Approximately 30% of the electricity produced in the United States each year is consumed by businesses. Monthly electricity bills are typically the biggest expense business owners have to contend with. If you are tired of paying outrageous prices for the energy your company uses each month, it is time to make a change.
If your business is located in Texas, taking advantage of the deregulated energy industry in this state is crucial. Since this deregulation, business owners have a wide array of companies they can use for their energy needs. If you are looking for commercial energy plans for your business, consider the following tips.
Gather Information on Your Energy Usage
Before you start looking for an energy plan or provider in your area, take the time to gather some important information. One of the main things you need to know before looking at energy plans at your disposal is how much electricity your company uses on a monthly basis.
With this information, you can figure out how much you can save with a particular energy company. An energy provider will provide you with a breakdown of what they charge per kilowatt-hour. Once you have this information, you can decide whether or not a particular provider can give you the deal you are looking for. While finding the right energy provider/plan will take lots of time and effort, it is worth it considering the money the right plan will save your business.
The Plan Type and Length
Once you narrow down the list of energy providers in your area to just a few, you need to dig deeper to figure out which one is the right fit. As you look at the details of the plans being offered, be sure to focus on the length of the term and the type of plan. Generally, the longer your contract with an energy company is, the more money you can ultimately save.
You also need to decide whether you want to go with a fixed-rate or variable-rate plan. With a fixed-rate plan, you can figure out exactly what you will pay for energy each month. Taking advantage of one of these fixed-rate plans will require you to sign a contract for up to 24 months. If you want to avoid this term length, then a variable-rate plan is a good option.
However, you may experience rate hikes with this type of plan. The price of energy on a variable-rate plan is determined by things like demand, the price of fuel and bad weather events.
Does the Energy Provider Have a Good Reputation?
Being without power for days on end can lead to a business losing a lot of money. Before selecting an energy provider to sign a contract with, be sure to assess their reputation. Ideally, you want to choose a company that is known for providing great customer service. A reputable energy provider will work hard to fix any power issues your company is dealing with.
In most cases, you can find all of the information you need to vet a particular energy provider online. Talking with other business owners you know is also a great way to get a feel for how happy they are with their current energy provider.
Finding the Right Energy Provider Takes Time
Trying to rush through the energy provider selection process is a recipe for disaster. By taking your time and weighing all options, you will be able to find a great deal on energy. The longer you wait to take action and find the right energy provider, the more money you will inevitably use. This is why you should view this as an urgent matter.