1) Scan/email/fax your utility bills to your broker.

The broker will provide this information to qualified suppliers who need historical usage information to price the various competitive supply contracts they will offer you. Most information is obtained from your most recent bills. The suppliers may also request a signed LOA (letter of authorization) granting them permission to pull historical usage data directly from the utility. Either way, providing this information simply allows the suppliers to price the products and never locks you into any product.

2) Review pricing proposals, terms and contract length.

You should receive quotes from different suppliers for different products. Pay close attention to the pricing and the term of the contract. Also, make sure you understand the difference between fixed and variable priced products. The lowest current rate may not always be the best product for your specific situation. You must determine your risk tolerance and then evaluate the proper product to meet your needs.  A qualified broker can help you navigate this process by explaining the different products and negotiating with the suppliers on your behalf.

3) Choose the supplier with the best price and product to suit your specific needs.

After fully evaluating the different options, choose the right product for your situation. You will be presented with a supplier agreement. Read the agreement carefully and make sure it is consistent with the terms and conditions you have agreed to.

4) Monitor your utility bills to evaluate year-over-year savings and returns.

This optional fourth step will help you close the loop to ensure that your firm is actually receiving the benefits and savings from your deregulated energy supplier.  Monitoring can be as simple as using an Internet browser to view your energy bills. You will be able to view energy consumption data in aggregate and by fuel type for a single building or for all of the buildings in your portfolio.