Electricity Price Comparison Site Benefits
Price comparison sites have been beneficial to consumers throughout many industries. As shopping on the Internet has exponentially increased over the last fifteen years, Internet based companies have matured offering consumers quick, easy, and informative methods for comparing the price and quality of products which has saved people money and almost as important, time. With the number of electricity choice markets increasing in recent years, websites such as ElectricRate.com are providing consumers an information hub to learn and compare electricity prices.
Following the business models of travel comparison sites such as Expedia and Travelocity, electricity price comparison sites collect rate information form dozens of electricity companies and display the information in an easy to read format that allows consumers to compare multiple offers in a quick manner. Electricity prices are unique to other industries in that prices can vary substantially depending on the state and city where the consumer resides. Even though this service is for electricity market that have been deregulated there exists a component of the charge that is regulated by the individual state law which results in price discrepancies from what service area to the next.
In addition the various electricity companies have the ability to present their rate offers in different formats making it difficult for a non-energy expert to analyze multiple offers. For example one electricity company might offer a fixed electricity rate for a year that includes all components of the energy charge while a competitor might offer a lower one year fixed rate with a high monthly fee that is enacted if the customer uses below a certain threshold of power in a given month. The first offer would be beneficial to a individual living in an apartment while the latter would be better for a family living in a large house, however this might not be so clear without spending twenty minutes or more reading through the fine print.
Successful electricity price comparison sites strive to take the pain out of reading fine print for the consumer by creating a platform that compares electricity rates apples to apples. Consumes simple enter in their zip code and are shown multiple offers from licensed electricity companies in their area. The offers often range from month-to-month variable terms to three year fixed terms, as well as options to buy renewable energy. However the focus at ElectricRate.com is to provide consumers with the lowest electricity prices at any given time.
By becoming a customer of ElectricRate.com, a consumer gets automatic updates of all offers in the database for their address when their contract ends. The electricity company with the lowest rate is constantly changing. Many consumers will compare prices once and then end up staying with the company they choose for several years. During this time the customer will end up paying significantly more for their power than they need to just because they have become comfortable renewing with one company. The ElectricRate.com database of price offers allows consumers to keep their rate down by switching from one company to the next in an easy no-hassle manner.