Energy deregulation enabled savvy consumers to choose electric and gas suppliers and save money on their electric bill. The process is straightforward: the incumbent utility is still responsible for delivering energy to customers, while supply is outsourced to third party or alternative energy service company (ESCO). End-customers are free to choose their electricity and gas supply by comparing offered prices by various ESCOs, finding the cheapest energy rate and making a seamless switch. The whole process should be simple and not take more than 5 minutes if done through a reputable supplier.
How does one find a reputable supplier you might ask? That could be a long and tedious process, and should not be undertaken lightly. For one, there are known instances of fraudulent activity by some market participants where they offer low introductory rate for the first month, and then increase it substantially after the initial period lapses. To complicate things further, some suppliers might switch you from lower rate plan to the higher variable rate once your original subscription expires. To minimize the potential problems down the road, customers should either do in-depth research on the supplier they are about to choose or partner with a company like PowerSetter, that performs all the leg work for them. Not only we evaluate each supplier on our platform through rigorous multi-stage selection process, we also make sure there are no hidden fees or surcharges during customer signup. Furthermore, we are often able to negotiate exclusive deals to offer cheap energy rates to our clients.
Finally, many alternative suppliers have term and renewable plans – something their incumbent utilities do not offer. Not only these plans help smooth out energy rate fluctuations, they help save the environment and money at the same time! Some of the green choices offered through our platform are in fact the cheapest because of our diligent research and ability to convince suppliers to offer low-price deals. Since we do take money saving issues seriously we also send reminders to our clients when their existing plans are about to expire helping them re-evaluate available rate options, and not get overcharged by their existing ESCOs. Per New York Public Service Commission, for instance, substantially increasing rates after plan expiry is one of the biggest issues causing many residents to overpay on their electricity or gas bills. We, at PowerSetter, believe we found a way to address it and help our customers!
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