Electricity Plan Options

When looking for an energy plan, you will find that there are two options to choose from. These options are fixed-rate and variable-rate energy plans. Be sure to compare these options to decide which is the best solution for you and your home.

Fixed-Rate Plans

A fixed-rate plan offers energy consumers a set energy price for the entire period of their contract. These contracts often have a duration of one or two years and typically guarantee energy rates will not increase during that period. Customers with fixed-rate energy plans pay energy costs in advance for an established term, without the risk of fluctuating energy prices.

Locking in energy rates can help customers control their electricity costs and ensure they are paying competitive prices for electricity as well as keeping pace with inflation to some extent; however if energy prices plummet a fixed-rate plan may prove costly to maintain. Negotiating this added cost into your budget is important before signing a long-term agreement such as one offered by most fixed-rate energy plans.

Variable-Rate Plans

With a variable energy plan, you will pay energy rates based upon fluctuating market energy costs. Variable energy rates can vary month to month and can increase or decrease without any notice from your energy provider or the utility company. These rising energy prices can cause a significant increase in your electricity costs if you’re not careful but shopping around for different energy options may help you find more affordable rates. Also, check with your utility company for energy conservation tips to help reduce energy usage and energy costs.

Green Energy Plans

When energy consumers switch their energy provider to one of these green energy providers, they are supporting renewable energy and helping to reduce greenhouse gas emissions. Green energy plans typically require a long-term contract to sign up for. They also include “green pricing” meaning that an energy conservation credit is based on the production of clean energy from sources such as wind or solar power instead of on electricity usage.

Green energy plans help energy customers decrease their carbon footprints while also reducing the amount of pollutants they are releasing into the atmosphere which will ultimately benefit the environment. Customers can take pride in knowing that when they purchase a green energy product or green energy plan they are helping ensure future generations have clean energy sources available to them.

Energy Deregulation in Texas

Texas has a deregulated energy market, which means that there are multiple providers of electricity and natural gas. This gives consumers the power to choose their energy provider, which can result in lower energy costs. Energy deregulation has provided competition in the energy market. Energy providers are competing for your business with lower rates, better plans, and excellent customer service!

Deregulation allows you to have more choice in your electricity and natural gas supply rates. In a deregulated energy market, there are no set utility company rates that everyone pays. Deregulated suppliers compete with each other on price, allowing you to choose the best energy plan for your needs.

Power to Choose

Power to Choose is an online resource designed to serve Texas residents. The platform allows users to quickly and easily compare the top electricity plans and providers in their area. This allows users to be able to quickly pick out the best options with the lowest rates. The Power to Choose platform operates similarly to the Energy Outlet platform.

Energy Plans For Your Business in Addison

In addition to choosing the right type of plan, you also need to decide what kind of provider you want to work with. In Texas, businesses have the choice of working with a regulated provider or an unregulated provider. A regulated provider is a company that is overseen by the state and must follow all of the state’s regulations. An unregulated provider is a company that is not overseen by the state and can do whatever it wants (including increasing rates without warning). 

The best way to find out which providers are available in your area is to use Energy Outlet’s Provider Search tool. This tool will show you all of the providers in your ZIP code and give you information about their rates, plans, and customer satisfaction ratings.

Frequently Asked Questions

What are the best electricity providers in Addison?

Because of energy deregulation, there are a number of retail energy providers to choose from in Addison. Some providers you can check out are Pulse Power, Reliant, Frontier Utilities, 4Change Energy, Cirro Energy, Tara Energy, Green Mountain Energy, and a lot more. It would be tough for us to decide who’s the best since it would depend on your usage, preferences, and budget. Check out the energy plans offered by these providers to find the right fit for your needs.

What is energy deregulation and why is it beneficial?

Energy deregulation involves changing the current energy market to allow different retail energy providers to sell power to consumers. Although most of the power in Addison comes from a single transmission utility, Oncor, they are not allowed to sell power directly to consumers. Instead, they sell the power to retailers, who come up with different energy plans to sell to consumers.

Because of the competition, energy providers come up with competitive energy plans that match different budgets and lifestyles. This means that you, the consumer, can find amazing deals among the different options on the table.

What kind of energy plans can I choose in Addison?

As you compare energy plans, you’ll notice that the options would either be fixed-rate or variable-rate. A fixed-rate means that the same energy rate per kilowatt-hour will be applied to your bill for the entire duration of your contract. On the other hand, a variable rate means that the energy rate changes month over a month depending on the cost of energy in the market.

You will also come across energy plans where only part of the energy to be delivered is sourced from renewable sources, while there are others that offer 100% green energy.

What is green energy and why is it important?

Green energy is sourced from natural sources like the wind, the sun, and water. Using green energy reduces our dependency on fuels that continue to harm the planet. By choosing green energy, you are helping the planet heal and are adding years to the earth’s life.

Texas produces the most wind power in the entire country and is one of the top states generating solar energy as well.

How long are the contracts when I sign up for an energy plan?

The contracts attached to energy plans can last anywhere from 12 months to 36 months. There are some cases where you can get an energy plan on a monthly basis, but it may not be the most cost-effective option. Sometimes, longer contracts are better because it comes at a fixed rate. This means that even if energy costs get higher a few months from now, you will still enjoy the same rate you started with.

What happens if I don’t want to finish the contract period?

A lot of energy plans include an early termination fee, which should be paid if you decide to switch to a different provider before the contract period ends. There are ways to switch to a different provider without the need to pay the cancellation fee though, so make sure to check the details of the different energy plans you’re checking out.

How do I find the right energy provider in Addison?

The energy market is constantly changing and there are tons of energy companies in Addison that offer great energy rates on electricity plans. The problem is finding the right energy company to go with. You have a choice when it comes to energy providers in Addison, so be sure to compare all of your options to find the right one for you. Energy Outlet is here to help you compare your options in Addison.

Many of the energy providers in Addison have similar rates for their electricity packages. If you are trying to decide between an electric company based on price alone, it may be worth comparing what all of the companies provide as part of their standard features instead of just the lowest rates available on electricity supply.