Texas residents and business owners have many options for comparing electricity rates and plans. However, a plan’s price per kilowatt-hour is one of many factors.
Look beyond the advertised cents-per-kWh rate to understand the terms of your contract and potential add-on fees.
Choose a Plan
Choosing the right plan for your needs can be daunting. Several online comparison tools simplify the process, making you effortlessly assess factors like prices per kilowatt-hour, contract length, and additional perks.
Begin your search by entering your zip code and answering straightforward questions about your usual monthly consumption, plan type preferences, and contract length. Then click Narrow Your Search to speed up the process.
Once you’ve entered your information, you’ll be presented with a list of available plans and rates from energy providers in your area. Some of the most common options include fixed-rate plans, which offer price stability and protection against market changes, and variable-rate plans that track market prices, allowing you to take advantage of low-demand periods.
Another popular option in Texas is time-of-use (TOU) electric plans, which let you save on power charges by limiting how much electricity you use during peak hours. To make the most of a TOU plan, you must monitor your usage and adjust your habits accordingly. But remember that TOU plans often have higher rates than other plan types, so compare carefully. Always read the Electricity Facts Label (EFL) to ensure you understand the terms of your new rate. This way, there’s nowhere for pricing gimmicks to hide.
Read the Fine Print
Residents in Texas could choose their electricity provider since the state’s energy market was deregulated in 2002. While utility companies are responsible for delivering energy to homes, they cannot sell power plans or offer competitive rates. On the other hand, energy providers compete for your business by offering a variety of rate plans with different contract lengths and features. For instance, https://energypricing.com provides various plans for your electricity needs.
When shopping for electricity rates, it’s essential to consider all aspects of a plan. You need to understand not only the type of rate but also the contract terms, fees, and energy sources.
It’s also important to remember that your usage level determines the amount you pay for power. Some Texas energy providers offer a flat-rate plan with the same price per kWh throughout your contract period, while others have tiered rates that increase with usage.
Other plans include a base charge, a monthly fee that prevents customers from exceeding a certain usage threshold, or bill credit plans that give you discounts after meeting specific usage levels. Choosing the right plan for your household is simple when you use the electricity marketplace to compare rates and providers in your area.
Track Your Usage
Finding the best electricity rates in Texas requires more than just comparing prices per kWh. Factors such as whether a plan is fixed or variable, if it’s prepaid or not, and the percentage of renewable energy a provider offers in their plans can significantly affect your actual rate costs. Unfortunately, many inferior plan-finder online tools fail to account for these factors and mislead consumers.
Fortunately, there is a way to avoid these traps. Using an intelligent tool, you can get the most accurate picture of the cheap electricity options available.
You can also use this tool to compare business electricity rates in deregulated areas. The rates advertised are typically lower than residential rates because they don’t include transmission and delivery fees. You can sign up easily and quickly once you’ve found the perfect plan. The new provider will work with your utility company to handle the service transfer, and you won’t experience any interruption in service during the switch. The whole process takes less than 2 minutes. Be sure to review the terms of your contract, including any early termination penalties.
Renew Your Contract
If you’re stuck with your current provider because of an expired electricity contract, know it’s still possible to shop around for a new deal. Keep track of your contract end date and start shopping for plans well before that day to avoid getting caught off guard and being switched to a variable rate.
Remember that rates differ based on the plan term you choose, so a plan with a shorter term is likely cheaper than one with a longer term. It would help to read the Electricity Facts Label to see how a provider calculates your bill. Some plans include transmission and distribution utilities (TDUs) fees in their advertised rates, while others do not.
Conclusion
The good news is that you can switch providers anytime in Texas, where you have a deregulated energy market. So, if your current provider isn’t offering the best rates, call them and try negotiating.
You might be surprised at how willing your energy provider will be to offer you a better deal. That’s because they understand that the state of Texas is a competitive marketplace, and they are in business to make you happy and retain customers. So don’t let your contract expiration surprise you—contact a reputable REP to find the best Texas electricity rates today.
