Top 5 Myths About Using an Energy Service Provider

  1. Your quality of service will change.
    1. Myth! Your current Utility provider, such as Con Edison, is still responsible for maintaining the grid and the delivery of energy to your home or business. Thus, this is simply a billing reduction with the same services you currently have. The only difference you will see on your bill is the savings!
  2. You will experience service interruptions during the switch.
    1. Fooled Again! Your services will not be interrupted during this change. This is a billing related change, thus the services are unaffected. The ESCO we choose together will work with your utility on your behalf for a seamless transition.
  3. There are hidden charges.
    1. No! WAVE Energy will break out and explain each part of your utility bill before and after the energy supply cost is improved.  There are no hidden fees associated with this and no upfront costs. Your current Utility provider, charges an additional fee (Merchant Function Charge) for the supply of your energy in addition to the cost for usage. By choosing an energy provider you are not only changing your supply rate, the Merchant Function Charge is eliminated from your bill.  The only thing that changes is lower energy bills. If you want to see where this supply charge is on your energy bill, check out an example here.
  4. You are stuck with no one to call if there is a maintenance or service issue.
    1. False! If you experience any service issues, you would still call your current utility company as they are responsible for maintaining your services regardless of where the supply is comes from.
  5. Isn’t deregulation is bad for energy costs?
    1. Hmm, that’s a great question! There has been a lot of speculation surrounding ESCOs and the energy market, especially with Congress mandating that all 50 states to be deregulated by the end of 2015. With this, residences and businesses will have more energy options to fit their needs, save money, and de-monopolize the industry. However, choosing an ESCO is not required and consumers who do not choose their own supplier will pay the utiility company’s service rates and service charges related to the procurement of supply. Most clients who choose their supplier through WE save 8-12% on their energy bills over the course of their contract.

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