Electricity Facts Label (EFL)
Market securitization charges are a new line item on Texas electricity bills. They’re a direct outcome of Winter Storm Uri, paying for some of the extraordinary costs of that storm.
The Texas legislature passed House Bill (HB) 4492 in 2021 in response to the storm’s financial impact on the ERCOT power region. The legislation allows Texas REPs to add the charge to their bills for the next 30 years
You can’t avoid paying these fees, which are from a regulatory change. But you might as well understand them, since you’ll be paying them for the next 3 decades.
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What’s electricity usage got to do with it?
Being the electricity geeks that we are, we talk way too much with our customers, friends, and family about the price they’re paying for electricity. For whatever reason, people happen to like to swap stories about their electricity provider and rate.
The conversation usually starts with “Hey, guess what? I just got a <insert ridiculously low rate>,” and usually (unfortunately) ends with a gotcha and a comment about teaser rates, fine print, and usage.
Read More about Shopping For Your Best Electricity Deal? Know Your Usage
Texas teaser rates are rates that look great on the surface. But once you dig into the details, you find that your electricity rate isn’t what you expected.
Maybe you’ve seen a teaser rate before. It’s a rate that seems just too good to be true. These teaser electricity rates create confusion for customers looking for the best deal.
It’s one of the reasons we created ElectricityPlans.com. We evaluate electricity plans to find the best ones, so you don’t have to worry about it. But what exactly is a teaser rate, and how do you avoid them?
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If you are shopping for electricity based on one of the three electricity rates shown on the Electricity Facts Label, stop. You might pick the electricity company advertising the lowest rate based on 500 kWh, 1000 kWh or 2000 kWh. But you could soon discover it’s not as straight forward as you’d hoped. Because 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.
Read More about Why Does Texas Have Three Electricity Rates?
Knowing how to read an Electricity Facts Label (EFL) is the key to finding the right electricity plan for your home or business. Hunting for the right electricity plan can be an intimidating proposition. Confusing rates, lengthy legal documents, and perplexing fees can lead to your electricity bill being higher than you expected.
When you understand an Electricity Facts Label you’ll know exactly what to expect from your electricity plan. And, the added tools on the ElectricityPlans.com site can help you make sense of the math.
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