The Institute for Private Finances has summarized a number of practical considerations that should be addressed before making the final choice. With the best Energy Rates you can now choose for the best.
It is necessary to analyze the current and projected energy consumption, as suppliers’ offers differ in terms of consumption. Keep in mind that monthly summer consumption can be very different from winter.
Several services one account
Regardless of the selected supplier, the owner of networks will continue to distribute electricity on the basis of relevant partnership agreements. Households will receive only one invoice each month, including a fee for all components of the electricity tariff.
What about the termination of the contract? Although theoretically, it is possible to change the supplier at least every month, the contract may provide for a penalty for its early termination. In some cases, the amount of the fine may exceed 100 dollars, so carefully read the terms of the contract.
What is included in the tariff? When comparing suppliers’ offers, consider all costs not only the cost of a kilowatt-hour of electricity but also the possible monthly subscription fee, payment for sending an invoice, possible fines, penalties and other payments.
Maybe take a kit? Evaluate the appropriateness and benefits of acquiring electricity in conjunction with other services television, Internet, telephone.
Two-time rates? If you clearly know that most of the electricity will be consumed on weekdays at night from 23:00 to 7:00 and on weekends, it makes sense to evaluate the possibility of installing a meter for free with two time zones. In this case, the electricity tariff will be separate day higher, lower at night and weekend. For example, if 400kWh of electricity is consumed per month with an input current limiter of 16A, separate metering of time zones becomes beneficial only when at least a third is consumed at night and on weekends. You can check the potential benefits of accounting with two time zones using the link on the website.
To receive services from a selected electricity supplier, an agreement with the relevant company must be concluded no later than December 2019. If this is not done, the company will continue to supply electricity under the terms of the “Universal Service”.
What about the benefits?
In order to receive state support provided for needy and low-income residents, in 2020 it is necessary to remain a client. Support in the form of a preferential price of 0.1164 dollars per kilowatt-hour is provided for electricity consumption of up to 100kWh per month. Consumption over 100kWh per month is paid on the terms of the selected market offer. The status of a needy or low-income resident family is assigned by the social service of the corresponding self-government.
Support for large families.
In order to receive state support provided for large families, the household must remain a client. Support in the form of a preferential price of 0.1164 dollars per kilowatt-hour is provided for electricity consumption up to 300kWh per month. Consumption over 300kWh per month is paid on the terms of the selected market offer. In this case, the household independently contacts and confirms the status of a large family.
Who has already announced prices?
Although it was reported that residents would be able to choose from six different enterprises, so far, only three have announced prices. For households that are not considering the possibility of receiving electricity together with other services from TV, it remains only to choose between two suppliers.