Why opt for alternative energy suppliers? Many consumers don?t even realize they have this choice. Many states today, however, have a competitive — also known as a restructured — energy market. This means that you don?t need to necessarily go with your default, current provider and can instead search among alternatives.
The Benefits of Alternative Solutions Thanks to Deregulated Electricity Markets
In most cases, the utility company has a monopoly on distributing electricity to your home if you live within their territory. What you?re not obligated to do, though, is buy electricity from them — and today, the cost of generating electricity is less than half of what you actually pay for when you get your bill. This can allow you to not only have more control over your budget, but control over your carbon footprint, as well. In certain regions you may be able to opt for energy that comes specifically from water or wind, rather than from coal or fossil fuel.
The average American household will pay about $107 each month in energy uses — equivalent to 903 kilowatt hours (kWh). Knowing what your average monthly energy usage is can help when you compare your options for alternative electricity suppliers. Not all companies are the same, and some offers will be better than others based on your individual needs and typical usage. The ideal alternative electricity suppliers for a home will be different than for a business.
Additional Ways to Cut Down on Your Overall Energy Bill
Besides looking into your options for alternative electricity companies, how else can you save money on heating and cooling? Most households can save about 10% per year on the cost of heating and cooling, simply by using a programmable thermostat.
Similarly, it makes sense to invest in efficient appliances, especially if your current appliances are over a decade old. Manufacturers today are often aiming for efficiency for even standard machines, and super efficient models can often be purchased for an extra cost. The average refrigerator sold today, for example, uses 75% energy than a fridge sold in 1975 — and refrigerators today are both larger, and less expensive to purchase.
Thanks to the deregulation of electricity markets, consumers have more choices than ever before. Don’t put off examining your options — switching to alternative electricity companies could help save you money every month you live in your home.