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Published on January 31, 2023
TLDR: Maximize winter energy savings by using your home’s historical kWh usage to find the best energy plan. Comparing energy plans with your electricity usage can lead to lower energy bills and more informed decision-making. Learning energy-saving tips and regularly reviewing your plan can also help reduce costs.
Maximizing winter energy savings
Winter months can bring great joy with the festive season, but they can also be harsh on your wallet due to increased energy consumption. Heating homes and offices can consume a lot of energy and significantly increases energy bills. With energy prices constantly fluctuating, finding an energy plan that fits your usage and budget is more important than ever. This is where your historical kWh usage comes in.
Understanding historical kWh usage
A kilowatt-hour is a unit of energy used to measure electricity consumption. Your historical kWh usage data records how much energy you have consumed over a specific period, typically one year. This data lets you find the perfect energy plan by comparing energy plans according to how you use electricity.
To access your historical kWh usage data, check your monthly energy bills or log into your energy provider’s account dashboard. Understanding this data is important in finding an energy plan that fits your usage and reduces energy bills.
How to use historical kWh usage to find the perfect energy plan
Comparing Texas electricity rates based on your historical kWh usage is easy. Start by collecting your historical kWh usage data monthly for one year. Enter your usage history on ComparePower’s historical usage calculator. Compare plan prices based on your historical kWh usage.
Comparing energy plans with your historical kWh ensures that you select a plan that fits your consumption pattern, reduces energy bills, and helps you make an informed decision based on your actual usage rather than just an estimated average.
Check out this short 2-minute video to learn how shopping with your usage works on ComparePower.
What length plan should I choose?
A common question we get when switching is the term length of the contract.
Is it best to choose a 12, 24, or 36-month plan? The length of your energy plan depends on your individual needs and preferences.
A 12-month plan offers stability, predictability, and the flexibility to shop again in 12 months.
A 24-month plan provides a longer period of stability in energy rates, but you may miss out on lower energy bills if rates go down.
A 36-month plan offers the longest period of rate stability. This term is ideal if you find a rate you like and prefer to lock that in for an extended period.
It can be difficult to predict electricity prices as supply and demand, fuel prices, government regulations, and weather conditions influence them. The energy market is highly dynamic and constantly changes, making it challenging to predict future prices accurately.
Ultimately, assessing your energy needs and considering the current market rates is best before deciding on a plan length. You may also want to consider the plan’s flexibility and the penalty fees for early termination.
When can I switch providers?
While you can switch electricity plans at any time, it is important to note that some providers may charge an early termination fee (ETF) if you end your contract before the end of the term.
The ETF is designed to compensate the provider for any losses they may incur from ending the contract early.
Before switching plans, be sure to review the terms and conditions of your current contract and consider the ETF fees involved.
In some cases, the potential savings from switching to a new plan may outweigh the ETF fees, so it’s important to do the math and weigh your options carefully. You can quickly do the math with ComparePower by plugging in your kWh usage and letting us crunch the numbers for you.
It is also worth noting that some providers may offer ETF-free plans, so be sure to consider all your options and choose the plan that best meets your needs and budget.
Starting service for a new home
If you don’t have access to the previous usage history for your new home, you can estimate your electricity usage. You can also ask the previous landlord for a copy of their kWh usage history for 12 months.
Tips to maximize savings this winter
Aside from finding the perfect energy plan, several other tips can help you maximize your energy savings this winter.
First, familiarize yourself with the different types of energy plans and rates available. There are fixed-rate, variable-rate, and prepaid plans, each with advantages and disadvantages.
Conserving energy and reducing usage during winter is another way to reduce energy bills. Simple changes, such as lowering your thermostat, sealing drafty windows, and using energy-efficient lighting, can help you save electricity.
Finally, it’s important to regularly review and adjust your energy plan to ensure you are always getting the best deal.
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