Electricity Deregulation – Giving You the Power to Choose

Electricity deregulation has been around for many years and affects a number of states. There are advantages to this for customers, enabling them to choose the best electric rates to meet their requirements and budget.

The United States is one of the largest energy consumers in the world, which has resulted in a large number of suppliers competing against each other to secure the best electric rates, which they then share with their customers. The great news is that this has put the customer in control, giving them the power to choose.

Deregulation has given suppliers the ability to negotiate their own rates with power companies and then promote these in different packages and electric rates to their customers. This means that customers now can switch suppliers to take advantage of the rates available.

Most of these suppliers offer variable and fixed rates, both of which have their own advantages and disadvantages. Fixed rates are a set rate that’s charged, enabling homeowners to budget so, while variable fluctuate based on the prices achieved by the supplier.

The problem with variable is that they are low the one week and high the next. The disadvantage with fixed rates is that you get stuck at a set rate, even when the rate drops for weeks at a time. Deciding on the best type of package based on your expenditure budget and what type of solution you are looking for.

The best place to find out about electricity deregulation and the offers now available is to use a comparison site, a site dedicated to your specific place. Each state has different suppliers, so it’s important that you choose a site that will focus on your state to help you find the suppliers, rates and packages available to help you make a switch without any problems.

The advantage to making a switch is that you receive your bill from your current company, that doesn’t change, so there is no interruption to your service in any way. Most homeowners concern is about changing suppliers and are always under the impression that their current company will cut the power and it will be hours, if not days, before the new company turns the power back on.

Luckily this is not the case, it’s only the electricity supplier you are changing, but you keep your current provider, therefore there are no delays and you can start saving straight away.

There are a few considerations you should cause into your decision before making any final decisions. The first is that your current contract must over or nearing completion. Some companies will charge a penalty fee for cancelling early and you need to weigh this up against how much you can expect to save to decide if it’s a worthwhile change or if you should wait for your contract to end before making a switch.

Always do research on the suppliers offering the best deals before making any switches. If you have chosen a comparison site, they should give you all the information you need on each supplier. Give them a call to test their customer service and professionalism and take advantage of the internet to find out as much as possible on their service through customer reviews.

Go through the choice of packages available and do your homework, the only reason you will want to switch is to save money, so you need to work out your current annual consumption and then compare it to how you can save to decide if it is the right choice for you.