In the late 1990s, energy deregulation allowed the residents of New Jersey to have more choice for their gas and electricity suppliers. It introduced competition to the energy market so customers could compare prices and find better deals. When you choose to switch your energy provider, there are some things your utility will still manage. They are in charge of delivering the energy you use, as well as some things like metering and billing. However, you can choose to buy your electricity or gas from another company, with a range of products and contracts available. If you would like to switch your electricity provider, follow the steps below.
When to Switch
Before you switch NJ electric providers, you have to decide whether it's right for you. Everyone should consider shopping around for electricity suppliers, but some people will benefit from it more than others. As a general rule, households or businesses that have high energy costs or usage will benefit most from comparing the third-party providers available. As well as residential customers, commercial or industrial energy users could save money by looking at third-party suppliers. If they stick with their utility, they could end up paying over the odds if they have high energy usage.
Look at Your Current Supplier
If you have decided to shop around for a good electricity provider, you should start by looking at your current one. If you haven't switched before, you are probably still using your local utility. For some people, this might be the best choice. However, many others will benefit by switching their supplier. Before you do so, you can get a Price to Compare figure from your utility. This is the amount you pay for energy services from your utility that you can compare with other suppliers. Make sure you understand your current bill so that you can ensure you get the best deal when you switch.
Compare Third-party Suppliers
Once you understand how much you currently pay for electricity, you can compare NJ electricity rates from other suppliers. It's easy to do this online using an energy price comparison website. This makes it much easier than visiting individual websites to try and track down prices. You can look at the important figures and different products available. As well as looking at providers, you need to decide what sort of contract you're looking for too.
What You Need to Know
There are some important questions you need to ask before you settle on a new electricity provider. The first thing you need to know about is what contracts and products are available from the supplier. Do you want a fixed-rate or variable-rate contract? It's also possible to get a hybrid contract that combines the two. Perhaps you're looking for a renewable energy product to help you create a greener lifestyle. You also need to know about any fees you might have to pay if you want to get out of the contract or if you pay your bill late.
Switching your New Jersey electricity provider could be the right choice for you. Make sure you check that it's the right decision before you do it.