No. When you’ve chosen a new deal, your new supplier will handle the switching process. They’ll contact you to let you know what date you’ll be transferred over, and they’ll contact you around the switching date to ask for a meter reading. They’ll pass this on to your old supplier so they can send you a final bill. You don’t need to contact your old supplier, as the new supplier will handle everything for you.
Power generation projects, which have to sell their power to these bankrupt utilities, require creative financing structures to get around these problems. In a bid to reduce their risk when financing these projects, bankers employ financial tools like put call options agreement or World Bank partial risk guarantees. The problem is these tools add complexity and cost which end up being passed on to the end-user or worsen the financial state of the power utility.
No deposit electricity plans also offer a subjective advantages. Thanks to smart meters, electricity providers can offer you smartphone apps that send notifications when your balance is getting low, so you can purchase more kilowatt-hours before your account drops to zero. However, this also means you will track your energy consumption more frequently, as opposed to only once per billing period. Energy consumers who monitor their kilowatt-hour usage tend to consume less energy that those who only wait for power bills once per billing period.
The more cool air you lose, the harder your air conditioning unit works and the higher your electricity bill will be. Install blinds, hang curtains or get storm windows made to keep cool air from seeping out. Even mesh screens, on the outside of your home, will help deflect solar radiation. You might even consider replacing old windows that leak cold air and let in heat.
The freedom to choose your energy rates in Maryland is not only available in homes but also to commercial customers. In fact, more than 90% of large businesses in the state have enrolled with alternative suppliers. This competition between energy suppliers to provide lower prices for businesses could be why commercial electric prices in Maryland are lower than the national average this year. If the same competition between suppliers existed for residential customers, prices might also decrease. However, without participation in energy choice, suppliers are not forced to compete for your business. Want to see the available rates? Enter your ZIP code above.
You may have noticed a lot of electric companies offering a ton of plans and services. But not all light companies in Texas are created equal. So which one is right for you? At Amigo Energy, we want you to trust that you’re getting a custom energy plan at a good price—not just a quick fix that’ll cost you more down the road. In fact, JD Power gave us four out of five stars for pricing, beating out a ton of other large retail electricity providers.4
You can organize and shop by pricing at YOUR individual usage level, which allows you to shop and compare energy plans based on the rates you’ll actually see appear on your bill, inclusive of taxes and hidden fees. You won’t be misled by the “teaser rates” tied with higher usage levels that many homes never experience, as their usage level never reaches that pricing tier.