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Making the Best Electric Rate Comparison

November 19, 2013

If you’re like most consumers you want to save money any way possible. One of the ways you can save money on your monthly utilities is to compare rates. You can make the best electric rate comparison by reviewing rates and services of various electric providers in your area. Electric companies charge rates based on usage, which is measured in kilowatts per hour. Review your current electric bill to find out what rate you’re paying as well as how much electricity you use on a monthly basis. Then you can begin an electric rate comparison. There are two main types of contracts available including fixed and variable rates. Fixed pricing offers rates that will stay the same for the duration of your contract. Variable pricing can change throughout the contract based on current prices. Variable rate contracts are rather risky because if the rates go up you could end up with a higher electric bill than you currently have. When doing an electric rate comparison you’ll want to pay attention to the length of the contract. Many times a company will offer lower rates if you sign up for a longer contract. Contract terms generally range from 3 months to 2 years. There could be penalties for terminating a contract early so before you sign up for a lengthy term you need to be sure about your decision. If you aren’t sure about when your current contract ends you can check with your provider. Bundle packages are another option that many providers offer to customers. Different packages can include different things so you’ll need to look at the details to see what they include. When looking at rates keep in mind that there can be some hidden costs that may make your bill larger each month. Sometimes a company will offer very low kilowatt per hour rates but then tack on a variety of monthly charges. These may include such things as meter fees, service fees, and provisioning charges. Additionally, you may end up paying extra for things such as getting a paper statement or making a payment by telephone. In some cases, these extra charges can make your bill larger than you expected. If your current rates seem higher than you expected when you compare them with other providers it may be worthwhile to talk to your electric company to see if there is anything they can do to lower the prices. Select the Best Electric Rate Comparison website to Compare electric providers.

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