When you’re in business for yourself, business electricity is just one of the things that make it possible to work. You’ve got to shop for great business electricity rates plus set up internet, phone, computers, and maybe an alarm system, and of course hire and manage employees! We’re here to help you understand how to shop for business electricity rates and get the best plan for your business, whether it’s a small or large business. (The rest of it is up to you!)
early termination fees
Electricity providers in every deregulated market offer multiple types of contracts, from variable monthly plans to long-term plans that can last up to three years. The right length of contract for you can depend on where you live and how long you plan to stay there, as well as the time of year you sign up for your plan.
Your rate plan may have been the right one for you when you signed the contract, but what if something happens and you have to move before the contract ends? Unexpected things come up, and not everyone is able to stay where they live until the end of their electricity contract. What happens if you have to break your electricity contract?
What should you do if you are in a contract and electric rates go down? What if you find another electricity plan from another provider that’s better? What if you are moving? The answers depend on your specific situation. Each electric supplier has a unique policy for early termination fees and each state has their own rules about what your supplier can charge in different situations.
Customers generally love electricity deregulation because it gives them the power to choose their energy provider and the price they pay for electricity. With this freedom of energy choice comes many decisions. One of those decisions is whether or not to enter into a long-term contract with a provider. Retail electricity providers offer customers contract choices that can range from month-to-month (no obligation) to five years (a seriously long-term obligation) and everything in between. Signing a contract with an electricity provider means that you have certain obligations but what are they?
If you’re renting a home or apartment, you want your electricity to be reliable, affordable, and not something you have to think about. But, being a renter in a state that has electric choice, you have to think about your electricity or else your electricity plan could end up costing you big bucks.
The difference between the highest and lowest electricity rate plans can often be hundreds of dollars per month. Electricity providers have a wide variety of plans for you to choose from, and the choices get even more complicated when you have to consider the length of your lease.
How do you select the right electricity plan if you’re in a temporary living situation and you need to be flexible? Actually, renters have the same rights and the same choices as anyone when it comes to electricity plans. It’s not as complicated as you might expect.