Deregulation has completely changed the way people in Maine, New Hampshire, and Massachusetts get electricity. You no longer have to settle for a sole provider that was selected by the local government. In deregulated energy markets, consumers are the ones that get to do the choosing.
That means consumers have a decision to make. It’s a decision that can have a long-term impact on your monthly budget, and the right answer isn’t always clear. What are electricity consumers to do?
As with so many other purchase decisions today, consumers that comparison shop online is the ones that find the best deals.
The Electricity Comparison Shopping Challenge
The one problem when you’re shopping for electricity plans is the prices can fluctuate. Electricity isn’t like many other consumer goods that have a set value for the foreseeable future. The rates for electricity can change day-by-day. There’s a good chance the rates will be higher or lower than what you saw just a week ago.
The changing prices mean you can do research in advance, but you’ll have to save the serious comparison shopping until you are ready to sign up for a new service.
The Best Time to Compare Electricity Plans Online
When you sign up for an electric service it’s not a one-time expense. It affects your finances month after month.
The absolute best time to compare offers and sign up for a new electricity plan depends on where you live. That’s because consumer demand has a big influence on what’s offered. Ideally, you want to compare electricity plans when demand is low because this is when wholesale electricity prices are at their lowest.
Wholesale electricity prices are driven by use. In the northeast, winter is the peak electricity season, and in the summer demand skyrockets in the south. According to the Energy Information Administration’s data, our customers in Massachusetts, New Hampshire, and Maine should find the lowest rates between May and October.
Because electricity rates and plans are so regional, researching your area’s weather trends to find the most temperate months is a good idea. You can also use your billing records over the last year or two to determine when demand is the lowest in your city.
Keep in mind there are a few factors that could complicate matters when you’re trying to find a better electricity plan. One of the most common issues is being under contract. If you signed up for a fixed-rate plan you may be under contract with your current provider. You might have to pay a fee for breaking the contract to switch providers.
Of course, not everything can be perfectly timed in life. If you find yourself in need of a new electricity plan during the peak seasons see what Provider Power has to offer. We have fixed-rate electricity plans, and you can lock in your rate for up to 24 months.
Get seasonal price protection that can make chilly winters and hot summers easier to handle!