There are many reasons why you may want to revise your electricity plan and choose a new electric provider. You may have realized your electric provider has been charging more than market average, or you want to take advantage of competitive suppliers in your area to get the best energy prices.
When it’s time to jump ship, you must choose a new electric provider that ticks all your boxes. But this is often easier said than done, especially in a deregulated state like Texas, where many electricity providers compete. Texas electricity providers are in the hundreds — roughly over 120.
With so many options, comparing and selecting electric providers can be overwhelming, and you could end up making some commonplace mistakes, as many Texas homeowners have. But worry not.
Power Wizard will help you select the most suitable electricity provider in Texas and the best electricity plan for your domestic needs.
The advantages of changing to a new electricity supplier vary depending on the gains you seek and the setbacks that prompted your switch. For instance, if your old provider had poor customer service but offered fair prices, your new provider would ideally provide you with better customer service at the same price point.
Overall, these are the four main benefits you stand to enjoy:
Ultimately, you decide which benefits fit the bill. But it’s not as straightforward a choice as it sounds. If you’re not careful, you may choose a less than ideal provider or commit to a teaser electricity rate that short-changes you down the line. To avoid such pitfalls, you should know what mistakes to avoid.
These are the four typical mistakes you may be prone to making.
Once you start reaching out to competitive providers, you’ll get multiple quotes priced differently. At this point, you’ll face a new dilemma. How do you know which quote gives you the most value?
The most structured way to answer that is by comparing the quotes to your most recent electricity bill. This way, you’ll pick out the quote that offers the most cost savings.
To analyze quotes objectively, you must understand the standard rate structures on which suppliers base their pricing options. These are:
If the rate structure isn’t clear from the quote, call the electric provider and find out more. Having all the costing details well outlined before making a decision empowers you to pick the best offer.
Generally, electricity plans in deregulated states are complex and vary among providers. In Texas, they get a little more complex. Texas electricity providers follow a strict code of rules set by the Public Utility Commission of Texas (PUCT), which requires them to show electricity plans based on 500 kWh, 1,000 kWh, or 2,000 kWh usage levels.
Texas electricity providers must include an Electricity Facts Label (EFL) revealing their plans’ finer details. Thus, your ability to read and understand the EFL influences how good a plan you get. EFLs are often complicated, and you may need an expert like Power Wizard to help you grasp the details.
You’ll also find providers offering plans like time of use (TOU) and free bill credits. TOU electricity plans determine the cost of electricity based on when you use it. In a bill credit electricity plan, providers offer you a free bill credit if your monthly electricity usage remains steady.
The different Texas electricity plans are confusing and take some getting used to. Thankfully, Power Wizard can help you make sense of these complicated plans, so you pick the most viable without getting lost in the details.
It’s never a good idea to go with the first competitive offer you get from a new electric provider. You should weigh all your options before making a decision. After analyzing each electricity plan from different providers, select one with the most cost value using your current plan as a benchmark.
At the very least, you should understand how electricity producers, utilities, and suppliers interact in the energy market. Suppliers generate power and send it to the utilities, who then distribute the power over the grid to make it accessible to you. The providers then sell the power to you.
As such, when you change your electrical providers, only the energy rate and customer service will change. Your local utility company will remain intact, as your next supplier will still rely on their equipment — such as wires, transformers, and meters — to deliver power to you. This means your electric bill’s distribution costs will be consistent no matter who you switch to. Only the supply costs will vary.
Swapping your electricity provider only affects the energy rates and customer service. Therefore, when your energy bills constantly rise, it may be appropriate to start shopping for electricity plans with better rates. Also, if you receive bad customer service from your current supplier, you can decide to pull the plug on them and find a more responsive alternative.
But if you’re having problems with the equipment or experiencing power outages, it’s not an indicator to change your electric provider. Such issues are beyond your provider’s scope because your utility is responsible.
With the different electric providers offering you competitive rates, settling on one provider can be a tricky experience. But that’s if you do it alone. When you partner with a top electricity comparison company like Power Wizard, you’ll enjoy a smooth transition because we’ll help you throughout the process. Check us out today!
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