If your energy bills have gotten out of control, it might be time to switch to a new provider. Many areas have deregulated energy markets, where you can choose your power supplier and set the rate you pay for electricity.
Look for a plan that offers lower rates during off-peak hours. Also, consider replacing older appliances and lighting fixtures with energy-efficient models.
Switching to a Variable-Rate Plan
If you’re a power shopper who keeps up with energy markets, then a variable rate plan may be your best choice. These plans allow customers to change providers without paying hefty cancellation fees. This is important since lifestyle changes and household habits can alter your electricity usage, including when you run your dishwasher and television. For example, if you’ve recently changed to a weekday job and now need to run your washer during off-peak hours, then a time-of-use electricity plan could help you save money by shifting your energy usage to less expensive times.
With a variable-rate plan, the price per kilowatt hour changes according to market conditions. During periods of high demand, rates go up, while when prices drop, your rate will do the same. Some plans even offer discounted or free weekend energy to encourage energy consumption during off-peak times.
If you want to learn more about variable-rate plans, you can start by searching for energy suppliers in your area. Choose a power provider in Killeen, TX that matches your goals and compare their quotes until you find the right one. You can also see if any of them offer renewable energy plans that are more environmentally friendly than others.
Switching to a Fixed-Rate Plan
Several ways to reduce your energy costs include switching to a fixed-rate plan from your electricity supplier. This will help shield you from price fluctuations in the energy markets and allow you to budget for your energy costs year-round. Many power providers offer fixed-rate plans that run 12 to 48 months.
Your utility provider may also offer budget billing, which can take the guesswork out of your monthly bills by averaging your yearly electricity spending into equal payments. It’s important to talk to your provider about the different options available in your area.
Another way to save money on your energy bill is by reducing your usage. A few easy things to do include insulating your home, using LED lights, and scheduling your heating and cooling use according to peak times. Additionally, you can take advantage of time-based rates, which reward you for using your appliances during off-peak hours (e.g., on weekdays after 8 p.m.).
Lastly, consider choosing an electricity supplier with green energy plans to reduce your carbon footprint. These plans are becoming more widely available in deregulated markets, allowing you to choose clean energy sources such as wind, solar, and nuclear power.
Switching to a Prepaid Energy Plan
While traditional post-pay plans require contracts and deposit requirements that can be cost-prohibitive for people with poor credit scores, prepaid energy options are more flexible. They typically don’t include early termination fees, and the ability to switch to another plan without incurring charges makes them a good option for people who move frequently.
Prepaid energy plans allow you to buy electricity in advance, and your balance decreases as you use power. When your balance gets low, you can top it up through local payment centers, online portals or mobile apps. Some providers even send you text messages when your balance is running low. This allows you to manage your energy expenses more effectively and provides an incentive to conserve because you’ll know that your service will be cut off if you consume more than you budgeted for.
With prepaid energy, you’ll receive your power bill after each cycle instead of at the end. This can help you identify your usage patterns and understand how much power you need daily. Prepaid energy also allows you to purchase power in small increments, which is ideal if you live alone or only have limited electricity needs. It’s important to note that some prepaid energy plans don’t carry over unused electricity monthly, so purchasing only what you need each month is best.
Switching to a Green Energy Plan
You can choose a green power plan to reduce your carbon footprint and support renewable energy. Most utilities offer this option, and it’s a simple switch that requires no extra equipment. All you have to do is sign up and link your utility account with a green energy provider. These providers typically buy renewable energy certificates (RECs) for each megawatt hour of clean electricity they put into the grid. These RECs signal ownership of the energy. A third-party provider then sells the RECs to your utility company or another energy supplier.
Many green energy plans are powered by solar or wind, producing zero greenhouse gases when turned into electricity. Since these energy sources are renewable, they can be used repeatedly without depleting limited natural resources or contributing to climate change. Relying more on these sources will help you save money while reducing the need for fossil fuels.
A recent study from Rewiring America found that households would save as much as $321 billion in energy costs and slash planet-heating emissions by transitioning to 100% renewable power. While the upfront cost of buying solar panels and electric vehicles might be high, these expenses will pay off with long-term savings on your electricity bill. You can cut your energy bills by reducing your demand through efficient appliances, installing solar, and using time-of-use rates.