The Importance of Competition in Energy Choice

“Thank you but I’m already working with someone…” The famous last words of the guy who paid too much!

"Thank you but I'm already working with someone..."

The famous last words of the guy who paid too much!

Look, I’m a consumer too. Be it for lower energy rates or anything else, getting bombarded with offers, phone calls, and e-mails is enough to drive anybody crazy. 

But at some point you will need to decide, is not taking a few minutes to listen to someone’s pitch or to hear what they have to offer worth missing out on one of your biggest advantages  as a consumer – YOUR CHOICE?

The secret here lies in competition! 

As an Energy Consultant, I can’t tell you how many times a business owner has told me “No thanks, I’m covered”, “I’m already working with an energy broker”, “I’ve already got the lowest rates”.

But, low-and-behold, in almost every case when I looked at their energy bills, I was able to find them LOWER ENERGY RATES and save them money!

Why? How?

Because competition. 

In this article, I am going to discuss how COMPETITION HELPS YOU! And, although I’m talking about finding lower energy rates, these same concepts apply to any industry, even your own. 

The Benefits of Competition

Energy Broker

I’ll never forget the Church we helped in New York who was convinced they were paying the lowest energy rates because they’d been working with their energy broker for years!

Right… when we did an energy analysis with her accounts, we found they were paying more than double what they should be! And by finding them lower rates, we saved them almost $25,000 a year!

That church benefited from competition! 

Competition generally leads to

  • Lower prices
  • More choice
  • Innovation and better quality products FOR YOU!
  • Improved customer service

Competition benefits YOU!

A General Example of How Competition Works in Business

Here is a simple example of how two companies compete for your business, and how you as the consumer, benefit big time! 

Business A opens a business and starts to sell blue cubes for $10 each. Business is great… until Business B opens nearby and starts to sell blue cubes at $9.

Business A, seeing a drop in revenue because their competitor is beating their price, lowers their price to $8 AND puts on a special where you can buy 2 blue cubes for $15. Sales go back up.

Now YOU get the same blue cubes for less money. You’re benefiting, but here’s where it gets fun.

There’s only so much price-dropping you can do before it gets unprofitable so Business B invents a better quality blue cube!

Now you have a choice, you can buy a blue cube for $8 with Business A or buy a better quality cube for the same price from Business B.

As a consumer, you’re now saving money and getting a better blue cube.

Business A responds aggressively by throwing in a lifetime warranty on their cube, AND you can now get red, yellow, and green cubes! SUPER CHOICE and “worry-free shopping”.

Business B applies the same but says if you buy cubes from them, you’ll get a free triangle with every purchase!

Now you’re saving money, you’ve got choice, you’ve got improved quality, and you’re getting free stuff.

Competition all over America forces companies to drop prices, put on sales, increase quality, give you more choice, and improve their customer service.

Finding Lower Energy Rates is Fueled by Competition

The entire concept of energy deregulation is built around the principle of competition.

The reason your state deregulated their energy markets is because they considered your utility as a monopoly, which they are, and they gave you a choice! 

That sparked competition and now you have suppliers that can offer your lower rates, more choices, better plans, and awesome customer service!

I know. There are advantages to working with the same energy consultant year after year and building a relationship. But always remember that another energy consultant could find you a lower rate and a better plan because of COMPETITION!

My point is, whether someone contacts you about energy, telecom, or anything else, hear them out! Take 10 minutes and listen to what they have to say and what they are offering, and check out their pricing.

The worst-case scenario is you decide to stick with your current plan. No loss. But best-case scenario, you find lower rates and save a ton of money, get a better plan, and better customer service. You win!

And that how we do at Energy Professionals, we leverage your energy account and get top suppliers competing for YOUR business, which is why 9 out of 10 times we come back with better rates and better plans! We use the concept of competition to your advantage and instead of going back to the same supplier every time, we work with over 50 top suppliers across America!

If you’re looking for low energy rates, competition will benefit you!

James Lightning
Senior Editor, Energy Professionals
(844) 674-5465

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