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What to Ask about a Company’s Power Prices

November 7, 2013

Switching power companies can be a large hassle and while the process is made simpler by using comparison services, it is still challenging to not get tricked when making your selection. Comparison companies will do all they can to give accurate power prices and this involves showing rates as well as the most common fees. In some cases, however, it may be necessary to ask a few additional questions to ensure that the rates given include everything that will be charged. Here are some things that someone looking to switch power companies should always ask about their prices.

Additional Fees

The most important question to ask is whether or not there will be any additional fees charged. Some companies will attract customers with seemingly low power prices but the fine print will show that these power prices are not set or are only the fixed rates and there can be additional fees. Some companies, for example, will not include the metering costs in their price and instead surprise their customers with an occasional fee. Because of this, it is important to ask the company or investigate their policies concerning this. Otherwise the company that initially seems to save money may end up being even more expensive than its competitors.

Duration of Prices

Another important thing to consider is how long the power prices given will last for. Some companies will offer great deals that actually last for a long time such as a year or more. Others, however, will offer exceptionally low rates that seem too good to be true and are. The fine print will say something like “only for the first three months” and after that period of time is over, the price may skyrocket. Because of this possibility, it is incredibly important to ask the company how long a given rate will last for so there will be no surprises in a few months.

Penalties

One thing that is often overlooked in terms of power prices is additional fees in the form of penalties. The most common penalty is for ending the contract early so it is important to pay attention to this detail. When looking for a power company, it is always best to opt for one that does not have a fee for ending the contract early, doesn’t have a set contract length or has a grace period of several months in which the service can be ended without any additional fees.

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