Energy Plan Types Available in Texas

When you are looking for an energy plan for your home, you will find that there are two basic plan types to choose from. These plans are fixed-rate and variable-rate plans. As a Texas resident, you have the Power to Choose energy plans for your home. Each of these options is unique and they both have something different to offer. Once you know what kind of energy plan you are looking for, you can decide on a specific plan for your home.

Fixed-Rate Plans

With a fixed-rate energy plan, you will benefit from a set, locked-in rate, and a set contract. You will be able to search for a plan and choose an option with the lowest rates and the best plan benefits. You will also have the opportunity to choose a plan with a contract length that works well for you and your needs. For example, if you need a more short-term option, you may decide on a contract that is about 1 or 3 months long. If you need a more long-term option, however, there are plans available that range up to about 1 or 3 years. A fixed-rate plan is a perfect solution if you are looking for plenty of stability, security, and predictability.

Variable-Rate Plans

If a fixed-rate plan does not seem like the right option for you, you may decide to go with a variable-rate plan. With this option, you will not have a set rate or a set contract. Instead, your rates will fluctuate each month. This means that you will be able to benefit from lower rates during certain times in the year, but you will risk paying more when the energy market spikes. With no contract, you will be able to cancel or change your plan at any time without worrying about any extra fees. This type of plan functions best as a more short-term option and is great for anyone looking to take a risk with their electricity.