Electricity costs in Texas are trending up due to increased demand and regulatory changes. Because of that, many consumers are considering long term contracts. In this article you’ll find the best 24 month electricity plans plus the pros and cons of locking in more than the traditional one year power contact.
24 Month Basic Fixed Rate Electricity Plans
We recommend basic fixed rate plans and that’s what’s highlighted below. A basic fixed rate plan doesn’t include any bill credits, tiered rates or free electricity. But it does include a reliable and consistent energy rate per kWh no matter how much power you use.
There are other options out there, including an overabundance of tiered rate and bill credit options. But based on our 30+ combined years in this business and our experience reviewing bills every day, true fixed rates are the best option for most homes.
Consider all term options. Before you commit to a 24 month electricity contract, check rates for 12-month electricity plans. Wholesale market conditions will determine the cheapest option. Sometimes long-term contracts are cheaper, sometimes short term contracts have the cheapest rate.
Best 24-Month Electricity Rate in Houston
| Plan Name | Term | Rate/kWh |
|---|---|---|
| OhmConnect Energy TexasConnect 24 | 24 | 15.7 ¢ |
| TriEagle Energy Simple Savings 24 | 24 | 15.8 ¢ |
| Chariot Energy Solarize 24 | 24 | 16.0 ¢ |
| Rhythm Energy Simply Select 24 | 24 | 16.4 ¢ |
| Discount Power Wise Buy Basic 24 Online | 24 | 16.8 ¢ |
| Champion Energy Services Champ Silver 24 | 24 | 16.9 ¢ |
| Cirro Energy Simple Advantage 24 | 24 | 16.9 ¢ |
| Direct Energy Live Brighter Lite 24 | 24 | 16.9 ¢ |
| Champion Energy Services Champ Saver 24 | 24 | 17 ¢ |
| Frontier Budget Saver 24 | 24 | 17.1 ¢ |
Best 24-Month Electricity Rate in Dallas
| Plan Name | Term | Rate/kWh |
|---|---|---|
| OhmConnect Energy TexasConnect 24 | 24 | 15.1 ¢ |
| Chariot Energy Solarize 24 | 24 | 15.4 ¢ |
| TriEagle Energy Simple Savings 24 | 24 | 15.8 ¢ |
| Champion Energy Services Champ Silver 24 | 24 | 16.1 ¢ |
| Rhythm Energy Simply Select 24 | 24 | 16.1 ¢ |
| Champion Energy Services Champ Saver 24 | 24 | 16.2 ¢ |
| Frontier Budget Saver 24 | 24 | 16.4 ¢ |
| Direct Energy Live Brighter Lite 24 | 24 | 16.5 ¢ |
| Discount Power Wise Buy Basic 24 Online | 24 | 16.8 ¢ |
| Champion Energy Services Green Energy 24 | 24 | 16.9 ¢ |
Best 24-Month Electricity Rate in Corpus Christi
| Plan Name | Term | Rate/kWh |
|---|---|---|
| OhmConnect Energy TexasConnect 24 | 24 | 15.3 ¢ |
| Chariot Energy Solarize 24 | 24 | 15.4 ¢ |
| TriEagle Energy Simple Savings 24 | 24 | 15.8 ¢ |
| Champion Energy Services Champ Silver 24 | 24 | 15.9 ¢ |
| Champion Energy Services Champ Saver 24 | 24 | 16.0 ¢ |
| Frontier Budget Saver 24 | 24 | 16.1 ¢ |
| Rhythm Energy Simply Select 24 | 24 | 16.3 ¢ |
| Champion Energy Services Green Energy 24 | 24 | 16.6 ¢ |
| Discount Power Wise Buy Basic 24 Online | 24 | 16.7 ¢ |
| Cirro Energy Simple Advantage 24 | 24 | 16.9 ¢ |
Shop Fixed Rate Electricity Plans
Pros & Cons of a 24-Month Electricity Plan
There’s an upside and downside risk to just about every decision, and it’s no different with your electricity plan. Here’s how to consider the benefits and drawbacks of a longer term plan.
Pros of a 24-Month Contract
- Price stability. Your rate won’t change for two years which provides budget certainty.
- Inflation protection. You’ll be protected against price increases
- Convenience. No annual shopping hassles.
Cons of a 24-month contract
- Termination fee. These plans have a larger early termination fee if you want to cancel.
- Lack of flexibility. If prices drop substantially, you may regret locking in.
One option to consider? Look for a plan with a satisfaction guarantee. Some companies offer a 30-90 day satisfaction guarantee that lets you switch to a different plan with no early termination fee. That way you can lock in, monitor the market, and decide if you want to change your mind.
FAQs About 24-Month Electricity Plans.
Many consumers think they can get a deal by buying a longer term plan. After all, you’re making a bigger commitment and expect a discount. But power pricing doesn’t work that way. Electricity providers price contracts based on the underlying wholesale cost of power. Sometimes they can secure power cheaper in the future, other times near-term contracts are cheaper. So it always depends on the wholesale markets. Consider all term options when you’re shopping for power plans in Texas.
Early termination fees (ETF) vary by provider and term. For a two year contract you’ll find ETFs ranging from $250-$295. Some electricity companies offer a variable termination fee of $15-$20 per month remaining in the contract. Always review the Electricity Facts Label or read our plan details before enrolling.
This is a question only you can answer, and it has to do with how you view risk. If you think electricity prices will increase in the future, a long-term electricity contract will give you price certainty, stability and security. But a short term electricity rate lets you play the markets, switching often to the cheapest rate. Ask yourself, which would hurt more: knowing you avoided the risk or rising prices, or missing out on the cheapest rate at any given time?
Additional Resources
Here are some additional resources to help you shop for your next electricity plan:
- Best Electricity Companies in Texas including our #1 recommendation for basic fixed rate electricity plans.
- Cheapest Electricity Rates Right Now updated daily with the cheapest rates on our site.
- Short vs. Long-Term Electricity Contracts goes in depth on the pros and cons of each option.
