How Do I Switch My Electric Provider?
Are you stuck with a high electricity rate? Maybe you’ve checked the rates recently and you’re not happy with what you’re paying. Then it’s time to switch electric providers. Thankfully, finding the best electric company for your needs is easier than ever. We’ll tell you what you need to know to exercise your right to PA Electric Choice.
What to Know Before You Switch
Before you switch plans, there are a few details to consider. First, check your utility’s PTC rate so you can compare plan offers. This way, you’ll know which rates are competitive when you shop electricity rates in Indiana, PA.
Second, check your current plan contract for early termination fees. High termination fees can eat up any savings you get by switching providers. That’s especially the case if you only have a month or two before your contract expires.
Finally, there’s the time of year to shop. Spring is the best time to look for a new plan. Lower heating use means natural gas prices fall, bringing electricity rates down with them. Right now, natural gas prices are the lowest they’ve been since 2020. So make sure you take advantage of it!
What to Look for When You Switch Electric Providers
Now, let’s consider a few things when shopping providers. First, while variable rate plans only last a month and have no contract, their rates can change every month. They’re great for temporary situations but over time they will cost you more. In contrast, fixed rate plans keep the same rate throughout their contract period; usually lasting 2 months to 36 months. This protects you from rising prices. However if prices fall, you may miss out because you’ll still be locked into your contract rate.
Before you sign up for a plan, always read its terms of service carefully. Companies can charge early termination fees, monthly service fees, or even increase rates for excess usage. It’s also a great idea to look at customer reviews. It can help you avoid a bad billing experience!
Finally, check for what happens when your new contract expires. Some will renew automatically, many at a variable rate. Others will transfer you to your utility’s default PTC rate. Keeping tabs on when your contract expires can help you avoid any costly surprises.
What Happens When You Switch Electric Providers?
When you’ve signed with your new provider, they’ll send you a “plain language disclosure statement”. This contains prices and terms for your new electricity supply agreement. When you receive this, your right to rescission gives you three days to change your mind and cancel the contract.
The switch itself goes through when your new electricity provider notifies your old provider and local utility about the switch. Your local utility, Penelec in Indiana, will mail you a letter showing the date when your new service will begin (usually on the date of the next meter read). This is to prevent slamming and other fraud. Your new plan usually takes effect on your next billing cycle.
Switch and Save with PA Energy Ratings
Now you should feel confident switching providers. But where do you go to shop for a new plan? You can shop for rates, compare providers, and read reviews on one website. Switch and save with https://www.paenergyratings.com