To build a custom electricity solution to meet the needs of your organization, you need to review various services offered by different energy suppliers and their pricing plans. You could also consider the feasibility and practicality of alternate energy sources available in your area. It could also be a combination of alternate energy source and the best plan available on the grid. For considering alternate energy source such as solar or wind power, you will need the expertise of an energy consultant to work out feasibility and cost effectiveness. To build a custom electricity solution to meet the needs of your organization, you need to choose the most cost effective price plan. Your choice will mainly depend on the certainty of your budget and your level of risk tolerance. Here are the different plans available with energy suppliers today - • Fixed Price Plan: In this plan, the cost of your electricity is locked and it will not fluctuate for a specified time. If you are worried about possible rise of energy prices in future, and do not have the funds to meet such costs, then this plan is the best way to build a custom electricity solution to meet the needs of your organization. Since the price of energy is fixed, you do not have to pay anything extra, even if prices go up during the period. However, you can lose if the energy prices fall during the period, as you will have to continue paying the earlier price that was locked. • Flexible Price Plan: In this plan, the supplier will use an index to calculate the price of energy according to market fluctuations. Price of electricity is tied to the cost of natural gas, and level of energy demands. Hence, when these two fluctuate the electricity price will also fluctuate. A plan with fluctuating prices is helpful, when you are able to schedule your business production when the rates are down. However, when the energy costs are rising steadily, such a plan will not provide much relief. • Combo Price Plan: To help you take advantage of both type of plans many energy suppliers are now offering a combination where you can choose a portion of your electric consumption to be billed according to the fixed plan, and the rest of your bill calculated as per the flexible option. Another option is to purchase a certain power block at a fixed rate, and any excess is made available at the market rate. This is another excellent option to build a custom electricity solution to meet the needs of your organization. When your risk tolerance for energy price fluctuation is low, it is better to lean more towards the fixed options. Similarly, when you are certain, energy prices are going to rise with time, you can opt for fixed options. To build a custom electricity solution to meet the needs of your organization, you need to weigh in all the available price plans, and choose one, which will be most cost effective.
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