increases and bond ratings that can impact their profitability. Utilities that have a customer-focused culture are better prepared to provide superior service. Providing excellent digital support for customers is vital to creating high customer satisfaction. According to a recent analysis of 200 brands, the utility industry lags behind other sectors and overall cross-industry averages regarding email response time. When shopping for an electricity company, check out their customer support policies and ensure they provide convenient options like online billing and autopay. Also, be sure to ask about their energy sources and whether they use renewable or nonrenewable resources. Many independent electricity companies offer sustainable energy programs to help their communities. Check out their websites to see if they donate solar energy to nonprofits or provide electricity to people in need. Some electricity providers also promote green energy by donating to schools participating in energy efficiency competitions.
Energy Efficiency
While renewable energy sources are getting a lot of attention, the truth is that improving the efficiency of our buildings, appliances and equipment can have just as big an impact on the environment. Energy efficiency, either through technology like LED bulbs or behavioral changes in the home, such as turning off lights when leaving a room, reduces the energy used and eliminates wasted energy. In addition to the environmental benefits, energy efficiency helps consumers save money on utility bills and reduces their dependence on fossil fuels that cause greenhouse gas emissions and air pollution. Eliminating wasteful energy use could cut nationwide electricity consumption by enough to power six million homes for one year. Businesses that embrace energy efficiency also stand to gain a competitive edge over other companies that don’t. Customers, clients and employees increasingly prioritize companies that take their responsibility to the environment seriously. One study found that three-fourths of Millennials would be willing to take a pay cut to work for a company that cares about the environment.
Reputation
When you are looking to choose a new electricity provider, reputation is an important factor to consider. Look for a provider known for providing quality service and competitive rates. You can find out how well a company is regarded by checking its customer service ratings and reading online reviews. It is also important to look for a provider that offers discounts, such as direct debit or paperless billing. You should also consider a provider’s business practices and whether it has special add-ons, such as renewable energy options. Also, please find out how easy it is to switch providers and whether any fees are associated with canceling or changing plans. A reputable provider will be transparent about prices and terms, avoiding hidden agendas and promoting healthy customer connections. This will allow you to feel confident about your choice and make the best decision for your needs. In addition, a good provider will provide accurate information about the energy market and make it easier to understand complex concepts such as the difference between retail and generation prices.
