What do I need to consider before switching electric companies?

[mom2boys]

Of course, the promo material makes switching look like a no-brainer. The promo material only indicates cost per kilowatt hour. What other expenses should I expect?

 

[low-key]

you often have to pay a fee for using the main electric company lines, the price will still more often be cheaper but not as good saving as you thought

 

[tvguy]

Wow, I've never heard of an area where there is more than one electric company. I don't want to know how they keep one company's electricity seperate from the other company's.

 

[Albort]

Wow, I've never heard of an area where there is more than one electric company. I don't want to know how they keep one company's electricity seperate from the other company's.

same, only one company here... good thing is that it requires government approval to raise rates... but stuff government with money... umm...

 

[sam_gordon]

Is there a "hook up" fee from the new company? A "disconnect" fee from the old? Are the new rates a promo (good for six months or a year, then go up)?

 

[msmayor]

One of the things that keeps me from going to a different electric or gas provider is the loss of the budget plan.

I LOVE paying a steady amount every month for my utilities. I don't mind that sometimes the utility owes me money at the end of the year or I owe them a little extra. The ability to know ahead of time what my monthly cost is makes budgeting easier.

In my area, if you switch to another supplier you no longer can be on the budget plan and have to pay actual costs every month.

 

[The Mystery Machine]

Anything "promo" always scares me too. Bottom line is how long is the "promo" and what are the "reg" rates.

Can the promo rates be cancelled at anytime (by them not you)?

What if you decide you want to change back, what are the "fees", because there will be a "disconnect fee" and who knows what else? And then what are the fees for hookup back at your old electric company?

Do they "rent" the "lines" as PP suggested? What if "rent" is raised do they pass that onto you and can raise the rates even with the promo?

All that ugly fine print they don't want you to read....like side effects from drugs.

 

[Dan Murphy]

Here in Chicago area, there is only one deliverer of power, Comm Ed. However, there are many suppliers of the electricity itself. And many of the suburbs, mine included, have worked to get consolidated electricity supply alternatives on a village/town-wide basis. The process typically is started with a voted referendum to seek a change. I think all have passed, I know our town passed its referendum. The village then goes out to the market to get the best deal they can for the people of the town. Once selected, it then becomes an opt out procedure. If you do not opt out, the new supplier will automatically become your new supplier of power in several months. We voted back in Feb, our new supplier starts next month. The power cost will be about 40% less. The delivery charge will stay the same since it is still Comm Ed. The bill will continue to come from Comm Ed, any service calls will still be Comm Ed.

I would say most of the towns/villages around here have done similar.