How to Texas Compare Energy Rates
Since 2002, several Texas residents have had the opportunity to benefit from living in a deregulated energy market. Instead of relying on government-controlled utility monopolies, the majority of Texans can choose from countless retail electric providers (REPs) in over 400 cities. Texas energy consumers have the power to compare electricity and natural gas providers and plans in order to find the lowest rates available for their lifestyle in their area. With such a wide breadth of local utility providers, residential energy plans, and electricity rates available in Texas, how do energy consumers decide which electric service is the best option for them? Learn about Payless Power’s tips for how to compare energy rates below.
COMPARING ENERGY RATES IN TEXAS – 5 Tips
When comparing Texas energy rates for your home, the first thing you should do is head over to a third party electricity comparison website and enter your zip code to see what energy plans and electricity rates you can choose from. Throughout the electricity comparison process, make sure you read customer reviews of the energy supplier and understand the different types of electric plans, terms lengths, and if a utility deposit is required to get a full understanding of the electricity price. Here are five tips for comparing energy rates.
1. UTILIZE ENERGY COMPARISON WEBSITES
Comparing different energy providers, plans, and rates is quite a simple process. Find a third party electricity comparison website through a straightforward Google search and enter your zip code to find out what utility service options are available in your residential area. The site will show a variety of energy plans and electric rates to choose from, as well as an in-depth look at certain larger energy providers. On a utility comparison website, you can filter by electric rate, length of contract, payments options and more, ensuring that you can make an informed and easy decision from the start.
2. RESEARCH THE REPUTATION OF TEXAS ENERGY PROVIDERS
Once you’ve narrowed it down to a few preferred electric companies, you should search the provider’s names online to read customer 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 make sure that you are on the lookout for scams and rip-offs. Additionally, deregulated energy market’s drive a lot of competition between energy providers, often resulting in excellent customer service, so that should certainly not be compromised for a seemingly low electricity rate! Comb through some reviews on your short list of energy companies to see how responsive and reliable they are to their current customers.
3. UNDERSTAND FIXED VS. VARIABLE ELECTRICITY RATES
As you research and compare Texas electricity plans and energy rates, pay close attention to if you’re looking at fixed or variable rates to get an idea of the payment plan and what will work for your budget. Traditional postpaid energy plans allow 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 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 customers that need more flexibility in their payment plans.
4. HOW TO AVOID AN ELECTRICITY DEPOSIT
One of the fees that people forget to account for when budgeting for their electricity 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 electricity for customers who cannot afford to pay a deposit up to 2x their monthly bill, or first time renters or homeowners who haven’t established a history of timely payments. These customers should look for prepaid energy plans that do not require a credit check or deposit and offer flexible month-to-month payments at a low rate.
5. READ YOUR ENERGY CONTRACT BEFORE YOU SIGN
Skimming over the fine print of a residential 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 energy supplier. 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 energy service, you may have found yourself a deal for your home.
COMPARE ELECTRICITY RATES AND SAVE MONEY ON YOUR ELECTRICITY TODAY!
Comparing Texas energy plans for your home doesn’t have to be overwhelming. As long as you are happy with the utility company’s customer service, understand the term length, the type of 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 find a low price of energy that suits your residential lifestyle today!