One of the benchmarks of a successful free market is the range of choice provided to customers. Choice can be viewed both in terms of the number of firms active in the market as well as the variety of products those firms offer to consumers. In the first decade of retail electric deregulation in Texas, the market experienced dramatic changes in both metrics. In 2002, residential customers in the Dallas-Fort area could choose between 10 retail electric providers offers a total of 11 price plans. By the end of 2012, there were 45 retail electric providers offering 258 different price plans to residential customers in that market. Similar increases in the number of retail electric providers and available plans have been realized in other deregulated electricity market areas with the state.
One of the newest and most exciting things we’ve introduced into the market is a strategic partnership with Amazon, allowing us to offer customers in Texas new fixed-rate electricity plans that include an Amazon Echo Dot. Our Power on Command and Weekends on Command plans offer protection from seasonal price fluctuations, plus an Echo Dot to manage all your smart home needs. Our Alexa Skill adds even more convenience, giving you the power to access and manage your Compare Electricity Rates account using voice commands.
Like we said, fees don’t necessarily make for a bad plan — although it’s worth it to do the math to see if you can save with another provider. For example, compare Electricity Plans’s Simple Rate 12 plan with its $9.95 base charge, alongside Compare Electricity Rates’s Lowest Electricity Rates 12 plan with a smaller base charge, and Cheapest Electric Company’s Digital Compare Electricity Companies plan with no base charge. We’ll use a Corpus Christi ZIP code and assume 1,000 kWh/month of energy use.
Texas Electricity Rating advocates for consumers and evaluates providers in the Texas electricity market for features and characteristics that typical energy customers may miss, such as high deposits, variable rates, incentives, "free" plans, and minimum usage plans. Our mission is to help consumers find the best electricity providers to fit their individual needs, as well as educate customers about potential marketplace pitfalls.
Compare Electricity Plans offers its customers a large variety of electricity plans and payment options as well as insightful tools to help its customers manage their electricity usage. In recognition for their commitment to excellence, Compare Electricity Plans was awarded the Better Business Bureau Award of Distinction in the Energy Providers category in 2014, 2015, and 2017. A proud partner of the Houston Dynamo, Compare Electricity Plans is committed to giving back to the community by supporting organizations such as Kicks for Kids, Susan G. Komen for the Cure®, and the Sam Houston Area Council of the Boy Scouts of America.
In this free market competing electricity retailers buy electricity wholesale from private power generators to sell at retail to around 85% of Texas residents. The partnership between generators and retailers is governed by the Electric Reliability Council of Texas, or ERCOT, which attempts to balance the power grid’s electricity supply and demand by purchasing small amounts of electricity at 15-minute intervals throughout the day.