How to Change Energy Suppliers
Changes in the electricity market have made it possible for customers to pick their own electric supplier. The New York State Public Service Commission (PSC) approved utility plans offers you access to various offers from energy suppliers known as ESCOs (Energy Service Companies).
You should know that the actual delivery of the electricity to home and businesses will still remain under the control of the local utility and is regulated by the PSC.
The benefit though is that the competitive market offers lower prices than what would be available under government regulation. It is very important that you consider the best companies in terms of their services and prices in order to pick the right one for your needs. Phoenix Energy has a lot to offer commercial customers, and we recommend that you also take a look at the many benefits your receive.
THE STEPS INVOLVED IN SWITCHING ENERGY SUPPLIERS
It’s a very simple 4 step process that you need to follow. Right from picking the right ESCO to getting everything setup.
STEP ONE: FIND OUT WHAT YOU CURRENTLY PAY
Before you begin looking for prices from various ESCOs it is important that you know how much you currently pay for the supply charges on your bill. You could also look into the past prices and see how the prices have changed over time.
STEP TWO: LOOK AT YOUR OPTIONS
Look online or visit your ESCO personally to find out how they charge. What are the minimum terms of a contract? Are there minimum bill amounts? Another important factor to look into is the long term costs. Are the prices fixed or do they change from month to month. There are times where you may not be happy with a decision and may want to change supplier. Find out if there are any early cancellation charges.
STEP THREE: A TABLE OF THE PROS VS CONS
Now that you know the way they charge, how much they charge you and the terms and conditions you have to agree upon when you make the switch, it would be wise to create a table of pros and cons of each of your supplier choices and compare them to find the best. Apply weights to each category to make the right choice.
STEP FOUR: FIND OUT HOW MUCH YOU’D BE SAVING
Once you’ve come down to 2 – 3 ESCOs it’s time to calculate your monthly savings and determine who to sign up with. All you need to do is multiply your monthly kWh from your last bill with the savings or additional costs incurred with the service provider in question. This should help you make the final call.
THE FINAL CHECKLIST
Study the company’s background and find out where they get their energy from. Businesses that sign up with Phoenix Energy for instance, can boast that they use 100% Renewable Energy.
- Compare the prices and services offered
- Customer service features
- Billing and payment options
- Stability in Prices and how you are affected by market fluctuation