Review the bill from your current provider. There you will see your current usage. If you live in a variable climate review several months of your usage to get an average. The bill should also show you a price to compare to; this will give you a starting point to compare prices. Are you currently getting the best rate? How do you know without comparing? Many providers have several plans available. Some are a fixed rate; others are a variable rate. It is important to review the contract to know what will happen to your rate when the contract ends. Will it automatically renew and at what rate? Is it necessary for you to take action at renewal? Are there benefits to choosing the plan like award points or a discounted rate? Is there a penalty if you leave the plan before its expiration? Is there a guarantee of rate savings? Some states now require that consumers choose their energy provider. In fact some providers will now charge you extra in the form of fees or charges if you do not choose an alternative provider. Look for the terms "Merchant Function Charge" or "ESRM" on your bill. Those fees could be adding several dollars to your monthly energy costs.
Just like the telecommunication and airline industries before it, energy deregulation is intended to provide more competition
and therefore more competitive prices to energy consumers. As a consumer you are given the choice of suppliers for your energy needs. This means that you are able to switch to a provider that gives you a lower price or preferable source such as green or renewable energy. it separates your bill into different sections, possibly giving you multiple providers, one for the energy itself and another for the actual delivery to your home or business. However, you will still call your current provider for service or outages and will probably continue to receive only one bill from them for all your energy charges. Just like telephone charges, competition is helping to drive down the costs of energy. Energy suppliers are able to give you lower prices because they buy the energy in volume as a wholesale commodity based on the number of contracts that they have and expect to have with their customers. When you purchase for the first time or renew your account the energy supplier knows that they need to have the energy available for you, the customer.
As part of the energy deregulation law, the government requires that you have the option to opt out of a contract at the end of the renewal. As a result companies require that you be proactive to renew your account. When you don’t take action to renew, the energy supplier will renew the contract but no longer applies the favorable rate because they are using it for their other contracted customers. As a result the rate that you then pay is the current cost of energy on a month-to-month basis which could be significantly higher than what you were paying on their contract.
The same can be true when there is a peak in energy need, such as an unexpected cold winter or an unexpected hot summer. If the energy needs exceeds the suppliers’ availability of energy then they are forced to buy additional energy on the commodity market, again raising the costs, making it important that you choose the right supplier.
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*ENERGY DEREGULATION STATES CURRENTLY INCLUDE: CALIFORNIA, CONNECTICUT, DELAWARE, ILLINOIS, INDIANA, MAINE, MASSACHUSETTS, MARYLAND, NEW HAMPSHIRE, NEW JERSEY, NEW YORK, OHIO, PENNSYLVANIA RHODE ISLAND, TEXAS, VIRGINIA, AND WASHINGTON, DC. However city-owned electric companies and natural gas cooperatives have been given the option to keep things the way they are so they may not give their customers a choice of service providers.
A fixed rate plan is one that will stay the same rate for the term of the contract, usually at least three months. The advantages are that you know the price you will pay for the term of the contract. However, if the rates go down during the term, you may end up paying more than the going rate. Long term fixed rate contracts may have a penalty fee if you end the contract before its expiration. Also check to see what happens at the end of the contract. Unless you renew your rate the contract might revert to a monthly variable rate contract at a higher rate than you were paying.
A variable rate plan on the other hand will fluctuate with the market, as frequently as outlined in the contract. With this contract you will receive a higher rate if the rates go up, but a lower rate if the rates go down. If you follow the energy market prices, you can adjust your usage accordingly to adjust for changes in the rates. Variable rate contracts normally don't have a penalty charge for early cancellation.
How many people do you know that use gas and electric? Do you think they would like to pay less or even get it for free? Would you be interested in earning residual income and potentially thousands of dollars in bonuses from referring people to this program? Almost everyone today uses electricity and/or natural gas on a daily basis. Independent consultants for Ambit Energy earn residual income from referring family, friends and new customers to Ambit Energy. There is no inventory to store in your garage and a minimal investment to start with no renewal costs, just a monthly fee for the software program. You can work out of your home in your PJs, giving you the freedom to stay at home with the children or elderly family member. A couple hours a day, spare time or full time - Ambit consultants are able to make their own schedule and money to supplement their income or support their family. How much time you put into it will directly reflect how much you get out of it. It does require work but is a rewarding opportunity if you enjoy helping others. Interested? Click here to learn more.
The short answer is NO. Your energy will continue to be delivered safely and reliably by your local energy company and they in turn will continue to be regulated by the utility commission or agency of your state. Because your local energy company is still responsible for maintenance and repairs, you will continue to call their service department in an emergency or if there is an outage. All deregulation does is it allows independent companies like Ambit Energy to buy energy wholesale from competitive providers and pass the savings along to the consumers. And in many markets Ambit Energy guarantees savings over the incumbent provider. Either you'll save with Ambit, or they'll mail you a check. Click here to see your potential savings with Ambit Energy.
The Mecca Agency, LLC represents Ambit Energy because we feel strongly that your energy provider should be a business that provides exception value and great customer service. Ambit Energy holds an A+ rating from the Better Business Bureau and have been recognized by J.D. Power and Associates for their customer service.
In addition New York State has recognized Ambit as the only ESCO (Energy Supply Company) that provides a true savings to their customers. As a result Ambit is the only energy supply company that is approved by New York State to service low-income energy customers.
The MyAmbit Account website gives you access to your account. Depending on your service territory, you can pay bills, check usage, update or change your account from any web based device. But if you prefer the human touch, Ambit Energy Customer Service is just a phone call away. And how many energy companies offer you the opportunity to earn free energy? Ambit Energy's reward program offers you the opportunity to earn free energy just for referring and enrolling 15 family, friends or neighbors. Click here to learn more.