If you want to save the most on your energy bill, you are going to need to find a low-cost energy supplier who can offer you the features you need in a rate plan to help you save money—but those features aren’t going to be the same for everyone. Rate plans don’t just vary to allow certain people who have done their homework the lowest energy rates possible; rate plans vary to offer select demographic groups the rate plans that may most efficiently serve their specific needs. For instance, a start-up business isn’t going to have the same energy and rate plan requirements as a large-scale farming operation. Similarly, a single resident living in a two-bedroom apartment isn’t going to have the same energy needs as an eight-person family living in a multi-person dwelling. Your energy requirements are specific to who you are, what your needs are, and how your finances are operated. So, if everyone is different, then how can you all go about finding the lowest energy rates by locating a low-cost energy supplier?
1) Know your own needs
The first step is to identify your own needs so you can better identify the features of those varying rate plans that will accommodate you best. For instance, is your energy consumption consistent and relatively low? You may want to select a fixed or regulate rate option that will allow you to lock into a specific rate. You’ll be shielded from market spikes, and your energy bill will be easily budgeted based on its consistency. However, if you are planning a big addition onto your home, or if you are planning to assimilate another specialization into your business in the future that could introduce a potentially unpredictable increase to your energy consumption, then locking into a rate where consumption over specific limits could start costing you more isn’t the most effective option for you. You may want to maintain a flexible rate that allows you to benefit more from market dips in cost for the time being.
2) Consider all of your energy needs combined
Don’t forget to consider your natural gas needs in combination with your electricity needs. Many low-cost energy suppliers can save you money by allowing you to bundle your natural gas and electricity onto one bill.
3) Don’t forget to look for green options
Green energy has been a matter of uncertainty as its development and technological efficiency has been developing, but don’t let your uncertainty prevent you from benefiting from cost-saving energy opportunities. For instance, right now, the government of Alberta is offering green incentives, which means, if you select a low-cost energy supplier that is equipped with green energy options, you could be eligible for financial incentives that could help to cover the costs or compensate you for green energy installations that will allow you to continue saving on your energy needs into the future.
For more information on low-cost energy options and the low-cost energy suppliers that are available to you, visit energyrates.ca.