Dan Does Energy Part 3: 2019 Electricity Trends

Read Time: 3 Minutes


In our final post, our Head of Operations and “all things energy” guru Dan Schilens discusses energy price predictions and how consumers can take advantage of living in a deregulated energy market. If you missed parts 1and 2 of this series, you can catch up here (Part 1) and here (Part 2).

With electricity prices estimated to increase anywhere between 2-10% this year (keeping in mind factors such as location, utility, and supplier) what can consumers proactively do to ensure they are getting the best rate?

Everyone has their own opinion on what is going to happen with electricity rates, and the reality is we are dealing with an ever-changing market. The best advice for consumers is to educate yourself and be aware of the various factors that could impact your electricity bill. Factors such as your utility is investing in infrastructure, a market-based event, or extreme weather can result in change in costs. As a consumer, here is what you can do:

  1. Be aware of extreme weather-related events and conserve power when you can during those events.
  2. Look at your efficiency and how you consume power. Maintain your equipment and/or appliances (i.e. HVAC systems), upgrade your lighting to LED, invest in smart technology sensors or devices that turns off when not in use.
  3. If you live in a deregulated market, shop early and monitor market rates. Don’t wait until your contract is near term expiration before starting the shopping process.
  4. Develop an overall energy strategy and know what you are trying to accomplish and how that will fit into your overall budget.

What are the primary benefits of living in a deregulated energy market when it comes to choosing your own energy plan? How can consumers take advantage of these benefits?

The primary benefit of living in a deregulated energy market is that you, as the consumer, have the option to shop. Instead of paying for rates that may fluctuate over time, you get the benefit of locking in a set rate based on today’s cost of generation. This does not mean that electricity rates will always be lower, but it does allow for consumers to pay the true cost of power today.

Consumers also have the benefit of buying power into the future. This means you don’t have to wait for your current contract to expire before looking to purchase power for your next plan. Keep an eye on the market and get regular quotes. Prices will fluctuate up and down, but you will have enough time to make an informed decision.

EnergyBot is an online marketplace that offers businesses the ability to shop energy rates from some of the top providers in your area. We make it easy to shop for the best and most affordable plan for your business.

Written by Team EnergyBot

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