Frequently Asked Questions
What is deregulation?
Energy deregulation is where some states have allowed customers to purchase their energy (electricity and natural gas) from alternative energy producers rather than just being forced to buy from their local utility company. The benefit is that the consumer now has competitive markets rather than a regulated monopoly setting the prices.
If I switch my energy service provider where does the billing and service come from?
Nothing changes on your bill or service. Your local utility company handles all the billing, repairs ,infrastructure and customer service. The local utility will handle the delivery of the power to your location just like they do now. The only difference you’ll notice is a lower power bill.
If I am currently under contract can I change to the new contract?
Generally you will have to complete your current contract. However, we can lock your lower rate in for up to 12/24? months before your current contract expires. This allows you to lock in the lowest price now and you start the day your current contract ends.
What is a Kilo Watt Hour (kWh)?
A kilo watt hour is a measure of electric usage that you see on your electric bill. What it means is 1000 watts of power expended for one hour of time.
What is a Mega Watt or Mega Watt Hours?
This is the equivalent of using 1000 kilowatts for one hour or 1000 kWh
What if I have a power outage?
You will call your local electric utility just like you do now. They will handle everything in regards to service or repair
Why do different length contracts have different price per kWh?
The main reason that contract prices differ depending on contract length is that power suppliers can predict more accurately their costs over the shorter term than long term.
Should I commit to a long or short term energy contract?
That really depends on you and or your needs. If you see your power needs or the cost of power going up in the future then it may make sense to lock in your savings today for the longer term. If you feel that energy costs are going to go down or not change much, then you might opt for shorter term. Remember we over terms from 6 to 36 months.
Whom should I buy my power from?
Since deregulated energy is basically a commodity it would make sense to buy from any reputable company that gives you the lowest price. You have choices. Remember your local utility is going to deliver the power, service the account, maintain the local lines, bill and collect, and take care of any service issues just like they do now. You will not see any difference in your account except the price, no matter which energy supplier you go with.
How do I know if I am getting the best price?
With our online platform you can log in and get real-time energy quotes from up to 15 different providers. You can monitor this from the comfort of your home or office, decide if you want to lock in a new rate or contract or perhaps wait if you feel costs are trending down. Either way you will have the information you need at your fingertips.
Does everyone have the option to choose their electricity or natural gas provider?
Unfortunately No. Deregulation of energy is on a state by state basis.
What markets do we currently provide service for?
CT, IL, MD, MA, NJ, NY, PA, TX, DE, & ME
What is a reverse auction?
A reverse auction is where you establish a base kWh price and power companies bid to get your business at a price lower than your base or strike price. For example you may have a price of .07/kWh and companies will come in and bid at some number below that such as .065 or .063. You would look for the lowest price and then accept the lowest bid.
What are the advantages to having an auction?
The advantage is saving money. Remember the power suppliers are going to bid down to earn your business.
What are the disadvantages to having an auction?
There are really none. This gives you the most transparent view of where the energy market really is.
How does a reverse auction differ from other forms of energy procurement?
A reverse auction is a true auction where various providers are providing quotes in real time. This is similar to a commodities trading on the Board of Exchange. The difference is that the energy suppliers are bidding down for your business rather than bidding the price up.
What is a Blind Auction?
A blind auction is where companies bid without knowing what the competitors are bidding as well. This could be compared to a silent auction that you might see at a charity event. The premise is that the providers will bid low to assure the bid, but without competitive comparison how do you know? Blind auctions are non transparent events where the buyer only sees the winning “bid” Is it the best bid? Who knows?
What if I have an existing contract?
You can still lock in your new rate and it will start the day your existing contract expires. This will give you flexibility in your expense planning going forward
How does this site differ from all the other energy wholesale and quote sites?
We are the only ones offering free Real Time Energy Quotes and Online Reverse Auctions. You cannot save any more money anywhere else!