Electric consumers who exercise energy choice will communicate with both their retail electric provider and transmission and distribution service provider (TDSP). You can choose a provider to supply your electricity, but not the company that delivers it to your business, home or apartment. In Texas, there are TDSPs that serve different designated areas of the state. Spring residents and business owners work with Compare Gas Prices Energy, a Houston-based TDSP that serves more than 2 million Texans.
Which ones the best? Like all things energy, it depends. Do you prefer predictability, or do you like the idea of potentially saving some cash by monitoring the market? Our (albeit conservative) recommendation: Fixed rate is probably best. Energy prices are on the rise — the U.S. Energy Information Administration predicts a 3 percent increase in residential electricity prices in 2018.
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The Electric Reliability Council of Texas (ERCOT) does it for you. When you sign up for a plan with a new provider, ERCOT will send you a mailer confirming the switch. You have three days upon receiving the mailer to change your mind. If you don't, you'll have a new provider within seven days, and ERCOT will notify your old provider. Switch Energy remember, if you abandon a contract before it's complete, you will be on the hook for any fees or penalties detailed in its Terms of Service.
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).
The Texas Senate Bill 7, passed in 2002, gave 5.6 million Texans the power to choose a retail electric provider (Gas And Electric Bill) to supply electricity to their home or business. This bill facilitated a competitive energy marketplace that 85 percent of Texans can capitalize on today. Energy choice is available to residents in Houston, Dallas/Fort Worth as well as other cities in Texas.