MythBusters – Common Myths about Energy

Finding the right energy supplier and energy source for your business can be a daunting and complicated task. Due to the confusion and difficulty involved in the task, some business owners may not choose and suffer by paying a higher default rate of electricity and gas.

The good news is that if you are part of the open market, you can choose your energy supplier. Most people do not know this, which is why we are about to bust the top five myths about energy choice. So you can choose the right energy supplier.

Myth No.1: Everyone needs to buy energy from a Utility Company

Fact: If your business is part of the open energy market, you can choose your energy supplier.

Many regions allow businesses to choose their energy suppliers. They can buy it from the local Utility Bidder or an independent energy supplier. In both cases, you will be purchasing electricity and gas, which will be delivered to you through the gas pipes and electrical wires connected to your business building.

By purchasing your energy from a third party, you can take advantage of many benefits such as discounts and special offers and saving money. You can get energy at a lower price, better terms, and rates by searching the market.

Myth No 2: Utility companies are the best source for purchasing energy

Fact: All energy suppliers are part of the same energy market.

Many parties sell and trade energy. But the truth is that all energy providers ranging from utility providers to independent suppliers are all part of the same energy market. Individual energy suppliers can buy energy from other generators. All types of energy suppliers have access to the same sources.

Myth No.3: If someone cancels their contract with the energy utility company, their electricity and service are no longer reliable.

Fact: Choosing the right supplier does not affect the reliability of the energy during outages.

It does not matter where you buy the energy from. The utility will ensure that the wires and pipes responsible for delivering power and gas to your business building are intact and ready. Businesses that purchase energy directly from the utility do not in any way receive higher quality and faster service than those who purchase through a third party.

Myth no. 4: The Utility companies are nonprofit

Fact: Local utility companies are owned privately, and many factors affect your rate and their profit.

Utilities are great sources of money. The majority of the utility companies are making lots of money as they have many shareholders responsible for generating profit and returns.

Myth no. 5: Competitive energy suppliers are a fraud

Fact: Competitive energy suppliers are reliable can help your business

Competitive energy suppliers are no scam. They are authorized and certified to function. They are accountable for the energy business, such as pricing, rates, and services.

In a nutshell

Many myths are widely believed even today regarding energy suppliers. However, it is very important to know the truth from falsehood. You should do your research before believing any myths and things you’ve heard about energy suppliers. This will help you better understand how energy suppliers work and help you land a contract with great rates.