How to Save on Energy Costs – Understanding your plan options
If you want to save on energy costs, the first step is to understand the differences between fixed and variable rate energy plans. This can help you determine which is the right plan for you and help you save.
Fixed Rate Plans
Energy rates are determined monthly, which is directly affected by supply and demand as well as the weather. Just like any other product, increased demand and limited supply for energy can substantially increase the cost. As long as demand increases and supply remains the same, energy costs will increase.
A fixed rate plan is an all-inclusive per Ccf/Mcf/Therms price that will remain the same for the term of the contract. EnergyMark offers a fixed rate plan that locks in one low rate which protects you from these volatile energy costs. You get a guaranteed price by locking in the same rate for a 12 or 24 month period. When energy costs increase, your rate will remain the same – and you don’t have to worry about the volatility of the energy market.
Variable Rate Plans
With variable rate plans, the cost of your energy will fluctuate up or down each month, just as your current utility bill does. If you select a variable rate plan, the rate will change with market conditions. So, if market prices increase, your rate may increase. If market prices drop, your rate may decrease.
However, with EnergyMark’s Guaranteed Savings Plans, we ensure that no matter what happens to the energy markets, your annual costs will be lower by receiving your supply from EnergyMark instead of the utility.
Guaranteed Savings Plans
How can we guarantee savings? EnergyMark uses local resources and maintains a low cost of overhead to deliver the cheapest rates in Western New York. Each month, local utility companies post their supply rates, and we simply set ours underneath it. In addition to saving on the supply rate, there are also several taxes and fees that are waived when you switch to an energy supply company.
How Are My Rates Determined Now?
If you are currently not on a program with an Energy Services Company (ESCO) like EnergyMark, you are paying the regulated utility rate for natural gas or electricity. Natural gas rates are determined monthly which is directly affected by supply & demand and weather.