Five Steps to Switch Your Ohio Electricity Supplier
Posted onBest Steps To Switch Electricity Supplier
Ohio electricity bills are getting more expensive every year. And rates may hike up even higher over the next few years. That's why you should shop for the best electric supplier plans in town. But how do you compare energy provider plans apples to apples? Here are five steps you can take to switch your Ohio electricity supplier.
#1 Understand Switching Costs
Firstly, Customers are not shackled to their utility's Price to Compare rate. Your utility will not charge you for switching to a new Ohio energy supplier as long as you do it only once a year. If circumstances force you to switch more than once, your utility will charge you about $7.50 per switch.
Customers can switch to a new supplier or return to their utility rates at any time. However, some suppliers may charge you an early termination fee to cancel before the contract ends.
#2 Understand Your Ohio Electricity Costs
Basically, it's best to shop or renew plans during the spring (March - May) or fall (September - November) shoulder month seasons. This is when temperatures grow more mild weather and energy demand lowers. As a result, energy rates can dip briefly.
Next, learn what your utility's current PTC rate is and when it's expected to change. Knowing when rates change helps you weigh short and long term costs. For example, AES Ohio charges 10.856 cents per kilowatt-hour (kWh) until May 31, 2027.
Next, find out your average monthly energy usage from your Ohio utility online account or your bill. This way you can estimate a plan's average monthly supply charges by multiplying the rate per kWh by your average usage. For example, an AES Ohio customer using 846 kWh would pay nearly $92 per month (846 kWh * $0.10856 cents).
#3 Compare Ohio Electricity Supplier Rates
Shop OhioEnergyRatings.com and consider what you need in an energy plan. For instance, are you looking for the cheapest rates or clean energy plans. Also keep in mind electric suppliers offering incentives like shopping and dining discounts.
After finding a few plans you like, estimate their average monthly supply charges. Then compare them to your utility's PTC charges. For example, a Loveland customer switching from the Duke Energy PTC rate to the Energy Harbor Safe Harbor Value 12 plan would pay 10.3 cents per kWh. So, their an average monthly supply charge 846 kWh runs about $87. That's $5 less than the Duke Energy PTC rates.
Note: Some plans may charge a monthly recurring charge (MRC). Don't forget to add that on top of the total before you compare it with PTC rates.
#4 Switch Your Ohio Electricity Supplier
When you're ready to switch, lock in your chosen plan through our website. Please note that AEP Ohio customers will need to enter their 17-digit service delivery identifier (SDI) number on their AEP Ohio bill to complete the switch.
Next, your new supplier will contact your utility about the switch. The utility will then send you a notice confirming your choice. You have the right to cancel the switch by contacting your utility within 7 business days from the notice's postmark date. If you want to make the switch, you don't have to do anything.
#5 How Long Does the Switch Take?
Generally, the process depends on when the energy supplier contacts your utility. So, it's best to make the switch at least 12 days before your next meter reading date (found on your bill). In this way, the switch should be effective by the next month. But, if you wait until only a few days before your next meter read, the switch might not happen until after the next month.
Is Now Best Time To Shop?
With a constantly changing energy market, shopping Ohio's electricity supplier plans can be confusing. But by following this guide, you should be able more quickly find the best plans and rates in town. Start shopping the best rates right here at https://www.ohenergyratings.com. We're also your best source for news and tips that could affect your bills.
