Wilmington Electric Rates.
Wilmington, Delaware, Utilities
Learn About Electric Rates in Wilmington, Delaware
Delaware has a deregulated energy market, which drives competition among suppliers. Suppliers set their rates in hopes of gaining market share, and consumers can choose based on the rate and service offered. With the energy market always changing, switching to a new supplier may help you save on your next bill.
Even though suppliers are up to consumer choice, utilities are in charge of their set service areas. Utilities distribute electricity to homes and businesses, handle power line maintenance and respond to outages. In Wilmington, Delmarva Power is your utility.
Understand Your Electric Agreement Options
When you enroll with a new supplier, you’ll choose your rate and term so think about your goals for the next couple of years as a business or resident. Do you plan on growing your business? Are you moving? Planning any efficiency upgrades to your facility? There are different terms and conditions that may be more beneficial depending on your business goals in the coming years.
With your new energy agreement, you will have the option to pick your product type. Fixed rates stay the same for a set period, and variable rates change from month to month based on changes in the energy market. Variable rates often come with a monthly service fee for residential clients and typically are not worth it.
With commercial fixed products, you want to know what portions of your supply are fixed and what portions allow for pass throughs if the market changes up or down. Additionally, there are block and index products for larger commercial and industrial clients. This product locks in a portion of your energy and allows you flexibility to index another and take advantage of any market dips. Block & index does require more of a hands on approach.
Before you sign a contract, make sure you know when your current contract ends. Matching up your new agreement to your current end date will help you avoid any early termination fees. If you still have questions about deregulation and your electric supply in Wilmington, Delaware, talk to one of our energy advisors at 800-225-3813.
Find a New Wilmington Electric Company With An Auction
Energy consumption makes up a significant portion of expenses for large commercial and industrial consumers. Finding a new supplier can help you save on your next energy bill, and with EnergyPricing.com, comparing rates is easy.
Our reverse energy auctions invite suppliers to compete for your business. We’ll invite available suppliers in your area based on tailored criteria specific to your RFP, and they’ll submit their bids in an attempt to win your business. When the auction ends, you’ll have a list of rates and terms to pick from.
While you may be looking for the lowest rate, it’s helpful to understand supplier contracts and how they’ll work with your usage. One of our energy advisors will review your options alongside you and provide their recommendation. Whether you pick the lowest rate or the best contract language, you can feel confident in your next energy agreement.