Easy Process

ShopChoseSave makes shopping for electricity easy
 
With over 40 electricity companies all vying to win your residential and or your electricity business it can seem difficult to manage. The effects of a slowing economy has caused many companies to downsize and consolidate employee roles within the organizations. Many employees are now managing the electricity decisions as well as other positions they previously held.
How do you ensure your company gets the best electricity rate possible without compromising on valuable service? Our Advisors have put together some time saving and helpful tips you can use to ensure you don’t over pay for electricity every single time.
 
Step 1: Gather Your Bills and List Of Meters
This is probably the most important step in the process. Having your meter information ready is like knowing your credit score before walking into a car dealership. It gives you leverage. This lets the provider know you are prepared and you mean business. You want to ensure you pull your last 12 months of electricity invoices and have them handy. If you know your company will be adding or subtracting a location or ESID from your electricity load you want to make note of that. This will change the amount of load you need going forward…And if is significantly less or more, it could also change your price for better or for worse. Have this information handy as you go through the process.
 
Step 2: Determine your electricity goals
In life and everything else, having set and written goals are so important especially when going through this process. This is your roadmap that will keep you from veering into dangerous territory. Once you have these goals you should not deviate from them.  For example, you might start the process with the goal of getting better service than you had before and lowering your electricity cost by 20%. But one of the providers has a new summary billing system that they claim will save you time and “soft costs” because you reduce your invoices from 10 to 1. But with this provider you will only reduce your costs by 5%. And you really like the salesperson; they bought you Houston Rockets tickets. They want to sell you a variable product MCPE (Market Clearing Price For Energy) which could reduce your rate by as much as 30% based on historical rates but it could increase by 50% depending on numerous factors you may or may not understand. Referring to your goals will help you stay on track and focused on the true goals.  Signing a fixed price contract that will allow budget certainty and the savings you need. Making your business more productive and reducing the costs that weigh down your bottom line.
Be sure to set a firm timeline for completion of the process. Many times allowing the providers to drag it out can end up costing you potential savings.
 
Step 3: Compile “The Big List”
Gathering a list of providers is simple. Collecting a list of providers whose strengths match your business needs requires a little more effort. There are over 90 electricity providers in Texas. Some big some small, some have great service and some not so much. Some providers offer term fixed price contracts and some primarily sell variable priced products.  Some have dedicated industry experts that support your market segment like, Multifamily New Home Builders, Commercial Real Estate or Manufacturing.
You want always to focus less on brand names and more on the capabilities and service they provide.
Many companies spend millions of dollars on marketing campaigns to attract customers and minimal amounts actually to serve them well. There are numerous places online to get information on electricity companies. The type of information you should look for are:
  • Where are they headquartered? This can tell you a lot about how much local support to expect. Particularly for questions /decisions that only can be answered at Corporate.
  • How long have they been serving the deregulated Texas Electricity market? Companies with a longer history tend to have more pricing options and much more overhead than newer companies. Newer companies tend to be much more aggressive but may lack in sophisticated capabilities.
  • How many complaints have they had in the past? Buyer beware. Like a credit score, this can be a strong indicator of future behavior.
  •  What types of products do they offer? Their websites can sometimes provide a lot of insight on the products they tend to push.