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About Residencial Electricity Rates
About Residencial Electricity Rates
When it comes to shopping for a new Electricity company we are always looking for the lowest Electricity Rates in the market, but when we do find one; Are we sure that this is the real energy rate? Is it going to go up after a certain amount of time? Is this the best electricity deal out there?
Usually, we don’t get the right answers to this question, we don’t know how to ask, and we get to the truth until we get our first bill.
How well do you know what you are paying for when it comes to shopping for Electricity Rates?
When we call an Electricity company is either because a friend or family member told us about them and how low their electricity bills came out to be. Or someone that we meet at the store, hospital, or even kids’ school recommended it. Making their company look like the best in the market.
First, not everybody uses electricity the same way therefore not everybody pays the same amount for electricity. No matter how low the company sells you the KWH.
Second, not everyone qualifies for the same price.
Third, promotion sales might be different and always changing.
Now with that said, many companies, at the sale point offer you a dream kWh electricity rate; for example, $0.03 or 3¢ as the energy charge and they just leave it at that. With that kind of electricity price who wouldn’t go with them right? I know I would.
However, what they don’t tell you is that there are TDSP charges and a monthly base fee. Others tell you both the KWH and TDSP charge together at, let’s say $0.08 or 8¢ kWh, but don’t tell you that this price can vary after a certain amount of time like after 3 months and that after that your kWh will go up sometimes triple the price you were sold on. Instead, you come to find this out when the bills come up higher than usual.
How to know the exact amount of the KWH rate you are going to pay?
All companies have these documents called EFL Or Electricity Facts Label that give you the energy charge, base charge, and TDSP charges letting you know the exact KWH rate you are purchasing. However, as humans, we tend to not pay attention to these documents because they look too complicated to read.
Well did you know that the EFL is super easy to read and understand? Yup, that’s right. Also, it contains all the information you need to know before you purchase the electricity rate that you were offered in the first place.
So next time we go shopping for electricity rates just keep this in mind to help you really get the best price in the market that fits your needs and budget.
Remember Electricity Express is here to help you get what you need when it comes to Electricity.
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