When you start shopping for energy plans and looking to lock down a new electricity supplier, chances are you will be faced with a difficult choice. As today?s deregulated energy markets become more and more competitive, choosing a supplier becomes increasingly difficult.
Fortunately, online shopping tools have made it simple to start the comparison process. All you need to do is enter in your zip code to see a listing of local area suppliers and their rates. However, with a list of dozens of companies and even more individual plans in front of you, how do you make the best decision on which supplier is right?
There are so many different approaches you can take to choosing an energy plan, but ultimately, there are a few different things that you should always take into consideration as you compare different rates. We have made a list of the most important considerations to take when comparing energy plans so you can quickly and efficiently scan through different plans so find the solution that best fits your needs.
Does the plan?s length fit your needs? Do you need short-term or long-term, or does month-to-month best fit your schedule?
Rates will likely vary depending on the length of the plan, think about how long you want your plan to last. Are you moving soon, or do you want to lock something in that you won?t have to worry about for two years? Determine what your ideal plan length is to narrow down your options.
Do you want a fixed rate plan that won?t change or do you need a variable rate plan?
With a fixed rate plan you will always know what your rate will be, but it can mean that you are over paying. A variable rate can mean more of a gamble but it can also mean you can take advantage of low prices when the market improves. Rates will vary depending on whether or not they are fixed or variable, so determine which option is best for you before you start comparing.
Do you prefer green energy? Does the plan use energy from renewable resources?
Not every company offers green energy and not every market has suppliers that use renewable resources available. If this is something that is important to you, then chances are it will really narrow down your options as you start to compare.
Have you seen customer reviews for this company? What are other consumers saying about the supplier?
Don?t under estimate customer reviews. Take the time to look at the reviews available online and really look at what customers are saying about their experience with each specific supplier.
What type of rewards does the plan offer? Are there incentives that make one plan better than another?
The supplier with the lowest rate isn?t always the best company. Sometimes energy plans can come with rewards or incentives that more than make up for you paying a few extra cents per kWh.
What does the fine print say about the rate? Is the company just offering a low promotional rate to draw you in? Will the rate go up in a few months?
Always read the fine print. There are companies that will try to draw you in with a special promotional rate only to raise that rate significantly in the future. Make sure you have in writing how long your rate will last before you sign anything.
As you go through the comparison process, remember there is no one best plan for any individual. Every consumer different needs, meaning there will different plans that best fit every person?s needs. If you simply take the time to review these different considerations and make a side-by-side comparison of different plans, then you can walk away with confidence knowing that you have found the right plan for you.