Cut Your Gas & Electric Bill in Half in 10 Minutes

Summary

This video offers a practical guide for homeowners in select states to save on gas and electric bills by leveraging energy choice and shopping around for better rates. The host shares personal savings experiences and provides a step-by-step tutorial on comparing supplier rates, emphasizing the importance of avoiding door-to-door sales and scrutinizing contracts for hidden fees. Viewers are also directed to a state-by-state energy choice spreadsheet for ease of use.

Takeaways

• 🏠 This video is specifically aimed at homeowners or those who pay gas and electric bills in certain states.
• 👀 Viewers not in the mentioned states can skip the video or stay out of curiosity, or if they know someone who might benefit from the information.
• 💡 The presenter claims to show how to save money on gas and electric bills by using a computer in under 10 minutes.
• 📉 The presenter has personally reduced their gas bill by 40% and electric bill by 43% using this method.
• 🔑 The concept of 'energy choice' or 'deregulation' allows consumers to shop around for different suppliers to lower energy prices.
• 🏬 Utility companies remain the same regardless of the supplier chosen; they handle billing, outages, and infrastructure.
• 💰 The savings come from finding a supplier that charges less for energy supply, which will be reflected on the utility bill.
• 📊 States vary in their level of energy choice, with some offering full retail choice for both natural gas and electric, and others offering choice for only one.
• 🔍 The presenter has compiled a list of links and personal ratings for each state to help viewers find better rates.
• ⚠️ A warning is given about door-to-door salespeople who may not offer the lowest rates available on the market.
• 📝 The presenter advises to compare current rates with other suppliers, consider contract terms, and avoid early termination fees if possible.
• 📋 The process involves obtaining a current utility bill, comparing rates, and signing up with a new supplier online, who will handle the switchover.

Q & A

What is the main purpose of the video?

The main purpose of the video is to explain how homeowners in certain states can save money on their gas and electric bills by shopping around for better rates with different suppliers.

Why is the video specifically targeted at residents of certain states?

The video is targeted at residents of certain states because the concept of energy choice, or the ability to shop for different energy suppliers, is not available in all states.

How much time does the presenter claim it takes to potentially save on utility bills?

The presenter claims it can be done in under 10 minutes of clicking a few buttons on a computer.

What percentage of savings did the presenter achieve on their gas and electric bills?

The presenter achieved a 40% reduction on their gas bill and a 43% reduction on their electric bill.

What is meant by 'energy choice' or 'utility deregulation'?

Energy choice or utility deregulation means that consumers have the ability to shop with different suppliers to potentially lower their energy prices, while still using the same utility company for billing and infrastructure maintenance.

How does the presenter suggest consumers compare energy prices?

The presenter suggests consumers compare energy prices by looking at the supply portion of their utility bill and comparing it to rates offered by other suppliers.

What are the different types of energy choice availability mentioned in the video?

The video mentions that some states have full retail choice for both natural gas and electric, some have choice only for electric, and others only for natural gas.

What is the presenter's opinion on door-to-door salespeople for energy suppliers?

The presenter advises against signing up with door-to-door salespeople without first comparing rates from multiple suppliers, as they may not offer the lowest rates available.

Why does the presenter avoid variable rate contracts if possible?

The presenter avoids variable rate contracts because they can change month to month, which may result in higher costs in the long run compared to a fixed rate.

What factors should consumers consider when choosing an energy supplier according to the video?

Consumers should consider the price per unit of energy, the type of rate (fixed or variable), the contract length, the presence of an early termination fee, any monthly fees, and promotional offers.

How does the presenter decide on the best energy supplier for their needs?

The presenter decides on the best energy supplier by comparing the current rate with rates from other suppliers, considering contract terms, avoiding early termination fees if possible, and ensuring the contract does not end during peak usage seasons.