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.
Where are electricity rates headed in 2018? You’ve likely heard rumors about tax cuts reducing your utility bill, but what are the other variables that will make your rates go up or down? Let’s examine the most important energy factors that will contribute to retail electricity price movements over the next 12 months.
UPDATE: Looking for 2019 Energy Trends? See Energy Trends to Watch in 2019.
December means holiday shopping season for many people, but the one item most people leave off their list is to shop for a new electricity plan.
If your contract is due to expire in the next couple of months, you might be surprised at the affordable rate plans you can find during the holiday season. Winter is traditionally a slow season for electricity shopping, yet there are several good reasons to compare electric rates and lock in a plan for the upcoming year.
You might think that cold weather means higher rates, but that’s not always true.
When Texas became a deregulated market in 2002, The Public Utility Commission of Texas (PUCT) developed a website to educate consumers and promote deregulation. The site matured and in 2012 received a massive overhaul and became the PowertoChoose.org that Texans know today. A large-scale marketing campaign ensued to promote brand awareness and the PowertoChoose.org site soon became the place for Texans to shop for electricity. The site developed a large following.
Unfortunately, today some electricity providers take advantage of the weaknesses in the site in order to attract customers. As a result, the PowertoChoose.org has evolved to be far from an unbiased source of electricity plans with the consumer’s best interest in mind despite the PUCT’s good intentions. Learn more about the ways certain providers are exploiting this site and how consumer’s can avoid these pitfalls and find a better way to shop for electricity.
If you’re a Texas resident living in a deregulated utility delivery area, you have likely used the Power to Choose website to look for an electricity plan for your home. The Power To Choose website operated by the Public Utility Commission of Texas (PUCT) has been both a significant contributor to the success of retail deregulation in Texas and the source of much confusion for Texas residents looking to compare electric rates and choose an electricity provider.
Lately, the PUCT’s site has come under fire from both consumers and providers for listing plans with potentially misleading electric rates. If you’re overwhelmed by the shear volume of electricity plans and confusing rates listed on PowertoChoose.org, you’re not alone.
If you’re shopping for cheap electricity plans in Texas, you might decide to pick the company that advertises the lowest rate. Makes sense, right?
But wait, you soon discover it’s not as straight forward as you’d hoped. There are separate electric rates for 500 kWh, 1000 kWh, 2000 kWh. And unless you read the find print you may choose the wrong plan.
Before you blindly click on the plan with the lowest advertised rate, read this article.