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What You Should Know About Switching Energy Suppliers

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Have you ever switched electricity or natural gas suppliers for your business? If you’re in an open energy market, you have that option. But what is a retail supplier and why should you consider switching?

What is a retail energy supplier?

In a regulated energy market, there's generally only one option for purchasing energy: your local utility. Utilities are usually government owned and responsible for maintaining the electricity wires and gas pipes that deliver energy to your home and business. 

In an open energy market, consumers have energy choice. While utilities still deliver energy, you can choose to buy it from a retail supplier like Direct Energy Business. Because of their access to the wholesale markets, retail suppliers can often offer greater variety and customization of prices, contract length, and green choices. Plus, for larger corporations, retail suppliers can buy energy using sophisticated triggers and hedges and develop energy strategies designed to help you meet budget, sustainability and efficiency goals.

What should I expect when I switch?

Switching energy suppliers may be a good strategy for saving money, getting a green energy plan, creating flexibility with your contract, or getting a better customer experience. So what happens when you switch?

  • Are there penalties for switching?
    Your utility and the body that governs it in your area support the opportunity for businesses to choose their energy supplier–and they do not penalize those who switch to a competitive retail energy supplier. But it’s a good idea to contact your current supplier to verify when your contract ends, and if there are any cancellation fees or penalties for switching to a new supplier prior to that.

  • Do I need new equipment when I switch?
    With most suppliers, including Direct Energy Business, you can receive electricity or natural gas without making any physical modifications to your facility or meter. You’ll receive energy through the same transmission and distribution lines and pipes as today. 

  • Will my service be interrupted?
    Your service transition from one supplier to another should be completely seamless. Suppliers and utilities usually agree upon a transition date based on your contracts. You should move from one to the next without so much as a flicker of the lights. 

  • When will my new service begin?
    Your new energy supplier will be able to help determine your start date.The date you sign your contract and your current meter read cycle will factor into what your actual start date will be. It can take one or two billing cycles from the date you sign a contract for service to begin. 

  • Where will my bill come from?
    Small businesses in many regions receive a bill from the utility company with all charges – including those from your new supplier. In some areas, however, you’ll receive a separate bill from your supplier. You should contact your new energy supplier or utility for clarification of billing in your region.

All you have to do is choose your supplier - and signing up only takes five minutes.

If you're looking for more ways to save on your monthly energy costs, try a DIY energy audit. You’ll learn more about how your company uses energy – and where it’s being wasted.

Start My Energy Audit

Posted: April 27, 2018