Shopping for Electricity Rates? Avoid These 3 Big Mistakes!

Shopping for the best electricity rates can be a complex and somewhat confusing process today. Regulations continue to change, and rulings can differ if you are relocating to a new state. Power suppliers often change rapidly, and prices for various customer energy plans may fluctuate every day. Of course, once you decide on a new energy supplier, like one from a list of prepaid energy companies, and open a new customer account, you must follow the procedures for transferring, stopping and starting your new electricity supply account.

However, the first major step to be accomplished is sorting through the lists of available power companies serving your new home community and selecting the best one to meet your preferences, needs and spending budget for electrical supply services, such as prepaid electricity plans.

Three Major Mistakes to Avoid When Shopping for the Best Electricity Rates

There are three primary mistakes that you should be sure to avoid as you shop for the best available electrical power plans for your new home in order to receive ultimate quality power supplies and services:

1. Failing to Understand the Differences between Fixed and Variable Rate Plans

If you are searching for your best choice of new energy providers, you need to fully understand the features, advantages and disadvantages of both fixed rate and variable rate energy plans.

  • Fixed Rate Plans. – With a fixed rate plan, you will be charged an all-inclusive rate per kilowatt of electricity usage over a given time period, usually one month. The price per kilowatt of power usage will not change throughout the lifetime of your contract. If, however, market prices drop while your power agreement is in effect, as a fixed rate customer, you must wait until the expiration of your agreement to enjoy lower electric supply rates. There also is usually a premium charged to customers for setting a definite fixed rate.
  • Variable Rate Plans. – These plans also guarantee that you, as the customer, will pay an all-inclusive rate calculated on a per-kilowatt usage price. However, this rate may fluctuate according to changing market conditions and to terms and conditions of your energy supplier’s disclosure agreement. If market prices should plummet, you will benefit from a price reduction for electricity usage. However, if market prices take an upward trend, your energy costs will increase.

2. Not Making Careful Comparisons of Energy Suppliers

Before choosing your electric power provider, you should obtain bids from no less than three retail power suppliers. By requesting account pricing for similar services, you can make informed comparisons of energy providers. It is always a good idea to check with the Better Business Bureau or other reliable sources for each company’s financial and servicing status to ensure that each one has a strong record for providing top-tier customer electric supplies and services. Also, make sure you fully comprehend the language in your electrical supply customer contract before signing to avoid any surprises in costs later on.

3. Neglecting to Research Competitive Power Provider Rates

There is a wide selection of online resources available to consumers today that provide information and assistance for choosing the best energy provider with ideal electricity plans and rates to meet your usage and pricing needs. By searching with such phrases as “compare electricity prices” or “electric power provider pricing” and “prepaid energy companies” in your state of residence, you can obtain a reliable listing of competitive power supplying companies that service your area. Many of these websites also offer detailed information as well as answers to frequently asked questions about selecting your ideal energy provider for electricity usage.

Conclusion

In order to be prepared to make an informed choice of energy providers in your new location, you should take time to research the retail powering companies in your area. There are various websites that offer listings of reputable electricity suppliers by state and city for your information and convenience. You can discover the financial standing and service record of providers in your community by checking company listings with the Better Business Bureau. All this data will help you avoid making any major mistakes when shopping for the best electricity rates available in your region.

If you already have friends or relatives in Texas, you can ask them for a referral to a reliable and cost-effective power provider. Many satisfied residents will enthusiastically recommend that you contact Prepaid Lights, serving the entire Texas area, for an excellent prepaid plan of your choice for your home electric power needs. This ultimate quality energy provider will assist you in choosing the ideal cost-effective, prepaid plan to meet all your specific preferences, needs and budgetary requirements to start enjoying excellent electricity services and usage in your new home.

Disclaimer: © November 2019 PayGO Distributors, LLC. This is an advertisement for prepaid electric service from PayGO Distributors, LLC., an independent energy sales organization. Energy services are provided by Young Energy, LLC DBA Payless Power REP#10110 and Brooklet Energy Distribution, LLC DBAs Acacia Energy, Snap Energy Latino, and Now Power REP#10137. There is a minimum required payment to establish a connection. Call for more information on minimum required payments, balances, and specific terms of service and promotional details. Utility fees may also apply and may increase the total amount that you pay. Offers subject to termination or change without notice. Se habla Español.

* Rates quoted are at 2,000 kWh per the Electricity Facts Label for Oncor. Please check EFL for your effective rate.

** Order must be placed online before 4pm CST. Meter must not be subject to a switch hold.

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