Texas electricity customers face historically high electricity prices this summer. The rising energy rates are not so much a result of the cost of natural gas, the primary commodity used to generate electricity, but are a result of increased demand and anticipated shortages in supply. What does this mean for customers on variable rate, month to month electricity plans? High, high, high electricity rates for the dog days of summer. Who is most at risk? Prepaid electricity customers and customers on holdover rates from expired electricity contracts.
If you’ve shopped for an electricity plan in Texas recently, you’ve probably noticed that rates are rising. In fact, some of the energy rates for Texas plans have increased over 30% so far in 2018 and will continue to rise as the summer approaches.
What’s contributing to this rise? In short, it’s simple economics. Understanding the market forces at play in ERCOT will help you make an informed decision about your energy needs going into the summer and avoid a painful utility bill.
Sharyland customers – your nightmare electricity bills are officially coming to an end.
On July 24, 2017, Oncor announced that it had reached a definitive asset swap agreement with Sharyland Utilities (SU) valued at approximately $400 million. Upon PUCT approval and successful close of the transaction, Sharyland will receive approximately 258 miles of 345 kV transmission lines from Oncor, and Oncor will receive all of Sharyland’s distribution network and, following ERCOT transitioning, all of Sharyland’s retail delivery customers.
As the people of Southeast Texas return to their homes and assess the damage from Harvey, the Public Utility Commission of Texas (PUCT) has taken steps to help those directly impacted. On August 31, the PUCT passed emergency order #47552 requiring Retail Electric Providers to offer deferred payment plans to customers, by request, in areas covered by a disaster proclamation until September 29, 2017.
We are super excited to announce the official launch of ElectricityPlans.com! We serve the deregulated retail electricity markets in Texas, Ohio, and Connecticut with a fantastic choice of providers and plans in each market. Our mission is to give our customers the best variety and choice along with a stream-lined shopping experience when it comes to choosing an electricity plan for their home. We will continue to establish partnerships with the nation’s most reputable retail electricity providers and grow our reach to more deregulated states throughout 2017 and beyond.
Electricity deregulation is a relatively new phenomenon, although the idea of unregulated electricity is far from new. As with any deregulation in industry, the objective is to remove power from monopolies, and encourage competition