January is Get Organized Month! After a full and often hectic December, now is the time to bring order to your life. From being on time to cooking healthier meals to starting a hobby, organization helps you succeed. And finding low electricity rates is no different.
Read on to find out how to get organized when it comes to getting low-cost electricity without the stress.
The 5 W’s of finding low electricity rates
Don’t just set out looking for low electricity rates without a plan. Get organized by answering the 5 W’s first: Who? What? When? Where? Why?
WHO do I want to give my business to?
Not all low-cost energy plans are created the same. There are many Texas electricity providers out there. Make sure you choose a provider that you can trust.
You may already have a few names in mind based on past experience or word of mouth. That’s a great start! It’s also wise to be open to other energy companies — as long as you do your research first.
Also, you might want to consider more factors than just looking at companies with low electricity rates. For example, if sustainability is important to you, you can look for a provider that offers affordable clean energy plans. Or, if the bulk of your electricity use comes at night or on the weekend, a company that offers Time-of-Use plans could be a great match for you.
Action items to keep you organized:
- Do some initial research to narrow down the companies you trust the most and that have plans that best fit your needs.
WHAT do I need to have on-hand if I want to switch electricity providers?
When you’re ready to enroll in a plan, you’ll want to have certain info handy to finish the process. You may be asked for some or all of the following:
- Service address
- Email address
- Phone number
- Date of birth
- Social Security Number OR driver’s license number (This is required to verify your identity. The low-cost electric company you enroll with will usually run a credit check to determine if a deposit is needed from you.)
- Credit card number (if you want to set up automatic payments)
- Preferred start date for your electricity
- The name of your current electricity provider
- Your ESI ID (Electric Service Identifier; pronounced “Easy ID”) (A 17- or 22-digit unique identifier assigned to each deregulated electricity meter connected to a home or business in Texas. You should be able to find this on one of your home energy bills.)
Action items to keep you organized:
- Gather all of this info ahead of time, in one place. It will make for an easier and faster enrollment process when the time comes.
WHEN should I start looking for low electricity rates and providers?
If you’re moving to a new area, you’ll clearly need to start looking for low energy rates and providers immediately.
But if you just want to shop around and switch plans at your current residence, you’ll need to keep some rules in mind. According to the Public Utility Commission of Texas (PUCT):
“Retail electric providers are required to notify residential customers at least 30 days before a contract expires. The residential customer can switch without incurring an early termination charge if the switch is no earlier than 14 days before the contract expiration date provided in the notice. If the customer takes no action in response to the notice, the retail electric provider will serve the customer on a month-to-month product.”
So, if you are currently in an electricity contract and do not want to incur an early cancellation fee, it is best to switch plans 14 days or less before your contract expires. In the meantime, though, you can still be keeping an eye on the plans that are being offered.
Action items to keep you organized:
- Check your current plan’s Electricity Facts Label (EFL) to determine what, if any, your early cancellation fee is.
- Check your current electric bill or account to see when your contract expires. Mark that date on your calendar.
- Add other helpful items to your calendar, such as “Start shopping for electricity” 30 days before your contract expires, and “Switch energy plans” 7 to 14 days before your contract expires.
WHERE do I start shopping for low electricity rates and plans?
You could visit each provider’s individual website to search for plans. But another more convenient option is to search an energy broker like Everything Energy. Doing so is free, and lets you make apples-to-apples comparisons of pricing and plans using your specific usage data and preferences.
Everything Energy also provides monthly bill estimates using the information you input. This gives you an even clearer idea of which low electricity rates are actually the best options for your individual lifestyle, home and habits.
Action items to keep you organized:
- As your contract expiration date draws nearer, visit EverythingEnergy.com. The search tools are super easy to use and should help you narrow down your choices quickly!
WHY should I take the time to shop for low-cost electricity?
You might be wondering why you wouldn’t just let your current electricity plan auto-renew or choose a new plan from your current provider when your contract expiration date approaches. It’s definitely an easy option. But often, the best results (i.e., low electricity rates) don’t come from choosing the easiest route.
As referenced earlier from the PUCT, If the customer takes no action in response to the [contract expiration] notice, the retail electric provider will serve the customer on a month-to-month product.”
If you’re not familiar with month-to-month electricity products, check out the information on term lengths here. In a nutshell, a month-to-month plan will come with a variable rate that could spike as the market rate increases. These month-to-month plans offer customers flexibility — but at a price.
So, you could let your plan auto-renew. But that could end up costing you much more than you’re used to.
If you choose a plan from your current provider, you may also be paying more than you were on your previous plan. It never hurts to shop around first to find low-cost electricity for your home.
Action items to keep you organized:
- Resolve to check all your options before you sign a new electricity contract this year.
Start shopping now for low electricity rates and plans
If you’re moving soon, your current Texas electricity contract will expire soon, or you’re just curious about what’s out there, check out Everything Energy. Our innovative and FREE tools can help you quickly find and compare low electricity rates from providers you can trust.