Many Texas residents have benefited from affordable electric service because they live in a deregulated energy market. Instead of relying on government-controlled utility monopolies, many Texans have the power to choose from a variety of Texas retail electric providers (REPs) in over 400 cities. Texas electric consumers can compare energy and natural gas providers and plans in order to find the lowest electric rates available in their area. With such a wide breadth of Texas retail energy providers, energy plans, and electricity rates to choose from, how do consumers decide which electric service is the best option for them? Learn about Payless Power’s tips for how to compare Texas retail electric providers and get the most affordable electricity today.
5 Tips for Comparing Texas Retail Electric Providers
When comparing Texas retail electricity providers and electricity rates for your home or business, the first thing you should do is head over to a third party energy comparison website and enter your zip code to see what energy plans and electric rates you can choose from. Throughout the retail electricity provider comparison process, make sure you read customer reviews of the electricity providers and understand the different types of energy plans, terms lengths, and if a utility deposit is required to get a full understanding of the electricity price. Here are five tips for finding Texas retail electric providers, energy plans and electricity rates in your area.
1. Utilize Texas Retail Electric Provider Comparison Websites
Comparing different Texas retail energy providers, plans and rates to find the most affordable option is quite a simple process. Find a third party energy comparison website through a straightforward Google search and enter your zip code to find out what utility service options are available in your area. The site will show a variety of energy plans and electricity rates to choose from, as well as an in-depth look at certain larger Texas retail energy providers. On a utility comparison website, you can filter by electric rate, length of contract, payment options and more, ensuring that you can make an informed and easy decision from the start.
2. Research the Reputation of Texas Retail Electricity Providers
Once you’ve narrowed it down to a few preferred electric companies, you should search the energy provider’s names online to read customer service reviews for both positive feedback and red flags. Remember, just because a utility company is promoting a very low rate does not mean that they are trustworthy, so many sure that you are on the lookout for scams and rip-offs. Additionally, deregulated electricity market’s drive a lot of competition between electricity companies, often resulting in excellent customer service, so that should certainly not be compromised for a seemingly low energy rate! Comb through some customer service reviews on your short list of electric companies to see how responsive and reliable they are to their current Texas customers.
3. Understand Fixed vs. Variable Electricity Rates
As you research and compare Texas energy plans and electric rates, pay close attention to if you’re looking at fixed or variable electric rates to get an idea of the payment plan and what will work for your budget. Traditional postpaid energy plans allow Texas customers to lock into a fixed rate for a short or long term length, providing reassurance that customers will pay the same amount per kilowatt-hour for the duration of their energy contract. With this plan, you pay for the amount of energy used at the end of every month. Variable or indexed rate change every month as the market fluctuates (in the same vein as gas prices) and are commonly seen on month-to-month or prepaid energy plans, serving Texas customers that need more flexibility in their payment plans.
4. How to Avoid a Texas Energy Deposit
One of the fees that people forget to account for when budgeting for their utility service is the deposit. Most traditional postpaid electric plans require a deposit to protect themselves against customers with poor credit, a bad history of not making payments on time, and who are high-risk for defaulting on their monthly electric bills. However, this can be a high barrier to entry for Texas customers who cannot afford to pay a deposit up to 2x their monthly energy bill, or first time renters or homeowners who haven’t established a history of timely payments. These Texas customers should look for prepaid electric plans that do not require a credit check or deposit and offer flexible month-to-month payments at an affordable energy rate.
5. Read Your Texas Electric Contract Before You Sign
Skimming over the fine print of an energy contract is easy to do when you need electric service immediately, but it pays to take the time to read all contract terms before signing up with your new Texas retail electricity provider. You’ll want to make sure that the wording on the contract isn’t too small to read (a major red flag), and that all language is clear and not laden with complications that could lead to hidden fees upon signing or in the future. Furthermore, you may want to check with a live customer representative to guide you through the final details of the agreement. Are they friendly and easy to understand? If you feel secure in the price and in control of your Texas utility service, you may have found yourself a deal for your home.
Compare Texas Retail Electric Providers Today!
Having the power to choose between several Texas retail electricity providers and comparing electricity plans for your home doesn’t have to be an overwhelming process. As long as you are happy with the utility company’s customer service, understand the term length, the type of energy rate that you are looking at and the deposit and credit check requirements, then you will be good to go. Simply follow the tips above to compare retail electric providers and find an affordable Texas energy rate that suits your lifestyle today!
