Texas household and business energy consumers believe that they are entitled to the lowest rate when purchasing electricity in the open marketplace. Since the deregulation of energy over a decade ago, it has been easy to compare electricity rates for homes and businesses all across the state of Texas. Many residents of Dallas, Houston, Austin, San Antonio, and Corpus Christi along with those that live in rural areas have the power to choose from the wide array of electricity providers.
Before 2002, there was a monopoly on Texas electricity, which was controlled by state regulators. Businesses and households all across the state could only have electricity delivered from one single source, their local utility company. Since deregulation, two of the three phases of delivering electricity is now managed by competitive energy providers. It is only the distribution, or sending electricity from the transmission lines to the electric meter that is still the responsibility of the local utility company.
Competitive Retail Prices
Energy consumers now have the ability to select from a wide array of electricity providers to purchase their energy in a retail market. Through competition, numerous providers offer rates that are significantly lower than the traditional rates offered by the local utility company. In addition to receiving low monthly rates, the consumer avoids unnecessary customer fees, while being offered premium customer service and payment options that are extremely convenient.
Freezing the Rate
There are numerous options available for every household or business, when attempting to compare electricity rates. Numerous energy providers offer a variety of options including fixed rates, where the energy consumer can freeze or lock-in a price for a period of time that ranges from just a few months, up to two years or longer. Usually, this requires signing a contract, and paying cancellation fees, if the consumer backs out of the contract too early.
Alternatively, when comparing electricity prices, it is important to understand that variable rates are also available. This is based on a floating rate that stays equal to the market, which rises and falls based on a variety of conditions.
The consumer should compare electricity rates, when seeking low prices and long-term plans, to save money every month on their utilities.
Texas energy deregulation has brought beneficial options for businesses and residential homes. With an easy and effective comparison of electric rates, Texas consumers can save significant amount on monthly their power utility costs.