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Deregulation has allowed great competition to develop when it comes to the provision of electricity. Texas has become one of the ripest climates for power companies and the idea of offering several types of power has caught steam in the past few years. The greater Fort Worth area now has more than 60 different electrical retailers offering highly competitive rates of power for households as well as commercial and industrial purposes.
While adding the competitive spark to the economy, deregulation is setting the stage for renewable and more efficient electricity. In 2015, Georgetown became the first city in the state to switch to 100% renewable sources of energy to create electricity, with other cities expected to follow suit. It is time that Texas takes the lead in the clean generation of low-cost electricity through their immense capacity in wind-generated energy.
The power of choice making, the consequence of having such hefty competition, is something that the natives of Texas have taken to well. Between 2002 and 2009, an estimated 86% of customers switched power companies or switched plans in their company. Such power in the hands of consumers has made electricity providers more cautious and led to a drop in the rates of power. Fort Worth, for example, has highly competitive rates in all sectors of electricity provision.
The greater Fort Worth area has a very high residential population. They all make the most of the 10.98 cents per kWh rate that runs in Fort Worth. This rate is the same as the Texas state average rate of residential electricity. The national average is at 11.88 cents per kWh, making the rate in Fort Worth 7.58% less than the national average. This is quite a considerable distance in annual cost.
The average electrical consumption of a 1-bedroom apartment is taken to be approximately 750 kWh per month. The average area of a 1-bedroom apartment is 750 square feet. If we multiply the monthly usage with the unit rate of 10.98 cents per kWh, it will give us the monthly expenditure behind powering a 1-bedroom apartment. This comes to $82 on average.
A 2-bedroom apartment is considered to be approximately 1,000 square feet. This is the average surface area while consumption is taken to be 880 kWh per month owing to the increased size. We can arrive at the monthly rate, once again, by factoring in the local cost of electricity in Fort Worth — 10.98 cents/kWh. The monthly rate of electricity for a 2-bedroom apartment is $97.
While houses can be extremely large in Texas, the average size of a house is taken to be 2,000 square feet — double the size of a 2-bedroom apartment. Electrical consumption is also higher than that of an apartment. The average is taken at 1325 kWh per month. At 10.98 cents per kWh in Fort Worth, the monthly cost of powering a house comes to $145.
Commercial Electricity Rates in Fort Worth
Electricity for commercial purposes is available at cheap rates in the Fort Worth area. At 8.16 cents per kWh, the average electrical rate for commercial purposes in Fort Worth is the same as the average electrical rate across the state.
When referring to the national average, the rate of commercial electricity is obviously much lower than the average, thanks to deregulation. The rate is 19.13% lower than the national average that stands at 10.09 cents per kWh. This difference gets pronounced when the electricity is counted on an annual basis, making Texas a cheap state in terms of costs of electrical consumption.
The industrial rate is even more competitive than the commercial rates in Fort Worth. At 5.57 cents per kWh, industrial electricity, as expected, is available at the lowest cost in all sectors. The state average for industrial electricity is the same as the rates that are available in Fort Worth.
In comparison to the rates that are available around the country, industrial electricity is inexpensive in Texas. The range of industrial electricity rates can go from 4 cents per kWh to 31 cents per kWh. The national average rate is at 6.67 cents per kWh, making the Fort Worth rates 16.49% lower than the national average.
These rates make Fort Worth a relatively inexpensive neighborhood when it comes to electrical rates. Deregulation was the impetus that led to fluctuations at first but stabilized to allow great choices to consumers at affordable rates. The next challenge that the state faces is in switching to renewable sources of energy. The moment a synergy between their capacity to harness renewable energy and low electrical rates is visible, the state will certainly make the jump!
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Payless Power wants to be your Texas electric company.
Whether you live in a large city or small town, we can save you money with pay as you go electricity! Where do we provide Texas electricity? We service customers with no deposit electricity in more than 400 deregulated communities in Texas. We work with principal utilities throughout the state of Texas to provide prepaid electricity. The utilities are: Oncor in the Dallas / Fort Worth Metroplex and various parts of West Texas; CenterPoint Energy in Houston and the surrounding areas; AEP Central in Corpus Christi and surrounding areas; AEP North in Abilene and other North Texas communities.