Source: ICONS8 Team via Unsplash
If you want to find the best time to change energy suppliers, you’re in the right place. But how? Well, by now, you know that you have more alternatives than ever for electricity providers. It is due to the nationwide trend towards energy deregulation, which has been embraced by nearly half of the country so far. With all of these new alternatives, customers have a greater need to comprehend them.
To start, always remember that it’s crucial to remember that there is not a specific best time to change energy suppliers. The best time to change energy suppliers is now, regardless of when you’re reading this phrase. However, with energy market costs shifting daily, we understand that determining the ideal moment to switch may be challenging.
What’s the best time to change energy suppliers?
We frequently highlight why you should switch your energy supplier and how to do so in our blogs, but you may not know the best time to change energy suppliers. You may feel that it doesn’t matter when you switch as long as you save, but there’s more to consider when it comes to switching times.
1. Switch if there is a lower electricity demand
Because accessible energy is scarce during peak demand periods, energy costs tend to be highest. Local utilities frequently have to turn to secondary energy sources to fulfill consumer demand when energy consumption peaks in a specific region.
In Texas, for example, utilities frequently augment the supply grid with coal-fired power plants because natural gas power plants are insufficient during peak demand periods. Coal plants, on the other hand, are more expensive to power. During peak demand periods, consumers’ energy bills will be more significant due to energy shortages and the increasing cost of secondary energy sources.
Check out this chart from the EPA to get a glimpse of the trends in energy consumptions throughout the months of the year:
Source: Monthly Energy Review August 2021, EPA
• Before winter or summer
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During the months when temperatures are at their most severe, energy needs are often at their maximum. This results in increased energy expenditures throughout most U.S. during the summer and winter seasons, particularly during July, August, December, and January. People’s significant dependence on heating and cooling systems boosts demand throughout these months.
During the sweltering summer months, homeowners’ air conditioners are usually on all day and sometimes all night. So, since we consume much more energy in the winter than in the summer due to lower temperatures and fewer daylight hours, it’s always good to switch to a less expensive plan before the winter months arrive.
When the temperature drops below zero, your heating systems are turned on full blast, 24 hours a day, seven days a week. And, under the higher rate, the more energy you consume, the higher your costs will be. With this in mind, the best time to change energy suppliers is over late summer or early fall to ensure you’re getting the best deal before the more extended, colder evenings arrive.
2. When you’re moving to a new place
Moving in or moving out might be the best time to change energy suppliers and a perfect chance for finding a better bargain. You must notify your existing provider, ideally at least two days before to moving. If you are satisfied with the arrangement you have, you just have to say to your provider when and when you relocate.
Either you change energy suppliers or not, read a meter before leaving home and send it to your existing supplier. You only pay the energy you have used in that way when your final bill for that property is paid. When you move, take a meter to read your new home and deliver it to the energy supply company that provides your new property.
Once you have moved, take a meter in your new house and give it to the power supplier who will supply your new home. If you have opted to transfer energy suppliers and have not passed your former rate, you will be immediately added to the default Standard Variable rate for a new provider. These are usually the most costly rates, so comparing costs and finding something lower as soon as possible might be a smart move.
Remember, the best time to change energy suppliers is not just about timing, but also about knowledge. If you’re looking to have good savings on your next energy bill, you must get in a fixed-rate electricity plan. This allows you to get a great rate fixed throughout a period, and it helps you forget the time fluctuations that come with market behavior.
3. Just before your current contract expires
The last best time to change energy suppliers is before your current contract expires. Just like any other decision in life, the sooner you address the issue, the better. Don’t wait until your deal ends to start checking around for different electricity rates, compare various energy providers in your area, visit marketplaces – like ours – to find a great deal, and get moving.
Before your current contract ends, start arranging up your new supplier or negotiate a cheaper rate with the same provider to avoid automatically switching to a variable rate with a pretty high price.
In general, providers notify you before your contract expires, and that’s the best time to change energy suppliers. If you’re not sure, they do inform you, set the alarm. This will save you significant headaches in the long term. If you relocate within this time, called the switch-off window, there is usually no exit fee. The earlier you transfer, the quicker you start saving money after you’ve gotten notification of the deal’s conclusion.
Whether you’re new to this situation or energy choice savvy, we want to be of help at Power Choice Now. We offer you all the information about the best time to change energy suppliers, to make sure that you have a seamless switch with no service, product, or quality change when it’s the best for you! If you switch to deregulated energy, you will have complete control over your monthly expenses.
Go On, Be Powerful!
Reach us through our website powerchoicenow.com, or call us now at 833-762-0555. One of our Power Choice Now experts will be happy to answer all your questions!
