Electricity Facts Label (EFL)

Shopping For Your Best Electricity Deal? Know Your Usage

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.

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How to Sniff Out a Texas Teaser Electric Rate

Texas has undoubtedly been the most successful US electricity deregulation market for residents. A lot of it’s success comes from the Texas Public Utility Commission’s (PUCT) marketing efforts when it launched PowerToChoose.org. Originally known as Texas Electric Choice, today’s Power To Choose site is still very popular for Texas residential electricity shopping, but it’s issues have also come under increasing scrutiny due to rate confusion and misleading electricity plans.

What’s the biggest issue on Power To Choose? Teaser Rates. As you work your way through the various electricity plans offered in your area, you’ve probably come across a few that seem too good to be true. These teaser electricity rates create confusion for customers looking for the best deal they can get using electricity comparison sites like the PUCT’s Power to Choose.

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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Why Does Texas Have Three Electricity Rates?

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.

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How to Read an Electricity Facts Label (EFL)

Hunting for the right electricity plan can be an intimidating proposition. Confusing rates, lengthy legal documents, and perplexing fees can lead to spending more than you intended on your electric bill if you take the wrong step.

This is why learning to read and understand an Electricity Facts Label (“EFL”) is so important for Texas electricity customers. Your electricity plan may be great, until it isn’t, or it could cost you an arm and a leg to leave it behind. You’ll know exactly what to expect once you’ve read and understood this important document.

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