The power to choose an energy supplier is a great opportunity for small businesses. However, understanding the differences between energy supplier, utility and everything else in between can be challenging. We’re debunking a few common myths about energy suppliers to help you understand what exactly energy suppliers, like AEP Energy, do and how you can benefit from working with them.
Myth: All states are deregulated, and everyone can choose their energy supplier.
Fact: While states have the option to deregulate, not all states within the U.S. have done so. Only homes and businesses within a deregulated state have the option to select an energy supplier. To find out if you live in a deregulated state, click here.1
Myth: An energy supplier is the same thing as an energy utility.
Fact: While both serve important functions in your business’ energy operations, energy suppliers purchase the electricity or natural gas for your supply. From there, the utility delivers that energy via their distribution lines to your business.
Myth: Energy suppliers offer the same rates and plans as the utility.
Fact: Utilities determine their pricing based on the average usage patterns of their customers within a designated territory. Energy suppliers look at your business’ individual energy usage patterns to provide both pricing and products that fit how your business uses power. With an energy supplier, you typically have a wider range of options to choose from, allowing for greater customization to your needs.
Myth: There are extra fees associated with using an energy supplier.
Fact: There are no additional charges for working with an energy supplier. However, once you’ve signed with an energy supplier, you’ll see a separate line item on your bill for energy supply rather than one lump sum charged by the utility.
Myth: If I’ve partnered with an energy supplier, they’re now responsible for my energy maintenance.
Fact: The utility is still responsible for reading your meter and offering emergency and maintenance services. This includes power outages, too. You can confirm who your utility is by looking at your monthly energy bill.
If you have additional questions about your AEP Energy account or energy suppliers in general, contact your AEP Energy Account Management Team firstname.lastname@example.org or 888-924-7111.