How to Choose Your Energy Supplier | Using an ESCO to Manage Cash Flow
Updated: Apr 24
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The State of New York opened the state’s electric and natural gas industries to competition in the 1990's. Changes in these markets have provided an opportunity for consumers to choose their supplier of energy. New York residents and organizations can shop for energy the same way they shop for anything they consume — by comparing prices. We've noticed many organizations are not doing their homework; therefore, they are paying more than they should.
Did you know it's common for New York organizations to have more than 50 suppliers who will compete for their business at any given time!? We feel most organizations are only receiving a quote from one or two suppliers.
It pays to look at all suppliers, because the cost can vary widely and your organization can get locked into a contract that is not in its best interest. It's prudent to have an independent cost consulting company, like Integrity Cost Consulting, help you by preparing a multi-rate comparison and performing a cost-benefit analysis. When you limit yourself to one or two suppliers, you limit your options. We constantly monitor the market and notify our clients of opportunities to capitalize on market dips or lock-in rates before rates start to rise. We are indifferent when choosing a supplier, our allegiance is to our clients, so our goal is to deliver the lowest possible rate.
Keep in mind there are times when it makes sense for organizations to stay with procuring supply from their incumbent utility company (i.e. National Grid). We would let you know when this is the best decision.
In summary, it pays to compare and perform a comprehensive analysis.
Contact us with questions. Good luck.