Texas

Liberty Power Bankruptcy – What Now?

If Liberty Power supplies your residential or commercial power, you may need to shop for a new electricity contract soon.

Liberty Power declared bankruptcy on April 21, 2021. While some Liberty Power customers were acquired by NRG, many others are being returned to their utility or to the Provider of Last Resort as of the most recent court decisions in November 2021.

What you need to do depends on what type of customer you are (residential or commercial) and what state you are in. Here’s what you need to know if you’re a Liberty Power customer, and what to do next.

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Sales Tax Exemption in Texas – Cut Your Business Electricity Cost

Your Texas business may qualify for a sales tax exemption on your electricity bill. Any business that uses electricity in their production activities could qualify.

You’ll need an engineering study, called a Predominant Use Study, to prove what percent of your electricity usage goes into production. And you’ll need to file a Form 01-339 Exemption Certificate with the state in order to get the Utility Sales Tax Exemption.

But it’s worth it to save anywhere from 6-8% or more on your business electricity bill. Here’s what you need to know about the Texas Sales Tax Exemption and how to your business can qualify.

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Texas Electricity Trends for 2020

Texas electricity rates in 2019 were relatively flat compared to the prior year. And if you were in a fixed rate contract throughout 2019, you had a secure price. But those who were on a variable rate or a wholesale index rate (i.e. Griddy Energy) had their rate explode in mid August when ERCOT hit a historic usage level.

So what will happen in 2020? It all depends. But indications are that market forces are driving up retail energy prices in the short term, and that long-term contracts might be the way to go this year.

>>Want the latest Texas electricity trends? Here are Texas Electricity Trends for 2021

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How to Find Cheap Power Rates in Texas

Want to know what is the cheapest electricity company in Texas? There’s many ways you can search for it. “Cheap power near me.” “Cheap electricity for my home.” “Best Electricity Plan in <city> Texas.”

Energy rates in Texas vary on location. You’ll need to shop by your zip code and usage level to compare options and find the cheapest power rates. ElectricityPlans is an energy price comparison website that helps you compare energy providers in the Texas market and win at the electricity shopping game.

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The High Risk of Summer 2018 Texas Month to Month Electricity Plans

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.

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What’s Ahead for 2018 Texas Summer Electricity Rates: Supply, Demand, and Reserve Margins

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.

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