Fixed-Rate Energy Plans
Fixed energy plans are the first option to choose from when looking for an electricity plan. These energy plans offer electricity rates that remain constant for a fixed time period i.e. usually 6-24. As well as coming with a set contract length, with this plan, electricity rates will be fixed and will not change as the market prices fluctuate.
Saving hundreds of dollars on energy bills every month is possible with a fixed energy rate energy plan because you will have a better idea about how much energy consumption will cost you in the future. Thus, these energy plans are beneficial for people who have constant energy demand and electricity usage patterns throughout the year. As they know the value of their product (electricity) consumption; they can pay monthly payments accordingly i.e. according to electricity consumption within the given time period which ensures low electric bills for them at end of the fixed time period when energy rates again change based on market rates or energy providers increase energy rates with time.
Variable-Rate Energy Plans
Variable energy plans are the energy plan which follows changes in energy prices and remain at pace with electricity market changes. The electricity rates under this type of energy plan also vary and fluctuate every month. With this plan, you may have to pay more than before in high energy demand months when the energy market is high but may benefit from lower rates during certain times in the year. As your energy meter calculates usage on an hourly basis; you will be billed for everything that you have used during the period for which you have signed up for a variable rate plan.
These energy plans come with a cost advantage because energy rates tend to go down every year which makes this energy plan an attractive option among electricity consumers. However, if the energy market is rising then the energy rates also rise and you have to pay extra money for that month. On average, energy rates tend to fall by 1-2% every year in the United States which means more savings for energy consumers on monthly energy bills.
Monthly vs Yearly Contracts
Monthly contract lengths are great for people who may not be sure how long they will stay in their home.
The downside to monthly contracts is that if you like your plan, but want to move before the end of the 12th month, you’ll have to pay an early termination fee. This can quickly add up and make it cost-prohibitive for some people. So while monthly plans are cheaper than yearly plans upfront, this doesn’t always mean they’re less expensive over time.
Yearly contract lengths provide greater stability because you won’t need to worry about paying an early termination fee or cancelling your plan prematurely just so you can switch providers when necessary. The only downside is that if rates go down during year two of your plan, you’ll be stuck paying the higher rate.
Green and Renewable Energy To Power Your Home or Business
Green energy and renewable energy are two phrases that are often used interchangeably, but they actually mean different things.
Green energy is a type of renewable energy that comes from resources that are naturally replenished like sunlight and wind power. Renewable energy, on the other hand, refers to any type of energy that is generated from sustainable sources, like solar or wind power.
So what’s the difference? Green energy is a subset of renewable energy, meaning that all renewable energies are technically “green.” But not all green energies are renewables, because some come from non-renewable resources like nuclear power or hydroelectric dams.
That’s why it’s important to be aware of the different types of green and renewable energies available so that you can make the best decision for your needs.
Frequently Asked Questions
What are the average rates of electricity in my city?
The average rate in big Spring City is ranging from $ 0.101 to $ 0.200 kWh. The average rate for the residential area is relatively less as compared to other cities of Texas.
The rates could change as per time. So, one can check it on the official website of energy providers.
What is Power to Choose?
Power to Choose is a digital platform that allows Texas residents to compare energy plans and providers in their area. This service provides the user with an opportunity for finding monthly savings on electricity rates by comparing options side-by-side, just like how Energy Outlet does it!
Can I get a free energy audit?
One can check with energy providers whether they offer free energy audits or not. On most occasions, energy providers do not provide free audits; but some of them do it in certain seasons like summer or winter when people consume more electricity due to hot summers and freezing winters.
How do energy providers charge rates?
There is a rate for energy consumption that varies from one city to another, and electricity charges vary accordingly. There is a rate per unit that energy companies charge their customers. When you use more units compared to your usual electricity bill, it leads to a hefty amount of money paid at the end of billing cycle. These units depend upon the power demand measured over a period of time so you have to pay bills according to units consumed within this period of time.
What information should I check while going for the best energy plan?
The key factor that one should keep in mind is energy rates. Either go for the energy plans which have low energy rates or you can evaluate your energy requirements and then switch to energy plans accordingly.
In addition, an energy plan should be flexible enough so that if your energy requirement changes in the future, then you should be able to switch to a better energy plan without changing its providers. This way one can save money as well as time. Therefore check your electricity plan’s flexibility factor before going for an electricity plan.
How does electricity rate reduction help me?
Electricity rates are reduced by different means like rebates on bills, discounts on monthly payments etcetera. You can avail of these rebates and discounts according to your needs because they depend upon of power units consumed within the specified time.
In addition, energy providers have energy plans which provide electricity rates redemption. These energy plans give a ticket to play the lottery and one who wins gets a rebate on energy bills or other rewards available with energy providers. You can go for these energy plans if you want to reduce electricity rates by good luck.
Can I get green energy plans in my city?
Yes, green energy plans are readily available in your city. One can consult their local energy provider and try to grab the best energy plan with environment-friendly options.
Can I contact my energy provider anytime?
Most of the energy providers give leniency in calling and contacting them 24*7. The customer care executive is always ready to help you and help you with all the problems.
How can I know which plan is best for me: fixed-rate or variable?
Here are two conditions that decide whether variable rates are good for you or fixed:
If your budget is less and you cannot go beyond the fixed limit, you should go for fixed-rate plans. These plans always help to know the electricity’s fixed rate, and you can set your monthly budget accordingly.
When you can spend a little more, then go for variable plans because you can get an advantage when rates are less.
What to do if I face too many electrical problems in my area?
The utility providers who supply the electricity in a specific area are the same. The problem faced within the same area is almost similar. So one can contact the company and ask them about the issue.
Is there any commercial electricity provider available in my city?
Commercial electricity providers are very readily available in any city in Texas. One can check on energy outlets and try in which electricity providers are giving commercial connections.
Are the conditions associated with commercial connections different?
Yes, terms and conditions are different with commercial connections. If you want to switch from a commercial connection, then most of the time, you have to the providers one month before.
The charges taken for a unit for commercial connections are more than residential connections. Apart from this, many different terms and conditions are there depending upon the company.
Can I transfer one connection from Big Spring to another city?
Nowadays, transferring connections from one address to another is easy. But transferring connection from one city to another depends upon your energy provider.
Some of the energy providers give liberty to change the connection and moved to a new city. On the other hand, some energy providers give liberty to switch or transfer the connection to a new city where their operators are available.
Therefore one has to confirm the energy provider’s conditions and then switch or get your connection transferred.