Why Businesses Overpay for Energy and How to Stop
Why Business Overpay for Energy Energy is a critical operational expense for businesses of all sizes. Despite its significance, many
Why Business Overpay for Energy Energy is a critical operational expense for businesses of all sizes. Despite its significance, many
Energy is a critical operational expense for businesses of all sizes. Despite its significance, many companies unwittingly or unknowingly overpay for their energy, often due to a lack of understanding about energy deregulation. So, why does this happen, and what can be done about it?
In many states, energy markets have undergone deregulation. This means businesses and consumers are no longer restricted to purchasing energy from the local utility or a single utility provider. Instead, they can select from a variety of retail energy suppliers. These suppliers compete with each other, often leading to more competitive pricing and better service offerings. However, many businesses don’t harness the full benefits of this deregulated market.
Not Knowing About Energy Deregulation
The first and most common mistake is not knowing about energy deregulation or not taking advantage of it. Every month, the U.S. sees over 500,000 new businesses. Opening a new business is a lot of work, and many business owners overlook ways to save on energy costs simply by not knowing about energy deregulation.
Lack of Market Research
Just because you can choose which energy supplier to get electricity from doesn’t mean any choice will do. Many businesses stick with their utility or original provider out of convenience or switch to a new one without thorough research, potentially leaving significant savings on the table.
I can’t tell you how often I could find better rates for a customer who was “already with a supplier” or was convinced they had the best rate simply because they had been with a supplier for years.
Falling for Introductory Rates
Some retail energy suppliers might lure businesses in with attractive introductory rates that spike after a promotional period. Without reading the fine print, businesses can become trapped in costly contracts.
Not Monitoring Energy Consumption
It’s not only about the rate you pay but also about how much you consume. Many businesses don’t monitor their energy usage patterns, missing out on opportunities for efficiency and optimization.
While navigating the world of energy deregulation can seem daunting, you don’t have to do it alone. At Energy Professionals, we specialize in helping businesses make the most of their energy choices.
Our seasoned team has deep knowledge of the deregulated energy market, ensuring you always get the most competitive rates. Beyond just rates, we’ll work with you to optimize your energy consumption, identify inefficiencies, and recommend solutions.
Contact us today if you’re looking to harness the full potential of energy deregulation, reduce your bills, and better manage your energy spending. Let Energy Professionals be your guide to energy savings and a sustainable future for your business. Contact us today!
James Lightning
Senior Editor, Energy Professionals
(844) 674-5465
info@energyprofessionals.com
Energy Professionals is committed to finding its customers the best possible rates on electricity and natural gas. Tell us your location and service type and our energy manager will connect you to the most competitive offers.
Switching to an alternate supplier is easy. There is no chance of service disruption, and you'll continue with your current utility for energy delivery and emergency service. Take a few minutes to discover your best offers, and enjoy the benefits of retail energy in your home or business.
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