Compare electricity rates and find the best energy plan all in one place
If you search for “electric service” in your browser, you’re bound to be inundated with websites claiming to give you the best energy plans. How do these sites work and what is the difference between them?
5 Digital Energy was created with the intent of providing the same level of energy advice that we give our Fortune 500 clients to small businesses shopping online. Here’s how you should compare us against other electricity brokers in the space.
While all three of these types of companies deliver pricing and energy contracts to the end user, they are differences in the way they each serve and support their clients.
Retail electric suppliers are also known as Retail Electricity Providers (REPs) and Energy Service Companies (ESCOs). They are companies who purchase wholesale energy and sell it to end-use customers They closely follow and buy power in energy markets and set their energy prices based from that wholesale rate. Energy Suppliers in deregulated states, compete for business in those states, which ultimately helps to keep energy prices lower for energy consumers.
Energy suppliers sell electricity plans directly to the consumers or through energy brokers or consultants. The energy rates they provide are based on a utility territory and as well as the specific amount of energy usage (in kilowatt-hours).
Commercial Energy brokers are the intermediary between electric suppliers and end users. We often hear feedback from clients such as, “I can call and get rates from several energy suppliers, why do I need a broker?” While you’re certainly capable of calling several energy suppliers to find the cheapest electricity rates, that method is not as transparent as one might think.
An energy broker works on behalf of the consumer to bring comparable electricity and natural gas offers to the table. Often, the end-user is not in a contractual agreement with the broker. Contracts are typically between the client the chosen energy supplier. Brokers are normally paid a commission from the chosen energy provider for their services in connecting them to the end user.
To help you understand the differences among brokers, here are a few examples of other energy brokers:
By comparing these brokers, you can see the differences in service, transparency, and support offered. 5 Digital Energy stands out by providing unbiased advice and comprehensive consulting services to ensure you make the best energy decisions for your business.
While we perform a brokerage service, 5 Digital Energy works as your energy consultant. A big part of our consulting services happens before you even get to our website. We have a thorough vetting process with the energy suppliers we work with. We do this because we want our commercial customers can feel confident in their choice and the ways they are managing energy for their business. Both brokers and consultants are involved with energy procurement, but as your consultant, 5 Digital Energy always has your best interest in mind.
You may notice that we don’t have any featured electricity plans on our website like other shopping sites. Many online energy brokers have incentives from electric suppliers to promote certain energy plans. Unfortunately, unlike other professional services, the energy brokerage space has few licensing requirements. This low barrier to entry can result in energy brokers that are unskilled, inexperienced, and even even unethical.
To provide the most transparent and straight-forward energy rates, 5 Digital Energy receives the same commission regardless of which electricity provider or energy plan is chosen. We do not play favorites. As the leading consultant in the energy industry, we are here to help you to offer objective advice and manage your energy costs, consumption and sustainability goals.
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