4 Telltale Signs That It’s Time to Switch Energy Suppliers

4 Telltale Signs That It’s Time to Switch Energy Suppliers

Image by Daniel Reche from Pixabay

Have you ever felt like you are paying too much on your electrical bill even though you’re saving as much energy as possible? Yep, we all thought of that at one point. You might be currently planning on switching energy providers. Whether you’re moving to a new home or just curious as to how much energy you’re using, considering the signs that you should be switching energy providers can help you decide.

This is the case for an individual household. However, for big establishments like schools and hospitals, getting the information on how much energy you’re using can be complicated since there’s a lot in the equation. Questions like how much energy you are using or how much you will pay for a whole day of operation are common in these circumstances.

If you are hesitating to change your energy supplier, these five telltale signs might help you make up your mind.

Your Contract is About to End

One of the most important things you should do as a consumer is to read the contract’s fine print. This will help you determine all the hidden charges your current energy dealer might have and help you be informed when the contract is coming to an end.

Knowing when the contract will terminate can save you a lot of trouble from all the paperwork. It can even save you some money. It’s important to note that your supplier will move you into a new contract 120 days before your current contract ends. However, it can only take you 28 days to find a new supplier if you want to.

That said, if you are planning to switch your energy supplier, you might want to deal with the ordeal early on within the 120 days time frame. Moreover, when your contract ends, you might be moved into a deemed contract with very expensive out of contract tariffs.

You Can’t Determine How Much Energy You’re Using

If you are running a big establishment, like a school or an office building, you might want to check how much energy your establishment uses in a day. However, this might be hard to determine since it is a prominent place that you are managing.

Of course, you can ask your supplier for an energy audit to see how much energy you are using, but that might not be accurate in some cases. However, energy audits give useful information on how much energy you’re using, how the energy is used, and the time said energy is used.

Such information is handy if you want to monitor your energy consumption closely. With your onhand information, you can assess your energy usage and how much you have to pay. However, if obtaining this information proves to be lengthy and complicated, you might want to consider changing suppliers.

Debt

Many consumers ask if it’s possible for your energy supplier to stop you from switching. The answer is no. Not unless you are in debt to your supplier for over 28 days. When that’s not the case, there is no way for them to stop you from switching to a new supplier.

However, if you are in debt for less than 28 days, your final bill will be added to your exit fees. It will be included in your final bill when you enforce an exit even though the switching window is not up yet. But as long as you can pay the final bill, you can transfer over without trouble.

That said, having debt from your supplier because of unnaturally high costs is a sign that you should switch to a new supplier. They may have jacked up the prices that made your monthly bills higher, leading you to this moment.

Prices are Due to Increase

Speaking of jacked up prices, if your supplier is planning to increase their energy prices, it might be time for you to compare prices in your local area and find a much cheaper one. For example, if you live in College Station, it’s better to compare College Station electricity rates to find the best deals. The same goes if you live in Dallas, Baltimore, or other cities in the US.

That said, regularly checking your energy usage and the energy audit will help you decide whether you want to switch or not. If you think it’s too much for you, you might want to shop around your area to see if you can find a much cheaper energy supplier.

Takeaway

There are other telltale signs that you should switch your energy supplier as long as you inspect close enough and know where to find them. If you decide on switching, make sure to process all the requirements and paperwork immediately to avoid further hassle. That said, always look for considerable prices in your local market to see if you could find a much better deal than your previous one.

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