energy

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Wednesday, May 22, 2019

3 things to know when choosing money-saving energy provider

ABC13's Pooja Lodhia looks at the things you need to know when picking an energy provider, especially with money-saving offers out there.

With the temperatures heating up, energy prices are higher than ever. So how do you know if you are getting a good rate? And how often should you change providers?

According to experts, there are three things to look out for, especially as providers offer benefits and favorable rates.

Jesson Bradshaw, CEO of Energy Ogre, suggests not choosing a provider based on incentives. Some will offer free smart thermostats, gift cards and even travel points. Experts say you wind paying for these added bonuses threefold.

WATCH: Is "free" really "free" when power providers offer bonuses?

ENERGY TIP: Don't be fooled by providers' incentives | ABC13's Pooja Lodhia breaks it down with Jesson Bradshaw of Energy Ogre.

In addition, "balanced billing," which offers benefits like free nights and weekends, often end up being spread out, according to experts. You always end up paying a lot more up front and it never truly balances out in the end.

WATCH: See how much you're truly paying on your power bill

ENERGY TIP: See how much you're truly paying | ABC13's Pooja Lodhia speaks with Jesson Bradshaw of Energy Ogre.

And the third thing to look for, which experts stress the most, is favorable rates. Powertochoose.org reveals the hidden costs and higher rates that lurk beneath these seemingly great prices.

WATCH: Loyalty to one provider not necessarily means lower rates for you