Considering moving to Texas? Or have you called Texas your home for your whole life? Both native and newly minted Texans should take advantage of the state’s deregulated energy market to maximize their savings on their utilities each month. Payless Power, a leading Texas electricity provider, discusses how deregulation benefits electricity consumers and how you can take advantage of it today.
TEXAS ELECTRICITY RATES: THE POWER TO CHOOSE
Texas’ deregulated electricity market drives down their average rate of electricity, which is 12.8 cents/kWh, or 11.5% cheaper than the U.S. average.. The Texas electric customer can garner serious benefits from this competitive marketplace by understanding their power to choose, knowing their energy usage, and learning about the different types of electricity plans and rates that are available in their area.
TEXAS’ DEREGULATED ELECTRICITY MARKET
One of the biggest benefits of living in Texas is the state’s deregulated electricity market. Texas residents have the power to choose an energy provider from various electricity companies that serve their area, and this competitive marketplace provides an opportunity to save substantially on monthly electricity bills. According to the U.S. Energy Information, energy deregulation has driven Texas residential electricity rates 11.5% lower than the national average and commercial electricity rates are 27% lower than the national average.
Payless Power provides the best energy plans with no deposit in the area. Payless Power helps Texas residents get better retail electricity rates and save money on their average power bill, regardless of income or credit history. As a family-owned energy provider, opposed to a giant energy supplier, Payless Power takes great pride in serving our energy customers with care and respect.
KNOW YOUR MONTHLY ELECTRICITY USAGE
The best way to take advantage of Texas’ deregulated electricity market is to understand your current energy consumption. By looking at previous electricity bills for your Texas household, you will discover if your average monthly usage falls below 500 kWh, 1000 kWh, or 2000 kWh, which are the tiers that retail electricity providers use to determine their rate structure. When you understand your average electricity consumption, you can shop for Texas electricity plans with a more narrow focus, which will help you find the lowest (and most realistic!) Texas electricity rates.
TYPES OF ELECTRICITY PLANS
Whether you are upgrading to a larger home or downsizing to a condo, hoping to save on nights or weekends, or want to prepay for your electricity, there are several plans and rates available to you.
Fixed-Rate Electricity Plans
Get the stability of price protection with a fixed contract term. The customer will have a set electricity rate per kWH for the length of the contract, anywhere from six to 60 months. in Electricity market fluctuations won’t impact the rate for the length of the contract. Since these terms are typically for a longer period of time, credit checks, deposits, and cancellation fees are often included to qualify for these energy rates.
Variable-Rate Electricity Plans
Variable rate, or month-to-month, plans, are best for those who are seeking flexibility. Rates can change month to month depending on the volatility of the electricity market. These short-term plans do not require a contract or cancellation fees. Before choosing a fixed-rate plan, many choose a variable rate for flexibility, but are subject to unpredictable market rate increases.
Green Energy Plans
Renewable energy plans are sometimes included within fixed and variable rates and prepaid electricity plans. These electricity plans give the customer the option to power up their home with energy that is generated from 6-100% of renewable energy resources. Green energy plans are great for those who want to lessen their carbon footprint and have a more positive impact on the environment.
Prepaid Electricity Plans
Prepaid electricity plans, which Payless Power offers, are popular among Texans who want more control and want to avoid a deposit, credit check, contract, and general surprises on their electricity bill each month. Customers choose a plan based on their usage and available rates, then pay in advance for their electricity. Customers are notified throughout the month if they have used up their balance and need to pay more.
Payless Power’s prepaid electricity plans require no deposits or credit checks. Affordable rates are currently offered for six- or 12-month contracts, which is short compared to many companies who require lengthy contracts and hefty cancellation fees. You can have the stability of a fixed rate, prepaid plan without being trapped into a long contract.
POWER TO CHOOSE: AN OFFICIAL TEXAS RESOURCE
Once you understand your level of energy consumption and the different plans you can choose from, it is time to start comparing Texas electricity rates. After lawmakers deregulated the Texas electricity market, they understood that they needed to bridge the gap between the understanding and capability of customers who wish to switch electricity providers, so they created Power to Choose as a resource. Power to Choose is the state of Texas’ official electric choice website. It is operated by the Texas Public Utility Commission and is the site most commonly listed within the state’s local county and township pages as a tool for finding an electricity provider. The site is a resource meant to enable Texas residents to find and compare electric plans on an unbiased platform to allow them to pick the one that works best for them.
HOW TO SWITCH ELECTRICITY COMPANIES
To change your electric provider, begin by going online to a third-party energy rates comparison website. There, enter your zip code to find out what power companies service your area. You will then be able to compare a variety of electricity rates and plans that have differing terms (like month-to-month, 12 months, and 24 months) or promotional offers (such as free weekends or no credit checks). Make sure you read all the fine print of the electricity plans you are comparing to avoid any hidden fees or terms. After you have decided on the best electricity plan for your household, , sign up directly on the provider’s website or over the phone. Ultimately, switching electricity companies is a very simple, quick and easy process.
GET LOWER TEXAS ELECTRIC RATES TODAY
In Texas, you have the power to choose which Texas electricity company powers your home. In the competitive deregulated electricity marketplace, make sure you periodically review the electricity rates in Texas to make sure you are getting the lowest rate and saving every month!
