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When you need to compare electric supplier rates, it is important to have the information you need to make sure you are choosing wisely. You may find a very low rate, but there could be associated terms and conditions that could harm you in the long term. It does not matter if you are looking for a plan for your business or your home, with PowerChoiceNow you will find the accompaniment from representatives that will gather your consumption information to assure that you receive fair plans according to how you use your energy.
Understanding different types of energy rates
In your bill, you will find fees associated with both your utility company (in charge of delivering power to your place including Duquesne, MetED, Penelec, Pennsylvania Power and Light, PECO, West Penn, or First Energy) and your energy supplier (in charge of producing the energy you use). You can find out about Pennsylvania utility companies by visiting the Pennsylvania Office of Consumer Advocate.
The utility company that provides service to your home or business depends on availability for your area, which means that you are capable of choosing an energy supplier but the utility company is available depending on your zip code. Whenever you research an energy plan, you will find different rates when trying to compare electric supplier rates that are specially designed to match the needs of each type of energy user. Make sure to have your latest utility bill with you when you fill out our form once you have entered your zip code. The information requested will help PowerChoiceNow provide you with available and reliable energy suppliers to match your energy needs.
There are different types of plans and rates, which make a huge impact on how the energy service is charged making it paramount when trying to compare electric supplier rates. Here they are explained:
Stable or fixed-rate plans
Fixed-rate plans are mostly associated with a contract, these plans have a price per kWh that is set from the beginning and the rate is stable throughout the time the contract lasts for. Plans can last 6, 12, 24, and, 36 months in most cases. This means that regardless of the market fluctuation, the rate is going to be maintained, this type of plan is recommended for renters that want to have expenses planned during the time of their lease contract as well as for those homeowners. Fixed-rate plans can be renewed once the plan contract has finished, even though the rate could vary when trying to renew.
It is also important to ask about cancellation fees in case the consumer is not sure if they will be able to comply with the contract for the total length. Terms and conditions are also very important and making sure to read the fine print is also critical to be able to understand the variables that could affect the final expenses associated with energy consumption.
Fixed rates can seem to have higher prices than other types of plans, but the main attribute associated with fixed rates is stability, the energy market fluctuates depending on energy demand which can suddenly increase prices for those out of a fixed-rate plan.
So, having this type of plan allows consumers that are trying to compare electric supplier rates to have some control over their energy consumption, that way users know that if their use of energy in the household is similar month after month, the utility bill will be similar every month, and knowing that whenever there is an increase or decrease in energy consumption, they can expect a higher or lower electricity bill.
Variable-rate plans
Variable-rate plans are associated with spot market values of energy and natural gas, meaning that the rate fluctuates depending on market demand. This helps consumers take advantage of market lows, but still, it is critical to consider and be prepared for rate hikes whenever there is a high-demand period.
Variable-rate plans are recommended for users looking to compare electric supplier rates that want to avoid having to stick to a contract, as well as those consumers that do not plan to spend much time in the same property, for whose being tied to a contract would not be preferred.
Indexed rates
Indexed rate plans are similar to variable-rate plans since there is fluctuation in the price per kWh, the difference is that the rate fluctuation is not tied to market demand, instead, rates are tied to a mathematical formula which makes it very complex. We avoid recommending these types of plans due to their complexity, but consumers will find options with indexed-rate plans.
It is recommended for buyers looking to compare electric supplier rates to assure they understand the mathematical formula very well before deciding to choose this plan, making sure that the variability of the rates is comfortable with the budget.
Time-of-use plans
Some suppliers use time-of-use plans, if someone is trying to compare electric supplier rates they should know that suppliers are offering customers rates associated with day timeframes, days, or weeks with a specific rate. Even offering timeframes that are free of charge, the perk with time-of-use plans is that energy-intensive tasks like laundry can be performed at low-cost timeframes.
It is important to highlight that companies compensate those low-cost or free time frames with higher prices during other timeframes, which can end up making the final average expense higher than with other plans. It is important to also keep in mind that AC, HVAC, refrigerators, and other appliances require to use of energy during the entire day.
Knowing how to choose the length of the contract term
Users will find many rate options when they compare electric supplier rates regardless of whether the utility company is Duquesne, MetED, Penelec, Pennsylvania Power and Light, PECO, West Penn, or First Energy. These options will include many rates that vary depending on the type of rate plan as well as the length of the contract. Making it critical to check both the rate price and the length of the contract.
Recommendations for consumers depend on many factors, such as if the customer is a renter, in which case, the customer should probably choose a term corresponding to the length of the lease, however, if the client is a homeowner, it may be wiser to choose a fixed-rate plan with a long-term contract, protecting the rate for multiple years.
Where to compare electric supplier rates?
PowerChoiceNow is specially designed to help people find electricity plans that match their needs and compare electric supplier rates. It is recommended to have a utility bill handy to start the process, if the utility is Duquesne, MetED, Penelec, Pennsylvania Power and Light, PECO, West Penn, or First Energy, there are many chances that a good plan is available. At PowerChoiceNow we have designed a form that can be filled with information about energy consumption that will help provide rates that match the consumption needs of the users.
Make sure to also visit our PowerChoiceNow blog, besides being able to compare electric supplier rates, you can visit to be updated regarding energy-saving tips (https://www.powerchoicenow.com/blog/energy-bill-money-saving-tips/), and news about the energy industry.
