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If you live in a deregulated energy market, you have the ability to choose your energy supplier and rate. The purpose of energy competition is to give consumers more control and better rates. However, finding the best energy plan and rate for your business has become more complicated than ever. Here are some tips to keep in mind when shopping for an energy plan that doesn’t involve visiting various energy rate aggregators or creating complex spreadsheets to find the best rate:
Knowing when your electricity contract expires is key. It is recommended to begin shopping for a new plan a few weeks before. Most people make the mistake of staying with the same company who when your contract expires will typically roll you over to a much higher rate.
Reviewing your energy usage for the past year can help you figure out your monthly and seasonal usage. Some suppliers have usage targets and charge steep penalties if you go over or under a certain kWh usage threshold. Understanding your usage can help you avoid this penalty.
If you’ve been with the same energy supplier for years, you may not have realized that there may be other suppliers in your area offering lower rates. You can learn more about a supplier’s customers service record and check out their rating with a simple Google search.
Some electricity companies provide hidden fees and teaser rates. Also, when working with an energy broker, they may “bake in” fees and commissions into your overall energy rate- which means you are paying more than you should.
Online marketplaces like EnergyBot allow you to shop plans from different suppliers and compare rates. EnergyBot rates are simple, transparent, and published on our site every day for you to compare. Leveraging an online platform like EnergyBot to shop for energy plans also cuts out the middleman (energy brokers) and their commissions and fees, ensuring that you get the lowest rate you can find online.
At EnergyBot we understand that finding the best energy plan is complicated at best, which is why we work hard to make it easy. Shopping for an energy plan should be a simple and transparent process, leaving you feeling confident with the choice you made.
When it comes to buying pretty much anything – a car, furniture, shoes, or even pizza…we are all looking for the best price. Which is, of course, usually the lowest price. So we shop around…visiting online stores or stopping by traditional brick-and-mortar stores or even simply asking friends for recommendations. Eventually, we will find a price that we’re willing to pay and make the purchase.
If you made the commitment to be a green business, or just want to be a little more green, then signing up for an energy plan that includes green energy sources is one of the simplest ways to take that first step and reduce the carbon footprint for your business.
Introducing EnergyScore™ – a free tool from EnergyBot that reveals the hidden factors that energy suppliers use to calculate and quote an energy rate for your business. There are more than 19 factors that determine your energy rate. Without a PhD in energy, it’s nearly impossible to break down each factor and understand how it influences and contributes to the final energy rate in your energy plan.