Most people are very complacent when it comes to their electric company – we often use the same one by default – it was the same company your parents used, your partner already used them when you moved in together or you had to pay a less expensive connection fee when you rented a place because the previous tenant used them.
But the big problem with this is that you could be paying significantly more for your electricity costs, especially in the winter months if you use electric heat.
First, find out if there is another electric company option in your area. Poll your friends and family and ask what company they use and why.
Next, find out the options in your area. WhiteFences.com has a tool that shows the different company and what the price per kWh is in your area… that is price per kilowatt. If you have your last electric bill, you can use it to calculate the actual price your bill would be by various companies.
Phone your options. Many will waive connection fees if you ask, because they want you as a customer. If you don’t ask, they won’t offer, so always ask what the best deal they could do for you is.
Once a year, it is good to double check the prices to see what has fluctuated in your area. All kinds of events can cause changes in your rate, so what is cheapest now might not be 2 years from now.