It is safe to assume that as a consumer you have received multiple phone calls and mailings offering very low energy supply rates. How can you tell if these offers are long-term stable rates or if the person on the other end of the line is offering an introductory rate that will spike up your bill after the introductory period ends?
What is an Introductory Rate?
An Introductory Rate is a low rate offered as an incentive. The rate is lower than the typical market rate and offered only for a limited time.
How do I spot an Introductory Rate?
If the offered supply rate is much lower than the current market rate, there is a good chance it is an introductory rate.
How do I know if I’m already on an Introductory Rate?
If you notice an increase in your bill over a short period of time, it is possible that you were in an introductory rate that has since increased. Increases typically happen 3 to 6 months after the introduction period and can be drastic and devastating.
What do I do if I think I am on an introductory rate or my introductory rate has increased?
If you think you are currently on an introductory rate or the supply rate on your bill has recently increased, contract the supplier listed on your bill and request they provide you with your contract information.
How do I avoid getting swept into a great introductory rate that will soon increase?
Ask the person offering the rate how long the rate lasts and what the rate will be once your introductory period ends. Additionally, before signing a new contract, always request that the person offering the rate send you terms and conditions to review.
What if I need help figuring all of this out?
If you need help determining if you are or were on an introductory rate, help reviewing your bills, help reviewing your contracts, or help contacting your supplier, email us at firstname.lastname@example.org. We are always here to provide education and protection in the energy field so you can make the best decision for your business or residence!