Residential Electricity Rates That
Will Lower Your Bills

Residential Electricity Rates That Will Lower Your Bills

Residential electricity rates used to be something you had very little control over, but things have changed.

You have so many goals to balance as an adult in charge of maintaining your household. You need to control your monthly expenses so that they don’t experience service cutoffs. You are always trying to maximize earnings for your household so that you can enjoy a more comfortable lifestyle and meet your bills without struggle. You also have the responsibility of making sure that everyone within your household receives the food, clothing, medical care and other things that they need. All of this costs money, so you naturally want to reduce your bills as much as possible.

One of your biggest monthly expenses is probably your electricity and/or gas bill. Energy services are critical because they keep your home at a comfortable temperature, allow you to keep your food cold and ensure you have lights, television, internet and other comforts of daily life.

You may think that you are stuck with whatever your electric company charges for the electricity you consume, but that may not be true. If you live in a state where the energy market has been deregulated, then you have the option to choose a different service provider.

Your local utility company will continue to deliver electricity to your home through the wires currently connected to your home, but you can select a different company to generate the electricity that is delivered. Generation of electricity is a major factor that determines how much you pay for electricity. Companies that are able to maintain more efficient power plants can offer consumers like you lower rates, sparking a dynamic competitive market for energy.

You can benefit from that competitive market, but you have to take action on your right to choose your energy provider. If you aren’t sure how to do that, an energy brokerage can serve as your guide and companion throughout the process, helping you decide whether a switch is in your best interest or not.

One Switch, Years of Affordable Prices

The concept of switching to a different energy generation services is sometimes confusing. This is especially true if your state has recently deregulated the industry or you simply haven’t looked into the matter since your state took that action. If this is a completely new concept to you, consider this quick breakdown of how you can save on your monthly electricity bill:

  1. In a regulated market, electric companies have a monopoly on consumers and can charge whatever energy rates they choose. You have no option but to pay those rates or go without service.
  2. Deregulation forces companies to compete for consumers. Not only do they have to compete to secure new customers, but they have to compete to maintain their customer base. You are given the right to compare rates and services from all available companies and choose what works best for your budget.
  3. In order to remain competitive, energy companies start to improve their power plants so that they are as efficient as possible. They no longer have the luxury of raising rates for petty reasons because they need to offer the lowest rates possible to survive.
  4. When consumers like you compare residential electricity rates prices and use energy brokerages to negotiate the best deals, companies fight for their loyalty. This means lower rates on energy generation which can significantly reduce your total electricity bill.
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The Best Residential Electricity Rates for You

In order for this to work on your behalf, you have to go through certain steps to identify all available services and determine their best rates for your home. If you are uncertain how to go through this process, contact us for assistance.

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