The simple answer is, NO. All suppliers are not the same and neither are the rate programs. A lot of customers get mixed up with suppliers and get intro-variable rate products, which are not beneficial at all. They offer ridiculously low rates and throw in rebates which are usually equal to 25% of your average monthly supply bill. That sounds really good, but what they don’t mention is that after the first couple months the intro-rate expires and the rates start increasing drastically each and every month. By the time you realize it you’ve already been overpaying by as much as 2 to 3 times the average cost for months and unfortunately there’s no way to get your money back.
Many of the top suppliers we work with offer something called a “Blend and Extend” option. Here’s how that works, as your account manager we’ll be watching the market for drops in pricing. When we see one that works and is beneficial for you we can use the blend and extend product to get the supplier to lower your rate accordingly and extend the coverage period to maximize opportunity for you.
That option is known as the “Default Rate” and of course you can do that. But, here’s what you should know before choosing that option;
Your utility is NOT a supplier, they are just a distributor. Your utility has to acquire energy for you based on a set of rules established and enforced by the state (usually the P.U.C). Your utility does NOT profit from the price they charge you for supply and as such, they have no benefit or motivation in finding the best price.
Almost all contracts have an ETF (early termination fee) attached to it that is enforced. Most brokers would try to switch you off of your current contract, but that would almost surely cause you to get hit with a hefty cancellation penalty, so we don’t do that. Instead, we handle situations like this with what is called a “Forward Start.” We find you a competitive rate that starts at the end of your current agreement and get it executed. Then we keep an eye on market conditions for you during your term so if the market goes down we can drop the rate we gave you even further.
Energy markets and rates are constantly changing, in most cases a price today will be gone tomorrow. We urge customers to review their current rates and take advantage of better options if available.
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