retail energy providers
If you’ve never heard of a retail energy provider, then it’s lucky you’re reading this post. Basically they can save you money on your utilities without any hassle. It’s all about lowering your bills by choosing where you buy your energy, just like any other product. Let’s get started . . .
What is a retail energy provider?
A retail energy provider (REP) is a private supplier that provides energy as part of a competitive retail energy market. For the most part, residential areas receive power from regulated default providers—like the city. REPs buy electricity from default providers at wholesale and then distribute it privately. Your power company still owns the “hardware” of the electricity process, but REPs are responsible for packaging and selling it to you. So in English, getting your electricity from an REP is like buying any other product: you now have a choice instead of being locked into one company.
Why are they usually cheaper?
Because REPs sell electricity in a free market like any other product, they’re competing for your business. This means that they almost always have lower prices than regulated energy providers and go out of their way to save you money and maintain your business. They strive to be the best choice for you in order to convince you to buy your energy from them.
What are some other benefits?
Aside from saving money on your electricity, there are other benefits that come along with choosing your energy provider. Because private providers are competing for your business, most of them provide a more customer-focused experience and go out of their way to give you improved customer service and the most innovative products available. Many also offer a variety of energy products and plans—which use primarily renewable energy—or other cool services like air conditioning maintenance, rewards programs, or other customer service benefits. Research the private providers in your area to see which one will give you the most for your money.
Are REPs a better choice for everyone?
Well . . . not always. In some cases customers are already happy with their current provider and don’t need a new provider. Other users are under a long-term contract and can’t switch. But even these users can look into other options and know for sure whether they want to renew their contract when the time comes.
How can I start using an REP?
This post is really just scratching the surface when it comes to the retail electricity market, but you can start doing some of your own research. The website resausa.org is a great place to start looking for REPs in your area.
How does Vivint factor in?
If you’re a Vivint customer and you’d like to take advantage of an REP, guess what? You already can. Vivint has teamed up with Constellation Energy, a Fortune 500 competitive power supplier, to help decrease customers’ energy bills. To find out where these services are offered and how you can sign up, get in touch with one of our customer service professionals at 800.216.5232.