Alternative Electric Suppliers Lower Electric Bills

Posted on Nov 29, 2012 in Energy Efficiency by Contributing Writer 0 Comments

There are two main ways to save money on your electric rates, you can either lower your bill by conserving energy or shop for alternative electric suppliers. Most people know about the first option. However, depending on your energy needs, you may have already lowered your electric rates as much as possible through energy conservation. So that leaves the second option: shopping for alternative electric suppliers.

Understanding Alternative Electric Suppliers

Prior to 1999, the energy market was regulated. Your local utility company supplied, transmitted and delivered your energy. However, after the legislature deregulated energy, residents could shop electric suppliers and choose their own electric company. End result? Residents had the opportunity to lower their electric rates by choosing a competitive electric company.

Those who switched soon after the deregulation enjoyed savings. However, people who shop alternative electric suppliers now have the opportunity to enjoy even bigger savings on their electric rates. And that’s because the open energy market has created plenty of electric suppliers, which in turn has created competition for your business.

Top Reasons to Shop Around

Saving money on your electric bill is a prime reason why so many people are comparing rates among different electric suppliers. However, that’s not the only reason to choose a new electric company. Here are two other good reasons:

Shopping for alternative electric suppliers gives you freedom that you didn’t have before. You can let your local utility company continue to supply your energy. Or you can seek out a new electric company to supply energy. But the point is, the local utility companies don’t have a monopoly, so you now have freedom of choice.

Shopping for alternative electric suppliers allows you to seek out greener alternatives. Perhaps your local utility company isn’t as heavily involved in investing in renewable energy. No problem – when you shop for alternative suppliers, you can choose a electric company that focuses on greener energy.

As you can see, there are several really good reasons for shopping for electric suppliers. And the good news is that the switch is seamless. Your new electric company will inform your utility company about the switch, and in a billing cycle or two you’ll enjoy the new electric rates for the supply portion of your bill.

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Bio line – Philip is a guest blogger who blogs on behalf of Make the Switch USA LLC. They are the online source that allows you to choose and switch the NJ electric suppliers among many.