If you’re renting a home or apartment, you want your electricity to be reliable, affordable, and not something you have to think about. But, being a renter in a state that has electric choice, you have to think about your electricity or else your electricity plan could end up costing you big bucks.
The difference between the highest and lowest electricity rate plans can often be hundreds of dollars per month. Electricity providers have a wide variety of plans for you to choose from, and the choices get even more complicated when you have to consider the length of your lease.
How do you select the right electricity plan if you’re in a temporary living situation and you need to be flexible? Actually, renters have the same rights and the same choices as anyone when it comes to electricity plans. It’s not as complicated as you might expect.
Does My Electricity Plan Contract Need to Match My Lease Term?
Ideally it would be nice for the length of your electricity contract to equal the length of your lease agreement. However, if you find yourself in a temporary living situation where you need to sign a short-term lease, what should you do about your electricity contract? You might think that signing up for a month-to-month contract is your best option, but that is a mistake. Month-to-month electricity plans are notoriously the most expensive electric rates, and should only be used when absolutely necessary.
If you cannot find an electricity plan to exactly match your lease term, or if your living situation changes unexpectedly, no need to worry.
There are contract early termination fee exceptions for customers who move while they are in an electricity contract. Basically, you can’t be charged an early termination fee for breaking your electricity contract when you move out.
ElectricityPlans.com represents electricity providers that offer a variety of plans with different contract lengths. The plan term search facet on the site makes it incredibly easy to find a plan length that matches the term that you need. You’ll be able to easily compare available plans and select the one that best meets your needs.
Don’t Be Intimidated by Early Termination Fees
Your electricity provider will charge an early termination fee if you change electricity providers or plans before the end of your initial contract term, but there are exceptions.
Exceptions for Early Termination Fees in Electricity Contracts
- If you’re moving within the same utility delivery area, most electricity providers allow you to transfer your electricity contract to the new address without penalty.
- In Texas, if you’re moving and can provide proof of a change of address, your electricity provider cannot charge you an early termination fee. It’s a Texas Public Utility Commission Rule. This exception is also written in the fine print on your Texas electricity contract.
- In Ohio, if you’re moving outside of your electric supplier’s service area or to an area where your supplier charges a different price, you can terminate your electric supply contract without penalty according to the Ohio Administrative Code.
- In Connecticut cancellation fees for residential electric supply contracts cannot exceed $50 according to Energize Connecticut.
- A few electric providers waive the early termination fee if you simply call them directly to cancel your contract.
Finding the Cheapest Electricity Rate
Want to find cheap electricity for your apartment? As a renter you have access to the same cheap electric rates as homeowners. No need to be intimidated by early termination fees, and no need to pay expensive month-to-month electric rates because you are in a short-term housing situation.
The key to finding the best electricity rate is knowing how much electricity you use in a month.
Ask the leasing agent to provide you with the electricity usage information for the house or apartment you are about to move into. Once you have this information, you’ll be able to narrow your search for the perfect electricity plan. Just enter your monthly estimated usage in our advanced search box. We’ll calculate the estimated monthly bill for your new place.
Shop for Electricity For Your Apartment in Texas
Prepaid Electricity May Be A Good Choice – No Deposit!
If you’re just starting out and haven’t established good credit but can’t afford a large deposit, you may want to explore prepaid electricity plans.
Prepaid electricity plans are widely available in Texas and are a very popular option for those wishing to avoid credit checks and pay no deposit. While prepaid electric rates are a little higher, prepaid plans are a good option in many situations. Learn more about prepaid electricity in Prepaid Electricity: Is It Right for Me?
Shop Prepaid No Deposit Electricity Plans for Your Apartment in Texas
Choosing the Best Electricity Plan for Renters
Knowing a few key facts like estimated monthly energy usage (kWh used) and the electricity contract duration is essential to choosing the best electricity plan for your needs.
Use an electricity comparison shopping site like ElectricityPlans.com to quickly find the cheapest electric rate among many top-rated electricity providers. With the shopping tools available on this site, you’ll find the information you need to be confident in the electric choice that you make.