Four Ways to Better Manage New Supply Contracts

What should you do when signing an electricity or natural gas supply agreement?

Read and understand your contract

Before signing any contract, make sure you read and understand all the terms and conditions, such as the term length of the agreement with the supplier, what types of fees there will be, how you will be billed, and what happens when the contract ends.

Receive confirmation

After you sign up, your new supplier will contact your current utility for you. Your utility will then mail you a confirmation. You have seven days from the postmark date on the confirmation to cancel the contract if you change your mind.

Create a file

Place a copy of your new supply agreement in a folder and write down the phone numbers for your energy advisor, supplier, and the utility.

Create a reminder in your calendar

Place a reminder in your calendar to renew your supply contracts at least 120 days prior to the date of expiration.