North Texas is the fastest growing area in the United States. With a competitive housing market and deregulated energy market, the lone star state is quickly climbing the ranks as incentives to those looking to move here get better and better.
The saying “everything is bigger in Texas” is especially true when it comes to its widely competitive electricity market. Texas participates in deregulated energy, meaning that the recent law allows consumers to choose who they buy their power from – just like you can choose your cell phone or cable provider. Talk about choices!
Naturally, this has caused energy providers to offer more economical incentives in hopes of earning your business. This is good news, but best serves residents who are educated on what specific terms and specifications mean for their service.
Before choosing which provider to go with, consider what plans may be best for you and your usage.
Fixed rate plans fixed are unchanging bill plans that will come in at a regular and predetermined rate. With this plan, you can expect the same charges month-to-month no matter the usage (more or less). This may not include, however, any transmission usage or other fees to get service to your home. This is best to further discuss when interviewing various providers. You don’t want any surprises when your bill comes in higher than expected.
Flexible or Variable Rate plans
Unlike a fixed rate plan, variable rate plans will change monthly. Depending upon many aspects including usage, weather, overall energy costs and more. With a variable rate, you are subject to these discrepancies as they happen. Sometimes resulting in lower bills than anticipated, and sometimes, higher. Because of a significant rise in temperatures this summer (record-breaking, even), a variable plan may not be the most ideal as prices are subject to increase during these heat waves.
Renewable energy rate plans
There are also options to invest in renewable energy. There are several providers who offer energy-saving opportunities, incentives and green programs to help you save on your utility bill while saving the planet.
Term rate plans
Texas is going through a huge population boom. Thus it isn’t surprising that many energy and electricity providers will be offering multiple incentives and seemingly beneficial programs at introductory rates. With little time to decide, a term rate plan may be a good fit. Ranging flexibly from three months to years, a consumer can choose to temporarily stay with a provider for a specific duration. This then opens them back up to the marketplace upon completion of the term to take advantage of any new offers that are more appropriate for their needs and budget.
Your energy provider should be affordable, reputable, honest, transparent, and above all, customer centric. At Energy Outlet, we help match you with an electric company in your area that fits your needs.