Commercial electric customers have a great opportunity to make smart and simple choices when shopping to compare commercial electricity providers. The following information is designed to provide a basic guideline for owners and managers of commercial, industrial, and small businesses to use in the their states. Its purpose is to help them consider the many important aspects of gathering business electricity quotes when shopping multiple providers. Keep in mind, it is wise to gather information from as many as 3 to 6 providers.
Find commercial electricity providers whole house surge protector that are Registered or Approved by the appropriate public utility commission in each state. To maintain Uniform Business Practices, the utility commission must approve only valid and credit-worthy providers. Each provider must prove it meets a standard of particular credit, billing systems, and minimum legal requirements.
Find a provider that offers Innovative and Simple Products. At a minimum, the provider should offer Fixed and Indexed products. A fixed (locked-in price) contract may be better for those who prefer a conservative approach. Conversely, a monthly indexed product has pricing can be attractive, but can rise and fall with market changes. Therefore, it should be carefully considered because of potentially large fluctuations in billing. In comparison, a person might think of it like a fixed versus an adjustable rate mortgage. Additionally, providers offering other products such as green alternative energy solutions can be considered as well.
Make certain the provider has a Fair and Balanced Contract. The contract is the provider’s method of lay outlining its terms and conditions or transaction details. A contract should follow a standard legal format. Electricity customers should request a simple explanation of terms and conditions (a one-page summary is convenient). Customization of a contract can be important factor as well. For example, different industries will inevitably have varied needs when it comes to contract negotiations.
Find a provider that offers Competitive Price and Terms. A company should get multiple pricing bids for their business electric bill. Evaluate each bid for commercial electricity price, product specifics, and risk factors (i.e. fixed vs. variable, 6 or 12 month terms). The lowest bidder may not always be best. Abnormally low bids can suggest the potential of hidden costs, added risk, or price volatility. Hidden costs can be items such as meter fees or early termination fees. Long-term customer retention is not generated by signing the next contract alone. Instead, it comes from servicing the customer efficiently and with integrity.
Make sure the provider presents Reliable, Timely, and Accurate Billing. The business electric bill should appear clear and concise. Ask to see a sample bill to better understand how charges may appear each billing cycle. Take note of any penalties for late payments. Additionally, it is helpful to review how the provider resolves billing disputes. If a discrepancy occurs, it’s best to pay the undisputed amount of the bill first and then settle the disputed amount within ten business days. Lastly, customers should get their bill at approximately the same time monthly.
Check to see if the provider is Financially Stable. Providers that supply electricity for businesses perform a credit check on its customers, so consumers should do the same of prospective providers. A provider should have a solid Better Business Bureau rating. Also, it is possible to review a company’s Moody’s or Dunn & Bradstreet rating. Don’t be afraid to ask for a copy of your prospective provider’s yearly financials.
Find a provider that has considerable Industry Experience. Longevity is a vital factor when choosing a strong provider. A reputable company includes an experienced management team. Customers should look for companies with a sustained history of performance as commercial electricity suppliers. A company’s willingness to embrace technology can be a considerable indicator of future performance, and may indicate if they will keep up with changing industry trends.
Choose a provider with service based on a solid commitment of Professional and Effective Customer Service. Customer service really begins once the contract has been executed. First, a seamless transition from one provider to the next often spotlights the operational capability of a provider. The best providers can deliver a simple enrollment plan, describe its complaint resolution plan, present accurate contact information, and measure its customer satisfaction. In fact, some states publish helpful consumer complaint records that list monthly rankings of customer service. When there is a strong commitment of excellence starting at the top in an organization, it becomes evident in the way a client is treated.