Choosing the right energy plan is easier than you might think. Once you understand the basics, you can make a well-informed decision about which gas or electricity plan to pick. Selecting your energy plan provides the ability to compare two or more energy companies and take advantage of fixed or variable rates, customer benefits, and unrivaled customer service.
Are you interested in a gas plan and a true apples-to-apples gas Ohio comparison? Keep reading for tips on how to find the right energy plan in your area.
Know Your Energy Use
When choosing a gas plan, the first thing you need to do is understand your energy usage. One of the simplest ways to work out how much gas energy you consume is to check your bills. If you have a consistent energy consumption level each month, you can create a rough picture of how much energy you need a month.
Your bill may fluctuate based on who supplies your electricity and gas. Information like this can make things complicated in terms of calculating energy use, but it isn’t impossible.
There are a few things that all energy bills have:
- Energy used: The amount tells you how much energy you used in one month, but it is calculated in dollars, not energy units.
- Billing period: The interval over which you are being charged tells you how much you are paying for the energy you use in one month or year.
- Usage: The most significant figure when it comes to calculating how much energy you use in kWh. It is stated in kilowatt-hours and shows you how much you are paying per kWh for a clear comparison.
Another way to determine your energy use is to go directly to your electricity or gas meter and take direct readings for the record.
Know The Difference between Fixed and Variable Rates
A fixed rate means that your energy price for gas will not change for the duration of the energy plan. A variable rate means the opposite, with prices potentially fluctuating each month.
Each option has its merits. If you are on a fixed energy tariff and your gas or electricity provider announces a rise, your rates will not change.
Fixed rates provide security and are some of the cost-effective options. Although you will be stuck for a year, you know how much you will pay each month. If you want to break the deal, you will need to pay additional fees.
Variable rates are more flexible, and you can usually get out of your contract without paying extra fees.
The most obvious benefit of a fixed rate deal is knowing how much you will pay each month. You can budget your monthly costs and plan your finances. Most energy suppliers offer a fixed tariff, so the market is competitive.
When comparing apples-to-apples, gas Ohio companies let you should choose between the cheapest monthly cost, the longest fixed contract, or a provider that allows you to exit the fixed deal without a fee. The biggest drawback is that if the price for gas drops, you could get stuck paying the higher rate.
When choosing between fixed and variable rates, consider your monthly income, your current financial situation, and how often you will have the time to compare the gas market for cheaper deals.
Shopping for the right energy plan shouldn’t be complicated. Some plans have hidden fees, others wrongly advertise monthly savings, and some plans are just misleading. You’ve probably tried a few websites looking for comprehensive information on which provider will save you the most money on your energy bill.
For example, Texas has been deregulated since 2002, meaning you can choose your electricity provider. More than forty retail electricity providers in the state offer fixed, variable, and other plans.
With deregulation, you can select free electricity at specific times, fixed tariff plans, prepaid energy, 100% renewable energy, and more. Whether you are running a business or looking for a new energy provider for your home, getting the right plan can make a vast difference in your monthly bills.
Deregulation gives residents the power to choose their providers and while having the ability to choose is a good thing it can seem like a daunting task initially. Make it easier on yourself and check out comparison websites that do the research and hard work for you by comparing rates, plans and prices. Making sure you have the best rate is only one click away.