When electricity prices increase, it is not fun. One time your bill is low and the next month it is too high. Electricity is a commodity with a price tag that fluctuates constantly.
Deregulation in the market will encourage providers to reduce their prices as much as possible because they must fight for their fair share of the market in order to earn a profit, but that doesn’t stop the fluctuation in rates. You can check the rate for all providers one day only to find that they have changed by the next day. This makes getting a fair rate difficult even if you can freeze your rate for the duration of your initial contract.
The electricity market is also prone to unexpected rate hikes if you don’t negotiate a guaranteed rate when you sign up for service. You suddenly receive a notice that you will start paying a higher rate immediately, or you may simply notice the rate change when you start receiving bills that are drastically higher than normal.
Fluctuations and rate hikes make it difficult to budget for your electric bill. You never really know what your bill is going to run until you open it up each month. Even if you’re taking precautions on a daily basis to control your usage of electricity at home, you will find it difficult to budget and pay your bill on time since the rate changes so often.
Rate hikes in the electricity market can occur at any time for a long list of reasons. Anything that affects the cost of producing and delivering electricity to your home can lead to an electricity prices increase. This is a way to pass the increase in expenses on to the consumer.
Rate hikes may also occur when electricity providers must pay for expensive repairs or upgrades at a power plant. When supplies are short or a political situation affects supply, rates are the natural consequence. This list could go on and on, so you see why rates are unexpected and often substantial. You can’t change that fact, so you have to protect yourself by using Luminext residential services.
Luminext can help you eliminate the chaos of unstable electricity rates. There is a simple answer to rate hikes and routine fluctuations: negotiate a stable rate for the duration of your contract. You have to arrange this in the terms of your service contract when you first sign up for service, and you have to renegotiate to ensure you get a stable rate each time your contract comes up for renewal. This means watching the technical terms in your agreement to ensure the rate hasn’t changed or loopholes that benefit your provider aren’t introduced.
Our professionals take care of the contract terms and routine renegotiations to ensure that your rate is always the lowest possible and always consistent. The daily fluctuations in the market won’t affect you, and your contract prevents your provider from suddenly increasing your rate. Even when they have a legitimate reason to consider increasing your rate, they have to abide by the terms of your contractual agreement.