Since the deregulation of the electricity market in Texas, rates have gone down significantly as consumers got the freedom to choose from the numerous electricity retailers that emerged as a result. There are a variety of not only companies, but also plans that you can choose from to get the most affordable rate for your needs. These plans include fixed and variable rates. As for the companies, there are hundreds of companies competing for your business. That means that the power to choose is in your hands. Before we check out on these companies and their rates, it is important that you understand the difference between a fixed and variable rate.
Fixed or Locked-in Contracts
Fixed or locked-in contracts are those that take about 12 to 36 months. As the consumer, you identify a favorable price and lock-in on that price for your preferred period. If you happen to get a low price, you will pay your electricity at that rate for the period locked whether the rates go up or down. Such contracts are for those looking for stability and are avoiding the variable rates. You can even pay a one time fee and just sit back and enjoy it. However, if for any reason you want to switch to a lower rate before your current contract expires, you will have to pay a cancellation fee.
Variable or Month-to-Month
Month-to-month or no contract rates are those in which you pay monthly bills, or buy tokens and spend only that which you consume at any particular time. With such a contract, you can cancel at any time if you find a better deal and you will not pay any cancellation fee. The good thing with the variable plan is that you can always switch to a better deal if available, but on the downside, when the rates go up, you will also have to contend with the higher rates as the fixed contract customer pays their locked rate.
Having known that, you should also know that these companies give promotions from time to time. These promotions can go a long way at reducing your electricity bill. Since there are so many companies at your disposal, it is imperative that you carry out some research to determine those that have the best rates, with attractive discounts and without hidden charges. Before you get to choosing, you should know your average monthly consumption, and then compare that with the available plans to determine the best plan for you. Keep in mind that each plan comes with a different calculation, so if you are not careful, you might end up paying more than you are supposed to pay. Here are some of the best electricity promotions in Texas.
No Deposit Plans
As you determine whether to take variable or fixed rate contracts, it is important that you also consider no-deposit plans to further lower the cost you pay for your electricity. Energy providers set a particular credit threshold that your credit score ought to be at par. If your credit score is below it, then you will be forced to pay a deposit before you can receive any service. There are, however, select energy companies that do not require checking your credit rating and not ask for deposits. Shop around for such before settling on any plan.
Payless Power is by far one of the best energy providers in Texas and their good reviews from satisfied clients can attest to this. They offer prepaid plans for the residents of Texas which are not based on deposits or credit checks. The good thing about Payless Power is that they go out of their way to provide great electricity supply at an affordable rate to their clients. Their payment plans are also very flexible. They have numerous promotions which consist of coupons and promo codes. Check out some of the promotions they are running on their website.
According to clients’ reviews, this company is among the top in terms of services and promotions. In terms of plans, the company has an attractive fixed rate contract it calls Generous Saver 36. This fixed rate plan locks your payment for 36 months or three years. This plan is available to Dallas/Fort worth and Houston areas only. With it, you can get $25 bill credit when you reach usage of 1,000 kWh. With this plan, if you live in Dallas, you will be paying an average of 10.1 cents per kWh and those in Houston will be paying 11.5 cents per kWh. In addition to their attractive rates, Change Energy also donates 4% of all their annual profits to charities.
Direct energy is among the largest retail electricity providers in North America. They sell electricity and also provide home services in all the 50 states in the United States (U.S) and about 10 provinces in Canada. They have numerous plans and promotions that you can choose from to lower your energy bills. You can go for the Power on Command 24 if you prefer a long term fixed plan. With this contact, you can lock-in a favorable price for 24 months. They also have Echo Dot. That you get when you reach 1,000 kWh usage, where you pay 12.0 cents per kWh. Keep in mind though that for the fixed rate, there is a $135 early cancellation fee. Anyone in Texas, irrespective of their location can access the services of this company.
Champion Energy Services
Champion Energy is a growing company with some attractive rates and plans. It has consistently provided quality service hence its popularity with Texas residents. The best plan they have as of the moment is the Champ Saver-24. With this plan, you can lock-in a good price for two years or 24 months. If you live in Houston, you can pay an average rate of 10.6 cents per kWh if you are using an average of 1,000 kWh. The company, however, has a high cancellation rate. If you decide to go for this plan, ensure you can use it to its expiry; otherwise you will be bound to pay up to $250 for early cancellation.
Power Express is one of the most reputable retail electricity companies in Texas. In addition to offering affordable plans, they are very transparent with their pricing mechanism. If you have an issue that you want solved, they will do so in less than 48 hours and they have excellent customer service. Among their plans, the #Mandarin12 plan promotion is one of the best. With this plan, you can have a fixed rate contract for 12 months or one year. It is available to customers in Dallas/Fort Worth and Houston Areas. Customers in Houston pay an average of 12.6 and 13.4 cents per kWh, while those in Dallas pay an average of 12.1 to 12.6 cents per kWh. Power express electricity prices are remarkably stable since they do not, like many retail companies have hidden fees.
Tara Energy offers just one fixed rate plan called Tara Web -24. With this offer, you get to pay your bills at the same rate irrespective of the amount of electricity you spend. As of the moment, clients are paying 13 cents per kWh. You will not have to incur any monthly charge, so you can easily budget your consumption especially if you are a heavy consumer. In addition to this, the company is known for excellent customer service and transparency. Keep in mind though that you will pay $175 in case of early cancellation.
Just Energy has a range of offers for Texas residents. First, they have fixed plan rates of up to 24 months, so if you are looking to lock-in at a favorable rate, you can do so with these plans. Their night’s free plan offer comes inclusive of these rates whereby you get to enjoy free electricity during the night from 9 pm to 7 am. They also have a Base Saver III in which you can pay as low as 7.6 cents per kWh on average. The weekend free plan is another offer that will have you enjoying your weekends with family and friends. If you switch to this plan, you get energy credits on the bill you pay from 7 pm on Friday to 11.59 pm on Sunday.
TX Express Energy
TX Express Energy is one of the many retail electricity providers in Texas. This company is known for its good customer service, transparency, and low rates. They have a variety of fixed and variable or month-to-month plan options. You can get their offer of a fixed rate plan for 12 months, in which you will be paying $0.050 per kWh for the entire 12 months.
First Choice Energy
First Choice Energy has a range of plans and some promotions. They have 36, 24, and 12 months fixed rate plans that consumers can select from. In these plans, you pay a competitive rate that you lock-in at the moment of signing for the contract. They have a promotion called “You Got This24” that is a 12-month fixed rate contract in which you will be getting free electricity at night from 9 pm to 7 am. The promo runs for the entire time you will be under this plan.
Reliant Energy is a REP Company with several affordable rates and contracts. It has contracts for both long and short electricity consumers. As part of the large NRG Energy, Inc, Reliant promises you subsidized rates to help you save as much in energy costs. You will find very attractive fixed and variable rates contracts giving you freedom to choose your preferred billing method based on your consumption needs. Inclusive in a variety of their plans are truly free weekend and truly free nights promotions where you get to consume electricity free of charge either on weekends or at night depending on the plan you choose.
Gexa energy has been serving both commercial and residential customers in Texas since 2002. It is among the few companies in this state that provide 100% green plans for their residential customers. It also features several affordable energy plans that clients have been enjoying for a long time. They have several 12, 24 and 36 Gexa Saver energy plans that you can lock-in to pay as low $0.056 per kWh. You can always check their site and choose from their energy saver plans that they have on offer and lock-in on your preferred rate.
If you are an environmental conscious person, Iberdrola Texas is the retail electricity company that you should get your energy plans from. This company is based in Houston and supplies 100% renewable energy to its clients drawn from wind power. Being part of the larger Iberdrola group, one of the largest retail electricity providers and utility companies in Texas and in the world, Iberdrola has a range of clean energy promotions for all your needs. They serve the entire Texas state so you can get their plans irrespective of where you live. Their Wind By TX plan is a 36 months long contract that clients pay an average of $0.114 per kWh. You can check that out on their site.
There are numerous other offers and promotions from the hundreds of companies that sell electricity in Texas. If you take time to go through the information most of them provide on their websites, you will end up with a very cost effective and reliable plan.