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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Understanding the Sales Tax Exemption in Texas for Cutting Energy Costs

You’ve heard about how Texas supports business growth. Among the many measures in place, certain businesses (as well as select residential communities) don’t have to pay the sales tax on their electricity bill. And any business that uses electricity in its production activities could qualify.

In this article, we’ll help you understand how to qualify for Texas’s sales tax exemption for commercial electricity.

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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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