For businesses of all sizes – from small businesses to enterprise-level, the Massachusetts deregulated market has enabled competition. Today, every business has the ability to compare energy plans from top energy suppliers and shop for the best rate available.
In most cases, businesses will be able to effectively manage and/or reduce their monthly electricity costs by switching energy plans and providers every year.
In a competitive electricity market both commercial and residential customers have the power to choose their specific energy supplier, plan and rate, and then switch – based on any existing contract terms, renewal dates and fees. As an electricity customer, it’s important to track your contract renewal date. When your energy plan is due to renew, it’s time to compare electricity rates and switch to the best rate for your home or business. When switching energy plans, keep these 5 easy steps in mind:
This is the easy part and it starts online. Today, businesses have a variety of online websites and tools to research and compare energy providers, plans, and rates. The best way to compare providers is to use a simple website like EnergyBot. In less than 5 minutes, you can enter basic information about your business, like your zip code and monthly electricity bill, and compare dozens of top energy suppliers in your area to find the lowest energy rate.
When you are comparing electricity plans, it will pay – literally – to take time to review the plan details, contract terms, and legal copy. Energy companies may entice you with a low rate, yet the fine print will reveal that it is a variable-rate – which is only applicable when you are in a specific range of kWh usage. Also, review the contract term, cancellation fees, and out clauses before signing up for a new plan.
It’s important to do your research and we have you covered. Check out this article to learn more about the different types of energy plans and rates.
In many cases, the energy supplier, broker or website that you are using to find a new electricity plan will ask you to upload your most recent electricity bill. Although this may feel a bit intrusive, it provides pertinent account information and is important to securing the best energy rate available for your business. Your energy bill has your business information as well as the data that outlines your monthly energy usage.
To add, your new energy supplier will require proof of your energy usage before you can switch and your electricity bill is the easiest way to meet the requirement.
If you own or manage a larger business with high energy usage (and higher monthly bill), then it may be beneficial to request a custom pricing quote. For larger companies, the process is a bit different. Due to your high energy usage, energy suppliers require a comprehensive review of your energy usage to provide a custom quote on a new plan and rate. At EnergyBot, you can get custom pricing support from one of our energy experts.
After authorizing a switch to a new energy provider, you will receive a confirmation email with the plan details and start date. It’s very important to review the plan you authorized and the new start date. The transition to a new supplier will be seamless…you won’t even notice until you get the electricity bill the next month.
The Department of Public Utilities (DPU) is the government organization that oversees utility companies in Massachusetts. This includes electric power, natural gas, and water companies. The DPU also regulates the safety of bus, moving, and other transportation network organizations.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. Each utility is responsible for transporting electricity from the generators to residential homes and businesses in their specific region of Massachusetts.
Energy providers in Mass., including Constellation and Direct Energy are the competitive energy providers. Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).
In most cases, the energy consumer – the homeowner, renter, or business – signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like the cancellation fee policy.
Mass. is home to over 650,000 small businesses in a wide variety of industries and categories. Small businesses also make up 99.5% of the total businesses in Maryland with the remaining .5% being large or enterprise level companies.
As of the latest SUSB census, Maryland small businesses employed over 1.5 million people representing 46% of the total employees in Maryland.
Buying solar panels in Massachusetts can be a great way to lower your carbon footprint and electric bill. Thanks to the state wide SMART program, it has never made more sense to install solar on your home. Learn more about the solar incentives an average solar panel cost in Massachusetts here.