If you live in one of the 15 states where energy is deregulated, you may be able to save upwards of 20% on your monthly electricity bill by switching energy providers. Switching doesn’t just make sense, though. The average household in the U.S. would save more than cents, too – $277.18 a year, according to the U.S. Energy Information Administration.
What’s stopping folks in deregulated states such as Texas and Pennsylvania from cashing in on those savings? The idea of switching energy providers can be potentially confusing if not downright intimidating. With this guide, we hope to make it easier by walking you through the different variables you’ll want to consider when comparing different providers.
When selecting an energy provider (also called a supplier or an energy service company), you should look carefully at three factors:
- The supplier’s reputation.
- The rate.
- The length of the plan.