Best Electricity Rates in Texas
Electricity rates in Texas are as unpredictable as the weather. Ironically, the weather is one of the most significant factors influencing how much you will pay for your electricity. Finding the best rate for your circumstances is very difficult. There are several factors to consider when conducting your search and thousands of plans to sift through. The best way to find the best electricity rates in Texas is by using EnerGenie. In this article, we’ll discuss why EnerGenie is your best option and what makes finding the best rates so tricky.
How to Find the Best Electricity Rates Near You
Finding the best electricity rates in your area is extremely difficult. There are hundreds of REPs or Retail Electric Providers in the state of Texas, and there are thousands of different plans to choose from. Because Texas is a state with deregulated energy, most Texans have the opportunity to select which REP to go through. Deregulation has made the field of electrical supply extremely competitive and confusing.
Figure Out How Much Electricity You Typically Use
One of the first things you should do when figuring out the best rate for you is to determine your needs. Most plans will have levels of usage built into their pricing scheme. The first 1,000 kWh might cost 10 cents per kWh, and the next thousand kWh might cost 15 kWh per hour. It’s tempting to go with this plan because of the low cost of 1,000 kWh per hour.
However, if you happen to use over 1,000 kWh per hour, it’s going to cost you dearly. You don’t pay 10 cents for the first 1,000 kWh and then 15 cents for anything over that amount. You pay 15 cents for every kWh that you use for that allotted month. This is something that electrical companies don’t advertise, and you’ll need to read the fine print.
Another scenario is that some companies reduce the cost of their electricity the more you use it. In other words, the first 500 kWh costs 18 cents, the first 1,000 kWh costs 13 cents, and up to 1,500 kWh costs 10 cents. The only price you’ll see listed is the one based on 1,000 kWh per hour, which is 13 cents.
You might think that you can save money by using your electricity sparingly, but this isn’t the case. If you use less than 1,000 kWh per month, you’ll end up spending 18 cents per kWh. If you use between 1,000 and 1,500 kWh per month, you’ll pay 13 cents, and using over 1,500 kWh will cost you 10 cents per kWh. Companies do this to ensure that they make money on you no matter how much electricity you use.
Take the Age and Size of Your Home Into Account
After taking your energy usage into account, also take your home into account. Older houses with poor insulation typically use more electricity than newer houses. You can find the age and condition of your home on the purchase agreement that you signed when you bought it. If you’re renting, you should have access to that same information, which will help you in your electrical company decision.
Know What Kind of Plan Your Signing Up For
Most power companies offer a variety of different plans with different pros and cons. The kind you choose is entirely up to you, but keep in mind that it could determine what you pay per month. Here are some of the most common types of electrical plans.
Fixed rate plans
With a fixed-rate plan, the amount you pay per month doesn’t change. If you sign up to pay 10 cents per kWh, then that’s what you’ll pay month after month. Keep in mind that depending on how your contract is structured, this number will likely increase after an allotted period of time.
Variable rate plans
Just as with the housing market, where interest rates fluctuate, electrical rates fluctuate as well. With a variable rate plan, you’ll pay whatever the current cost of electricity is. Some months you might only pay 5 cents per kWh, while other months, you might pay 15 cents per kWh or more.
Prepaid plans with electricity are similar to prepaid phone plans. You determine how much energy you plan to use and pay for that amount at the start of the month.
What Makes a Rate the Best Rate?
Sometimes, finding the best rate isn’t the same as finding the cheapest rate. As previously mentioned, rates are tricky when it comes to picking the cheapest one. Rates are subject to change based on how your contract is structured, and millions of people end up paying more than they expected on their electric bills.
The better option is to Contact Us at EnerGenie and let us find the best rate for you. However, if you’re determined to find a rate by yourself, there are some ways to narrow down your search.
- Check online, and Google reviews to determine which companies are trustworthy, transparent, and honest.
- Ask your neighbors who their providers are and if they’re happy with their service.
- Make sure that the provider you choose is available in your city or region.
What is the Best Way to Compare Rates?
Comparing electricity rates is time-consuming and hard work. Hours and hours of research and comparing notes is the only way to find the best rate, and even then, you’ll have to monitor your plan for unexpected changes.
EnerGenie does all of the research and hard work for you. We utilize a series of algorithms based on your location, needs, and desires and find the best plans for you. We turn hours of research into a few minutes. Once you know which company and plan you want to go with, we’ll even contact the company and initiate the plan for you.
EnerGenie even keeps an eye on your plan to ensure that you don’t fall victim to unexpected fees and price changes. You can rest easy when you contact us and entrust EnerGenie with finding the perfect plan for you.
Save on your electricity bill with EnerGenie
How EnerGenie Works
EnerGenie technology works behind the scenes to save you money and be your energy concierge, to give you, the homeowner, peace of mind.
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