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Buying a New Home: How to Sort Out and Compare Energy Suppliers

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You might be excited to move into your newly bought home. Due to this excitement, electricity and gas suppliers might be at the bottom of the list of things you want to prioritize. However, sorting out your energy suppliers is an important step to avoid overpaying bills.

The good thing is that sorting this out is not as difficult as you might perceive it to be. Unlike processing your mortgage, getting energy suppliers can be done easily. The best thing you can do is to compare potential energy suppliers.

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Check if Your Location Is Deregulated

Only a few states have deregulated energy, while the majority are still regulated. Deregulation means that the consumer is given the option to choose their energy suppliers. Among the deregulated states are Connecticut, Pennsylvania, District of Columbia, Texas, California, Delaware, and a few others.

If you live in any of the deregulated states, you are lucky. Basically, those living in such states have the liberty to choose among various energy suppliers from who they will get services. The default supplier for homes that did not make a switch is the original supplier before the deregulation.

 

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Living in a  deregulated state also means that you have the opportunity to save on energy expenses. These utility providers are compelled by their competitors to decrease their prices and offer packages that can entice consumers. They also formulate promotions and loyalty plans to encourage consumers to get them as suppliers. 

Shop for Energy Suppliers

Shopping for energy suppliers is the most crucial and important step in looking for a supplier. It is the step that can lower energy usage. You can do it by visiting their offices. There are also websites where you can compare energy suppliers. 

However, comparing energy suppliers can be overwhelming. But doing so with a bit of knowledge and the help of comparison websites can make the task easier. 

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In shopping for a supplier, you should know what type of energy you want to use. It can be either electricity or gas. You should also know what source you want, such as hydropower, solar, nuclear, or coal. Knowing such will streamline your choices.

Next, it is important to do your homework. There are many suppliers out there that have different product offerings. Some might have lower prices but can have hidden charges. Others might have a slightly higher price point but better customer service. The best thing you could do is to look for reviews about different suppliers before settling on one. 

Third, be familiar with your energy pattern. Prices may vary per season and on weekends vs. weekdays. With a variable-rate plan, you might have no idea how much you will pay per month. Meanwhile, with a fixed-rate plan, you will know how much you’ll have to spend on energy bills monthly.

Now that you have the details needed, you should shop around for suppliers. Fill in the information needed, and the energy comparison website will generate a list of suppliers to choose from. If you found a supplier fit for your budget and needs, don’t hesitate to apply for it and wait for confirmation. 

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What You Should Do When You Move In

Moving day can be hectic, and thinking of your energy supply is the least of your concerns. However, you should bother telling your new supplier that you will take electricity and gas readings once moved in. This will avoid you paying for the consumption of those who used the home before you. 

Next, if you haven’t changed to your new supplier yet, you should find out the previous owner’s energy supplier. Moving to a new property means you will be placed in a “deemed contract” with the supplier before moving in.

Knowing the energy supplier will ensure that you will only be billed with the energy you use after moving in. Ensure that the previous owner has provided you with the details of the supplier to make it easier for you to inform them of you moving in. 

After moving in, take a new meter reading. Your energy supplier will provide accurate first billing. This also means that you will be charged for the energy you used since owning the property and not just from the date you moved in. 

Normally, energy suppliers will put you in their standard tariff rates, their most expensive tariff. This means that they might charge you with rates that are higher compared to other rates you could pay for. Thus, there is a need to change your energy plan. Doing such will help you avoid paying unnecessarily high bills. 

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Takeaway

Buying a new home and moving in is overwhelming. Because of this, you tend to overlook your electricity and gas suppliers. However, the supplier of the previous owner might charge higher than what other suppliers can offer. Thus, it is essential to sort out and compare energy suppliers to ensure that you will be billed accordingly. 

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