Personal Finance

Is Your Electric Company Charging You Too Much? This Site Could Tell You

Many of us feel trapped paying the same darn pricy electric bill each month.

You’ve tried to eliminate pesky energy vampires. You’ve replaced your light bulbs with the fancy efficiency ones. You might’ve even contacted your electric company to see what’s up.

We feel your pain, but here’s the thing: It might not be your fault. Your electric company might be charging you too much. If you live in a state with a deregulated electricity market — meaning you have more than one choice of provider — you could save a ton of money by switching.

That’s where the energy-saving company Arcadia Power can help. Its Smart Rate feature lets you know if your electric company is charging you too much — for free.

Curious? All you have to do is connect your utility account, and Arcadia will get to work finding you a better deal. If it can’t immediately help you out, it’ll email you as soon as it finds something. Then Arcadia will automatically  switch you over — you don’t have to do a thing.

Financial services worker Rebecca Rindler signed up for Arcadia Power in 2017. She didn’t think much of it then, but about three months later, she got an email from Arcadia that it had found her a better deal.

“Basically, I did nothing,” she says. She estimates she saved $120 on her electric bill during a brutal New York winter.

Bonus: When you connect your utility account to your Arcadia Power account, it’ll send you a $20 Target eGiftCard.

It only takes a few minutes to sign up and check your rates.

This article originally appeared on The Penny Hoarder