How To Shop For The Best Electricity Plan
Shopping for an electricity plan doesn't have to be difficult. However, for consumers living in states with dregulated electricity, the shopping process can feel overwhelming.
With so many electricity providers offering different plans, it can be hard to know which one is right for you.
The good thing is, you’re not alone.
Come with us as we discuss how to shop for the best electricity plan for you.
Before we dive in, let’s look at what you can expect from an electricity plan. The majority of people believe that an electricity plan is simply the rate or price per kWh. However, there is so much more to consider.
We like to think of an electricity plan as the contract between the electricity provider and customer, which provides electricity services to a residential property or business.
You’ll find the following items in a standard electricity plan:
Tarifa o precio por kWh: Esto se conoce como la "tarifa de suministro de energía" en la mayoría de los estados. Por ejemplo, en Texas, las tarifas que anuncian los proveedores de electricidad son los precios medios de la energía Y el suministro.
Duración del plazo: La duración del contrato es el periodo de validez del precio y el periodo durante el cual te comprometes con el proveedor.
Tipo de plan: Las tarifas pueden ser fijas, variables o indexadas en función del tipo de plan.
Porcentaje renovable: ¿Es el plan un porcentaje verde o un plan 100% renovable?
Tarifa de cancelaciÛn: Esta es la cuota que tendrás que pagar si decides cancelar el servicio antes de que finalice el contrato.
Características adicionales: Algunas características adicionales que puede encontrar en su plan de electricidad incluyen termostatos inteligentes, herramientas en línea, programas de recompensas, electricidad sin depósito o electricidad prepagada.
While many pieces form the larger puzzle of an electricity plan, most people consider the rate first and foremost.
Let’s take a look at some of the significant considerations you should make when looking for the right electricity plan.
At first glance, many electricity plans look the same. For this reason, many consumers fall into bad deals that look good at first. It’s essential to read the description and policy of each electricity plan carefully so you can get a better idea of whether or not it works with your budget.
When you shop with WattBuy, you can find the cheapest plan for your needs based on your usage data. WattBuy can also identify plans that are most likely to have low or no deposits (in Texas) and plans with fully renewable energy.
By shopping with features in mind, you can see basic electricity plans vs. fully renewable plans or plans with special incentives.
Fixed-rate plans have the most stability, which is why they often tend to be the most popular with consumers.
Check out the summary of each prospective plan to get the low-down on everything you need to know.
Know how much you can afford to spend on electricity with your current budget and look for plans that mesh well.
One of the most important things you’ll want to look at is the length of your contract. There are plans that lock you in for years or months. Some are even month-to-month.
Plans that are greater than 12 months are known as long-term plans. More often than not, these kinds of plans come with more significant termination fees. However, they also often offer the best value in terms of pricing.
Plans that are 12 months or less are known as short-term plans. 12-month contracts with annual renewals are the most popular types of short-term contracts.
With a month-to-month electricity plan, you will get the most flexibility. However, the rates can fluctuate each month, making it difficult to budget for.
When searching for electricity plans, you will find three main types:
Estos planes fijan la tarifa por kilovatio-hora (kWh) para toda la duración del contrato. Tu tarifa no subirá aunque suban los precios del mercado, pero tampoco bajará si los precios del mercado bajan..
La tarifa que paga puede variar en función del coste de la electricidad y puede modificarse a discreción de su proveedor de electricidad. En la mayoría de los casos, encontrará tarifas variables en los contratos de mes a mes.
Estos contratos también son planes de tarifa variable. La diferencia es que estos contratos están vinculados a un índice específico, como el precio actual del gas natural. Los contratos indexados también pueden incluir planes por tiempo de uso, como planes con noches o fines de semana gratis.
If reducing your carbon footprint is important to you, you might consider going green with fully renewable energy.
By selecting your own electricity plan, you can gain control over the amount of electricity that comes from clean, green sources, such as wind and solar.
When shopping for electricity plans, ask how much of the power comes from renewable sources. There are many companies that provide 100% green electricity.
In addition to being good for the environment, renewable electricity may also come with incentives. Some of the most popular incentives include bill credits, gift cards, veteran or military discounts, or charitable contributions.
Enter your address and WattBuy's proprietary energy estimation model will find the best electricity options for your home
Once you think you have found the right electricity plan for your needs, make sure to read through all of the included documents and check to see if there are any additional fees. When you reach a point where you are confident with the plan you’ve found for your household, the process of signing up is simple!
Depending on your state, you may have a few days to rescind your contract if you change your mind, though we recommend being confident about your choice before signing on the dotted line.
Of course, if you still need help finding the right plan, make sure to get in touch with us here at WattBuy. Our goal is to simplify the process of identifying the cheapest and most popular options for electricity plans so consumers can get the plans that work best for their needs.