How to Know if You Should Switch Electric Suppliers

If you feel like you are getting bad rates or shabby service, you should consider switching electric suppliers. But how do you a different provider will help you save money and provide you with more reliable service? Here are some tips for determining whether or not it is a good idea to switch electric suppliers.

If you are concerned about the reliability of your service, switching electric suppliers will not improve your service because you will still be dealing with the same provider, or public utility. This is because your electric supplier brings electricity to your electric provider instead of directly to you. With that out of the way, let’s dive in!

Shop around and ask the right questions

Thankfully, Ohio is one of 16 deregulated states where, as a consumer, you are free to pick your energy supplier.

The first step to determining whether or not you should switch electric suppliers is to shop around and gather as much information as you can. You’ll want to figure out all of your options and then compare prices to find the best deal.  You can start with this complete list of regulated electric companies in Ohio.

While gathering offers from electric suppliers, there are a few things you will need to figure out. For starters, you should understand your current bill and energy rates so that you have a baseline to compare new information to. This type of information will include the price you currently pay per kilowatt-hour, as well as any additional taxes or monthly charges.

Lastly, you’ll want information about the rate for each contract. The three options you are likely to see are fixed, hybrid, and variable rates. With a fixed rate, you will pay the same price per kilowatt-hour during your entire contract, regardless of market price changes. However, with a variable rate, your prices will fluctuate with the changes in the energy market. If you can’t choose between the two, a hybrid rate might be for you. With a hybrid rate, a portion of your bill will be fixed while the other portion will fluctuate with energy market changes.

Now you’re ready to shop! Here’s a quick summary of important questions to ask:

• What is your kilowatt-hour price?
• Are there any monthly fees or additional taxes?
• What type of contracts do you offer?
• How long are the durations of your contracts?
• What types of rates do you offer? Fixed, variable, and/or hybrid rates?

Compare offers and find the best deal for you

Now that you have all of this information, you can compare offers and determine which deal and electric supplier is best for you. If you find a better deal but would still like to keep your current supplier, then try sharing your information with your current electric supplier and requesting a better deal. If they don’t agree, then feel free to switch electric suppliers.

Need help sorting through all the information and getting the best deal?  Find out what Star Energy Partners can do for you!