Coverage
Octipower has you covered for Electricity and Natural Gas.
Why Octipower?
Octipower is an energy marketplace that helps households and businesses intelligently procure energy. We offer agility and transparency to our clients and customers, and help you quickly find the most economical and efficient energy options for your business or home.
Octipower has built the is one of the most established deregulated energy marketplace in the North America with access to over 100 natural gas and electricity suppliers. Our wide range of energy plans and options ensure you save on your energy bills. We are deeply committed to providing affordable, sustainable energy plans as well.
Our secure and hassle free 3-minute Quick Quote sign up process provides you with custom options from dozens of suppliers competing for your business. We break down each plan type, call out the important, often overlooked details in Terms & Conditions—ensuring transparency and no hidden fees!
As your reliable energy partner, Octipower finds the best energy plan that fits your budget and unique business needs. We offer competitive energy management plans in the major utilities across all the deregulated states, connecting you with more suppliers and offering you a much wider choice. Our top-notch customer support service is highly responsive and ready to resolve any issues in a timely manner.
How we connect you directly to Suppliers
Octipower plays a powerful role in connecting energy consumers directly to energy suppliers. Octipower is a marketplace where users can easily and conveniently shop for energy rates across all the deregulated markets with over 80 energy suppliers. Octipower seeks to ensure transparency in pricing when you ‘eliminate’ the antiquated broker commission oriented structure. Furthermore, Octipower connects end users of energy to both commercial and residential energy suppliers. Octipower ensures you have control with bill auditing, auto-renewals, and easy to digest, standardized contracts. Obtain greater peace of mind with Octipower’s secure 3-minute enrollment, price and contract alerts, and 24/7 customer support.
In the past few years, the energy marketplace has undergone some massive changes. The latest trend of deregulation helped stabilize the industry and encouraged new energy suppliers to enter the market and serve the energy needs in a competitive, cost-effective way. The increased competition in deregulated markets has lowered the cost of energy to the benefit of customers. Deregulation has created an energy marketplace with healthy competition between old and new suppliers – where customers now have more choice.
What is Energy Deregulation?
In simple terms, Energy Deregulation is the introduction of a new set of rules opening up the energy marketplace to new energy suppliers and creating options for the customers to choose who they want to source their energy from. Previously a regulated energy market existed where the state picked only one energy supplier. This local, state chosen supplier was the only source of energy and had complete control over the pricing. With the introduction of new rules deregulating the marketplace, new suppliers are able to enter the market and customers are able to shop around for competitive rates. These new competitive rates save customers a substantial amount of money on their electricity and gas bills.
What does Energy Deregulation mean for your Business?
While the process of deregulation started a long time ago, it was not until the late 2000’s when new service providers entered the market bringing competition and delivering energy at better rates.
Today this newly deregulated energy market has grown so much it has over 150 suppliers providing competitive energy rates to the customers. In a deregulated energy market customers can still purchase energy through their utility company, but they can also opt to purchase energy directly from the supplier and have the utility company simply service the account. This new alternate procurement process, leads to potential savings of 5-40% on monthly utility bills.
An industry of brokers has emerged to facilitate energy procurement and capture these savings for customers. The rates previously charged by the supplier in the regulated energy market were so high energy brokers were imbedding margin to earn a commission from the supplier even after offering 20-30% savings to customers.
What is an Energy Contract?
After deregulation of the energy marketplace in the United States, energy suppliers are increasingly transforming the way they procure energy and transport it to your business. An energy contract, alternatively an electricity power agreement, is a contract drawn between two parties – the energy supplier who generates energy, and the buyer who purchases and uses energy.
There are namely three types of energy contracts, namely a fixed flexible, and combination energy contracts. The third option, Combination Both types of contracts are sourced through commercial energy suppliers and encompass a wide range of energy-related services and tariff agreements. From the point-of-view of business energy procurement, deciding between different types of energy contracts entails an in-depth consideration of the available options.
Types of Plans
Fixed Energy Contract: A fixed energy contract allows you to lock in a certain energy rate for the entire length of your contract. A fixed energy contract is ideal for business owners who have a set energy budget and wish to reduce uncertainty or risk to have more control over their energy bills and want to always know how much they are paying for their usage. You are locked into a fixed rate, and any attempts to terminate Early termination fees with this type of contract depend on the unique details of each offering. Octipower always calls these out for you so there are never any surprises.
Flexible Energy Contract: As opposed to the fixed energy agreement, a flexible energy contract is a customized, risk-free flexible energy plan that offers a predictable certainty on the best times to buy. In effect, flexible energy contracts allows your business to benefit from variable wholesale energy prices, thus letting you maximize on the most advantageous time and market rates.
Combination Energy Contract: Combining the fixed and flexible features of an energy contract provides you with a hybrid utility management solution for your business’ energy needs. This combination arrangement enables you to benefit from two energy purchasing solutions. A combination or hybrid energy contract, uses two approaches for to managing your portfolio. thus managing your For your locations with more variable usage a fixed rate plan will be used, . And, for locations with more stable consumption, a flexible energy plan is used.
Energy is an important traded commodity, one on which businesses rely heavily. While there are a number of different types of energy contracts and power purchase agreements available for purchasing energy, one method is not necessarily better than the other. As a business owner, it’s important you understand your unique requirements and needs, Octipower is here to help you determine which contracts best serves you.