Vincent Palmieri | East Coast Power & Gas
With the end of summer, consumers need to start planning for what’s coming ahead as shorter days and chillier temperatures creep up on us. It is hard to imagine freezing temperatures when the sun is out and we are still experiencing warm weather, but this is actually the ideal time to start thinking about winter heating bills and how to keep utility costs from spiraling out of control, especially if another Polar Vortex hits New York.
Commodity prices have fallen dramatically with crude oil prices collapsing this year, exacerbated by the recent turmoil in global markets. Why is that important for the average consumer and how can consumers take advantage of these weak commodity prices to lower their heating bills this winter?
Consumers should act now in locking in a fixed rate when commodity prices are at historic lows. By changing energy suppliers and leaving their utility, they can easily execute a forward supply fixed rate contract, which will shield them from the volatility of variable rates. Most consumers currently are enrolled with a utility company, a quasi-government agency, for their heating supply but utilities unfortunately only offer variable rates, and they are not incentivized to operate efficiently or provide consumers with the best rates.
We all know what happened to heating prices during the past two winters with Polar Vortexes that brought freezing temperatures, which sent prices soaring. If consumers act now and change their energy supplier from their current utility company to an Energy Service Company or “ESCO” – they can lock in low fixed rates and prepare for the worst in weather this winter. They can also budget better because they’ll always know every month what their heating bill rate will be regardless of whether another Polar Vortex hits. This is the peace of mind that an ESCO provides to their customers.
ESCOs are always trying to find ways to save their customers money and provide new options on the type of energy products they offer; striving for innovative and environmentally friendly products at the best price sets ESCOs apart from utility companies.
Switching to an ESCO is easy and seamless. It doesn’t require a new separate bill from the ESCO. Consumers will continue receiving the same bill from their utility but the supply portion of it will be transferred to the ESCO by the utility.
Preparing for a long cold winter is the last thing you want to think about after a beautiful summer, but making the change now will help you avoid being punished by wild swings in your heating bills this winter so take the first step now to lower your heating bill by calling an ESCO or visiting an ESCO website. Take the few minutes to switch your energy supplier to lock in a fixed rate that will offer you more stability, predictability and the most competitive rates intended to save you money this winter.