Whether you’ve recently moved to Texas, live in a newly deregulated region like Lubbock or are a long-time resident of the Lone Star State, choosing an electricity plan can be a bit tricky. From the many retail electricity providers (REPs) available to sometimes-confusing plan pricing, it’s easy to make a costly error or two along the way.
Keep reading for five common mistakes to avoid when making energy rate comparisons.
Mistake #1: Ignoring the fine print.
There’s more to an energy plan than just the price per kilowatt hour (kWh). To make sure you fully understand the plan you’re signing up for, including details about additional fees, usage restrictions and potential rate changes, make sure to read the plan’s Electricity Facts Label. This will help you avoid unpleasant surprises on your electric bill.
Mistake #2: Overlooking contract length.
Every plan has a contract term length. Common terms are 6 and 12 months, which secures your energy price for that period of time. But some plans are month-to-month where the pricing can vary each month. There are also longer-term contracts like 24 and 36 months. Only you can determine which contract length will work best with your current and expected living situation.
Mistake #3: Choosing the “cheapest” electricity plan.
When you compare energy rates in Texas, the cheapest electricity plan is not always the best choice. That’s because the price per kWh listed on a website’s search page may have additional fees and charges in the fine print. (See Mistake #1 above!) Or you could be looking at an introductory price, which could skyrocket after the initial period. Both situations may drive your electricity bill higher than you’d expect.
When you’re shopping for energy, you want to make sure you’re comparing apples to apples. This may require a little math, but doing so will help you find the best electricity plan for your budget.
Mistake #4: Forgetting to check reviews.
What good is a cheap energy plan if it comes with billing mistakes or customer service headaches? Your time is valuable, so you should consider the reputation of an REP before you sign up. Are online reviews mostly favorable? Are there any common complaints? Do your family and/or friends recommend the REP? Initial research prior to making energy rate comparisons will help you choose an electricity provider you can trust to meet your expectations.
Mistake #5: Not considering your usage patterns.
Before you compare energy rates, assess your daily and weekly energy usage patterns as well as your billing history. This can help you zero in on a plan that works best with how you use energy in your home. For example, a time-of-use plan that offers free or discounted nights or weekends could result in cost savings if your heaviest usage falls within the stated timeframes. (Again, always read the fine print!)
Avoid these common mistakes by searching with Everything Energy
With Everything Energy, you can make energy rate comparisons with ease — and avoid the potentially costly mistakes listed above. You’ll be able to access plan documents, view contract term lengths, read customer reviews of trusted REPs and make apples-to-apples price comparisons using your own usage history.
Yep — you can do it all, in one place. It’s free, it’s simple, and when you find a plan you like, you can enroll with just a few clicks. Get started today!
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