What to Consider in Selecting the Best Electricity Provider for Your Family?

March 26, 2020
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Craig Fischer
Posted in Business
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With competitive electricity now emerging almost everywhere, most customers are gaining an upper hand of knowing which power provider is best for them and which one they should ignore. While the government has been delivering quality electricity supply, new suppliers are emerging in the open electricity market deliver equally quality electricity and looking for ways to offer the best services to customers. As a customer, before choosing the best electricity supplier to serve you, there are main points you must know.

Fixed price can give certainty to your bills

With your current electricity supplier, if you feel you are paying more bills than you should, then you need to reconsider your decision. Part of this reason is because you are paying for electricity which goes by how much you use. If your usage fluctuates month on month without you realizing, you might end up with a huge bill before you know it.

If you choose to go with an electricity supplier offering fixed prices, you will be sure that the rates to pay are set for the specified period. You can stop worrying if your bill will fluctuate and worry about other important matters instead.

Customer service

At times, if you have gone with the national provider for a long time, you will realise that many times that in this large organization, there are many layers you have to go through if you have an enquiry, or an issue with your electricity supply.

With alternative electricity providers, there is chance for better customer service, as these independent providers will usually seek to do their best to retain customers. Hence, rather than waiting for 3 working days for your enquiry to get replied, it could come within hours, if you go with another provider.

Package deal

Besides better service, another possible benefit is that with a new provider, they will offer everything you need in a bundle, and will not have extra installation costs or extra equipment you will need to buy. Customer-oriented packages will be the new norm as new providers enter the market, and you need not worry about having to worry about what other items you need to get.

Contract simplicity

With a national provider, sometimes matters such as contracts renewals, usage transparency, or ease of switching out to other providers could be difficult, if multiple contracts underlie your electricity supply.

With independent providers, contracts will be tailor-made and consumer-focused, and you will likely just need to sign one big contract with all the clauses included at one go.

Reliability of electrical supply

However, the most important point you should consider, should be the reliability of the electricity supply itself. In fact, you should determine your search by this factor, rather than factors such as price or promotional offers thrown in with your contract. The reliability level of the electrical supply will affect your well-being, and if you are stuck with a house with an unreliably supply, you cannot move out in the short run.

Also, if clauses in the contract are binding, you might not be able to switch providers in the short run if you decide to. The amount of money you will spend repairing your supply will cost more than if you had just gone with a quality provider in the first place.

Stability of provider

What do we mean by the stability of the provider? In this case, it refers to how well the company looks to do in the future. While this is anyone’s guess, you can look for signs such as its business model and its online reputation. Over time, their reputations will begin to form, and you will be able to more easily tell which provider is reliable and which is not.

Other signs include having passed the local regulatory bodies. Such companies are trustworthy since they have an explicit license, which gives them a chance to enter into the contracts together with those customers who are looking for providers.

Conclusion

With a more competitive landscape for electricity supply providers, you need to be clear at identifying the above factors discussed. This will help you in deciding the best provider. Also, consider the long-term issues before signing any contracts with a new provider. That will prevent yourself getting stuck in a situation you cannot resolve, and electricity is something we all cannot live without.