Monday, October 19, 2020
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4 Signs It’s Time to Switch Your Energy Supplier

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One of the most common reasons people switch energy suppliers is that they feel like they’re paying a little higher than before. Of course, seeing if your gut feeling is real or not is hard enough since you can’t just phone down the office of your energy supplier.

This is especially true if you’re looking at the energy consumption of a business establishment. For establishments, calculating energy consumption can be tricky since the scope is too big. On the other hand, you can at least make an educated guess on how much you’re spending on energy monthly for residential homes.

One thing you can do is to compare the energy rates of the other energy suppliers. You might see a much cheaper one, and thus you are thinking of changing your current supplier, but you still aren’t sure if you should do it or not.

This can be a complicated decision if you’ve been with your energy supplier for a long time. To help you out, getting to know the signs that it’s about time to switch can help you anchor down your decision.

Your Contract with the Energy Supplier is Almost Over

If you’re thinking of switching energy suppliers for a long time now and you know that your contract is about to end, this might be the best time to switch. However, you have limited time if you want to switch.

Energy suppliers will move you into a new contract 130 days before your current contract ends. Also, this transition can be long and tedious. Switching suppliers, however, only takes about 28 days for a new contract in a new supplier.

If you’ve decided to switch suppliers, you would want to switch early before the 120 days end. Not only will it save you a lot of time, but it also saves you a lot of money in the process. Furthermore, letting your contract end will prompt the energy supplier to transfer to a deemed contract that usually charges a lot higher than your previous one.

The Bills are Getting Higher

One of the most common reasons people switch energy suppliers is that their bills are getting unreasonably higher every month. If the bills are lower, then it might not pose a problem for most. But what if your bills are continually rising every month? The best answer to that is to change a supplier.

How to know if the other suppliers are much cheaper than your current one? You can do research, of course. Not only will you know the benefits of the energy supplier, but it will also help you with the transition once you pick your desired supplier.

That being said, the next time you do an audit of your expenses and see that one of the highest expenses that take a toll on your budget is the energy bill, you already know that it’s time to switch.

You Don’t have a Single Clue on How Much Energy You’re Spending

If something can’t be measured, it’s most likely cannot be managed. This might not be true to every circumstance, but it’s right to energy management. If you don’t know how much energy you’re spending at least every month, then it will be more challenging or pretty much impossible for you to manage your energy expenditure.

Always remember that the first step to energy management is to know how much energy your household consumes.

But how to know how much you’re spending on energy? For this, you can always call your energy supplier for an energy audit. However, if your energy supplier is hard to contact, this might be a problem. The good news is that many energy suppliers nowadays utilize the available technology to get more in touch with their customers.

If your energy supplier has no trusted means of contact and is even hard to contact, to begin with, then all the more reason to switch to a new supplier.

The Rate Keeps Increasing

One undeniable sign that you should switch your energy supplier is when your supplier plans to increase their rates. If you are willing and able to tank the increase, then it’s okay.

However, if you don’t want to suffer the increased price, you might want to transfer to a new supplier that has a lower price. That said, you might want to regularly check your energy expenditure (if the information is accessible) to see if it’s time to shop around for a new supplier with competitive electric rates.

Takeaway

Transferring to a new energy supplier is a long and tedious task. However, some of the work can be mitigated if you do the transferring process earlier. It will also give you a lot of time to shop around for a much better energy supplier. Switching might be a big struggle and hassle for you, but it’s much better than paying steep bills in your previous supplier.

 

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