Whether you are moving somewhere new, or just shopping for a new provider, finding a new electricity provider is a process worth investing a little time in to before you make any decisions.
If you do not already, you must understand the way the electricity is measured and how your bill is calculated. Before you understand this, you cannot make informed comparisons between providers.
Most Important Information to Consider When Selecting Utility Companies
There are a few critical pieces of information to keep in mind as you shop for new electric providers. A limited selection of providers may be in your area. Most electric companies only service specific areas and many areas of the country only have a handful of options. It would be best if you researched all of the providers available in an area when you move to a new one.
- HVAC Costs Are One of the Biggest Contributors to Your Monthly Bill
Believe it or not, the most significant contributor to most people’s average monthly energy usage is the heating and cooling of their homes. It takes quite a bit of energy to maintain the house’s temperature consistently regardless of the time of year.
It only becomes even more energy-intensive as equipment ages. Many homes have older HVAC systems that are far more inefficient than newer models. If possible, either select a home with newer, more efficient HVAC systems or replace the one at your home.
- Fixed or Variable Rates?
There are several different methods used to calculate the bills customers received from their electric providers.
Depending on your electric provider’s method, you can expect to receive bills based on specific factors. This lets you plan more efficiently and better understand how your energy uses impacts your finances.
There are two primary methods used in the industry to calculate bill totals for customers: fixed and variable rates. Fixed rates charge customers a specific amount for every unit of electricity used, most often the kilowatt-hour. Variable rates feature prices that fluctuate with the cost of electricity production.
Fixed rates usually are more expensive on average, but they’ve got price stability, so you will never need to guess your next bill. Variable rates can be more affordable, but you need to ensure you are prepared for potential jumps in your monthly electric bill.
- How Your Bill is Calculated
Electricity Rates In Dallas are calculated by using a customer’s total monthly electric usage. This is typically measured in kilowatt-hours. Depending on whether your provider offers fixed or variable rates, you will either pay a static or fluctuating price for your electricity based on the amount used in kilowatt-hours.
Many electricity providers offer you monitoring your monthly electricity usage in real-time on their websites.
- Monitoring Your Electricity Use
Use the websites provided by your electricity providers to keep an eye on the amount of electricity you are using each month. You can quickly determine how your decisions are impacting the energy usage in your home this way.
You can calculate your electricity consumption by recording the total amount used by all of your devices each day. Multiply that within the number of hours it is in use each day to get the watt-hours. Convert watt-hours in to kilowatt-hours by dividing by a thousand. Multiply the result by your electricity rates, which can typically also be found on your electricity providers’ website.
The Benefits of Energy Efficient Home Upgrades
If you are concerned about your electric bill after shopping for electric providers in a new area, you may want to look at upgrading your home’s energy efficiency. There are many new technologies you can use to improve the efficiency of your home’s energy use.
Whether it is adding solar panels to the roof, installing a smart thermostat, upgrading the HVAC system, or putting more insulation in the walls, each additional upgrade helps reduce your monthly energy use. Thus your bill will also decrease.