What exactly is an Energy Supplier?
Energy suppliers are companies who own and operate the technology that produces and delivers energy to customers. An energy utility, for instance, owns all the electrical poles and generating plants, as well as the electrical transmission lines which deliver electrical power from them to customers. Customers can choose from many different energy suppliers in an energy market such as the UK’s National Grid. When choosing an energy supplier, there are a few key things to look for. Finding a supplier who has the following qualities is important:
Reputable energy providers have their name and reputation established within the industry. This means that the customer should be able to rely on them when it comes to getting the best deal, the most reliable services and the best quality of energy supplies available to them. Before looking for an energy supplier or utility company, ask friends and family for recommendations. Look up independent review websites to see what other people think about certain companies. Find out the past customers feedback and the utility company’s track record to help you make the best decision.
UK energy suppliers
All energy providers must be registered with the UK Energy Agency (WEA). If they are not, they cannot offer regulated commercial services in the UK, they cannot give out tariffs and they cannot write off tariffs to customers if they cannot pay their bills. The law allows us to ban these unregistered suppliers for three years. However, the ban only applies to unbranded tariffs and not to those which are offered by name brand UK energy suppliers. This means that some retail energy providers may be offering the same tariffs as deregulated energy market players.
It is possible to make savings when paying your electricity and gas bills. Many of us take our first steps towards saving money by choosing to switch energy suppliers. However, there are a lot of hidden costs when choosing deregulated energy providers. For example you may be unaware that during the switchover you will be charged for any excess energy that your supplier has provided to you. This is known as ‘advance price’; and if you pay nothing at this time it can mean big savings.
gas and electricity to customers
Deregulated energy providers have been allowed to pass on costs of gas and electricity to customers. The rates they set is often much higher than the prices utilities have to pay. This means that the utility companies cannot raise their prices when they are legally allowed to do so. This means that you, the consumer, benefit from this and you can easily compare prices from different suppliers.
Energy providers that are also members of the grid should always give you the opportunity to ask them for a fixed rate quote. A fixed rate is simply an agreement that the company has made with you and the US Federal Energy Regulatory Commission (FERC). The problem many consumers run into is that the energy provider has changed their name. To check out whether a particular supplier has changed their name, simply go online and use your favourite search engine to look for “regulated energy providers” or “regulated energy supplier”. You will now see a listing of all of the energy providers in the area.