Introduction
A lot of people, due to the sudden spike in energy usage when staying and working from home, are looking into changing their energy supplier for various factors such as price and convenience. The easiest thing to d is, of course, to compare electricity prices, but many that have switched energy providers multiple times will tell you that it is far from the only factor. In fact, many times, when you find the lowest cost energy, you should immediately be wary about what catch there is.
It might be that you want a provider with an added focus on renewable energy. This could be very good to have for the knowledge that your provider is eco-focused and renewable, which would make it much more sustainable in the very near future.
Depending on the kind of consumer you are, some providers might very well be better for you due to their loyalty programs and reward points. You get the deal. This article is here to walk you through some of the decision factors and how to better decide between options for your new energy provider.
Starting with why you switch
When people ask “What do I know what to look out for?” they assume that we or professionals will know better than they do, but really the beginning decision point always comes down to your personal use. No matter who you ask, unless your husband owns a major provider, you won’t get any better advice on how you use your energy.
Electricity usage can vary in price based on the time of day, for example, but if you’re not a night owl, then having good price spreads might not help you. Power outages might be the reason why you’re deciding to change providers, and if you get distracted by cheaper prices, you might end up signing a provider that’s even less reliable than the one you’re with currently.
Make sure to always start with why you switch and keep that in mind when you look in the market. When you’re looking for new energy providers, also make sure to put aside the time to do so. If you start with your reason for switching, even if it’s just to explore what other options are available, you must feel that this decision might have large enough consequences that it’s worth a proper think.
Many customers we’ve noticed are very enthusiastic about the idea of changing up their energy provider. When it comes to actually meeting sales representatives and putting all the numbers in a spreadsheet, however, their enthusiasm quickly goes away. Can you blame them, though? Have the determination and know this is a decision that will pay dividends in the future so spend good time on it now.
Price
Starting with the big P word, the elephant in the room, price. Price is something that has always been sensitive, but now with energy rates increasing sharply and our daily lives slowly becoming more digitized and spent at home, households all across the world have found their reliance on electricity increasing. This means that, with the economy being the way it is and money being as precious as it’s been, the price is a huge keyword here.
A way that many energy suppliers with sub-par rates may trick you into converting into working with them can be to obfuscate their methods of calculations. When meeting with a sales representative, always demand their base electricity rate and every part of the calculation. If it works out that you’re paying more than an alternative option or the one you already have, be clear about why it adds out that way.
A big reason why a lot of old utility providers make their money is by capitalizing on the unwillingness or the lack of information on the change. Based on where you live, your electric provider could make a difference of upwards of hundreds of dollars a year. Now, that’s a shocking fact to most.
A lot of times, large and established providers scarcely need to reach rock-bottom prices to convince many people to sign with them. Providers like these probably have the infrastructure to offer multiple times what’s lacking in price in value. This might be in the form of free tickets, free frequent flier miles, or many discounts at other retail outlets that might suit you.
Customer Service
While price is far and away and should be such, your biggest consideration in deciding which provider to go with, customer service should not be overlooked.
A very important fact to know is that whatever provider you’re picking knows exactly how they stack up with their competitors price-wise. With other factors, it may be arguable whether a locally-based call center or an online live chat available 24/7 is better customer service, but with price, it’s rather clear cut. If a retailer works out to be about 10 to 20 dollars cheaper than the more well-known provider, ask yourself what about the more well-known provider are you receiving in return.
For a lot of the cases where the customer does a little bit more research, you will find them going with the third or fourth cheapest option available, simply because they find that the customer service will reach them better. Customer service is invaluable when any problems arise, and whatever little you might be saving might be gone completely if you can’t finish rendering something to hand in for your job or can’t navigate a blackout. Your time is precious and your time is money, and for that fact alone, I’d be willing to say to put customer service higher than price, even.
Value yourself and know that you should pick a company you’re willing to work with. Choosing a provider isn’t like choosing something to eat, more like choosing somewhere to do your laundry. If the laundromat constantly loses your clothes and you don’t even know when they’re open, then is it worth it being two dollars cheaper? You can answer that yourself
Conclusion
In conclusion, the two largest factors are customer service and price, and looking out for these two will help you put other things like member rewards and eco-sustainability in perspective. At the end of the day, the provider is only as good as when the bill comes and when a crisis happens. However impressive their sales pitch is shouldn’t distract you from that fact.