Are you in the right energy plan? If you are struggling to pay your monthly energy bills, or if you feel like you are paying excessively for low levels of usage, then you might not be on the right energy plan at all. Here are several ways to examine your current energy plan to make sure you are not overpaying for power:
Know What Other Options are Available
If our house or apartment has been on a single energy plan for a while now, you may not be aware of all the best rates available. You can know for sure by comparing energy plans for your area using an online site like Econnex. This service provides realistic rates in dollar amounts without showing unnecessary discounts so you can get an idea of what other plans really cost per month and per annum. Compare available energy plans and then compare the best ones out of these to your current plan. Is there a significant different between the rates? If so, you might want to consider switching.
Understand Your Current and Future Energy Usage Levels
Before you jump to make the switch to a new plan for a lower rate, stay still and consider your energy usage. What you should ultimate consider is whether a new plan might allow you to pay less for similar amounts of usage as the current plan? You should look at your old energy bills to see how much energy your household consumes. Take the average daily rate to realistically understand power consumption levels. In the meantime, think about your future needs as well. Would your usage increase or decrease in the future. For example, if you are adding a new room or a home theatre to your residence, then you can assume that power consumption would go up. If you plan to spend months away from home yearly, then the consumption would decrease. Consider such future usage changes when buying a new plan as well.
Are You Accruing Late Fees?
Are you actually in debt because of your energy plan? If so, you might want to first sort out the payment problems. Think about why you may be acquiring late fees. Is it inconvenient to pay the bill on time? Is the bill to expensive to pay on time? If so, you might want to switch to a plan that costs less or is much more convenient to pay on time. Some plans offer pay on time discounts, which can motivate you to pay your bills on time. There are also plans without late fees that you might be able to benefit from. Additionally, you might want to consider toning down power consumption if the energy bills are becoming too expensive.
Does Your Current Plan Charge You for Leaving?
If your current plan has exit fees, which are charges you have to pay when you want to discontinue to plan, then you might not be able to make the switch as easily as you want. Try to find ways to get around exit fees if you can. Also, if you can discontinue to plan now without getting charged for it, do so now, because you might have to pay hefty exit fees in the future if you plan to move or sell the house.
Consider all of the above and decide for yourself if your current energy plan is right for your budget and requirements.