If you pay the bills for your home, you may already know which companies provide utilities such as electricity. However, if you've recently moved into a new home, you may be wondering who your electric company is. If you live in a regulated area, there is one designated energy utility company for your home or business. People living in a deregulated energy region have the option to select an energy supplier.
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Before we cover how to find your energy supplier, it's important to know the difference between your utility company and your energy supplier/provider. For those living in regulated states, your utility company and energy provider are likely to be the same company. This company not only supplies the electricity, but it also manages the transmission of it (e.g. through power lines) to its final destination.
In deregulated states like Texas and Pennsylvania, however, the utility and the energy provider are often different entities. The utility handles the transmission of electricity but will not provide the electricity itself. Instead, your electricity will be supplied by your Retail Electricity Provider (REP). Your REP is also who you'll be paying your bill to each month.
When you move into a new home, it's essential to learn who the electric company in your area is as soon as possible. When you figure out your utility situation, you'll be able to give an accurate meter reading on the day you move in, so you're charged for your energy usage and not previous residents' usage.
You may also be on a deemed contract when you move into your new home. A deemed contract is when a customer moves into a new property and has not yet agreed to any contractual terms with the supplier. If you're on this contract, you may receive a costly per-unit rate for any power that you use.
There are many ways to learn who your electric company is. If you live in a regulated area that doesn't allow you to choose your provider, the designated utility company that serves your address will also be your supplier. Follow these steps to find your electric utility company:
Many towns and cities across the United States have deregulated their energy markets over the years to create lower energy prices for customers. In a deregulated market, your energy provider may be different than the utility service offered locally. A utility delivers energy to your home or business, whereas an energy provider supplies your power and determines your energy rate.
If you live in an area with a deregulated market, it's beneficial to shop around to find the best rate. Some states allow residents to choose their electricity provider, natural gas provider or both. If you're unsure if your area offers energy choices, contact your local utility or state regulatory commissions.
As you consider potential plans, it's essential to factor several aspects into your final decision. Five factors you should look for in your new energy supplier include:
While shopping around for different energy suppliers, EnergyBot makes it easy to find the lowest deals in your area. Easily compare fixed energy rate plans with no hidden fees or other tricks. For a transparent and straightforward energy supplier solution, contact EnergyBot today.