Before you switch providers, you’ll need to determine whether you’re under a contract with your current provider, and if so, how long you have left on your contract. You can usually find this information by looking at your electricity bill or by calling your energy provider. If you choose to switch before your contract is up, your current contract may outline an early termination fee. However, according to the Cheapest Electricity Rates of Texas, customers can switch providers without paying an early termination fee if they schedule the switch no earlier than 14 days before their current plan expires. When you change providers, you’ll be able to indicate the date you want the switch to occur.
On the one hand, long-term, fixed-rate (contract) plans offer stability in pricing. If energy supply costs suddenly go up in your area, you won’t be left paying more than what you bargained for. You’ll have peace-of-mind. If you want to switch out of your contract before it ends with a lower cost plan, you’ll likely face a cancellation fee (early termination fee).
In Houston, 0% of people have switched to a plan that has some renewable energy component to it. Another 0% have switched to a plan that is partially renewable, while 0% have switched to a plan that powers homes completely by renewable electricity. This of course means that 100% of people have remained on a plan powered by traditional sources of electricity such as coal or nuclear power.
Residents and business owners have been able to shop Texas electricity supply rates for more than a decade. When Texans gained the ability to choose their desired energy company in 2002, the electric industry divided into two parts: supply and delivery. Retail energy companies in Texas compete for business, offering a variety of term agreements and supply rates for consumers to choose from.
Fixed-rate supply plans offer price-protected supply rates for the length of a term agreement. The price per kilowatt hour (kWh) will remain the same throughout your term, even if the market price fluctuates. A fixed-rate supply plan can range from three months to five years, so it’s important to find the term length that works best for your situation.
Are you an energy consumer located in Garland, Texas? Electricity supply plans at competitive rates are offered in your ZIP code if you take the time to research them. For about 14 years, the Texas electricity market has been deregulated, providing the majority of state residents and business owners with electric choice. As a resident or business owner in Garland, you can enjoy all the city has to offer. Shop among competitive energy companies, visit local shops and restaurants downtown or spend a day at Rowlett Creek Preserve. No matter what you do, just remember you have a variety of options.
Variable-rate supply plans, as the name suggests, have a rate that varies based on the market price of electricity. Seasonal and market fluctuations can affect supply rates. While variable-rate supply plans can allow you to take advantage of market-price lows, there is the possibility of paying for high supply rates when demand is at its peak. These plans offer great flexibility.
When you look at the rates provided by a company - whether on a site like Electricity Prices, Compare Electricity Companies, Compare Electricity Rates, or the company's specific website - you should first determine if the rate you are seeing in an average rate based upon a certain number of kilowatt hours (kWh) used in a billing cycle or it's simply the rate, regardless of usage. It is important to view the Electricity Facts Label (EFL) for the plans you like so that you can learn if the plan is fixed-rate or variable-rate, what you are being charged for energy by the company, what surcharges you will be assessed by the utility company for your area, and what other fees the company might assess. If you're not careful, the cheap Texas electricity you think you found might cost you more than you realize.
The threat of price spikes have been long in the making, the result of changing economics of power production. The shale drilling boom produced record amounts of natural gas, which pushed prices to all-time lows and made gas-fired plants cheaper to operate than coal. Renewable energy such as wind is also producing abundant amounts of electricity at a lower cost than coal.
Texas Electric Choice is the power given to Texans to choose their own Retail Electric Provider. Who has the Power to Choose in Texas? Well, about 75% of the state of Texas has the power to choose their electric company, when before a single electricity provider controlled and managed the transmission, distribution and sale of electricity to residential and commercial locations. The deregulation of Texas Electricity became effective on January 1, 2002 and now offers Texans the ability to shop and compare electricity providers in their area to find the best deals and service.
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