Contract Length and Rate of Electricity Plans
These are the two most important factors to consider when switching your electricity provider in Temple, Texas. The length of the electricity contract varies by electricity providers. Some plans will lock you in a fixed-rate contract that lasts for 6-12 months and more, while other plans are renewed every month, providing you with the flexibility of switching your electricity provider anytime you want. There is no ideal contract length for Texas, as the suitable term of the plan depends totally on your goals, needs, and budget. The electricity plans in any deregulated city of Texas are divided into two types mainly:
Fixed-rate contracts: The price remains stable for the entire length of the contract. These plans bind you to a fixed-rate energy plan that lasts for 12-36 months. You pay the same price until the contract terminates, but you don’t have the right to cancel the plan before it expires automatically. If you end your fixed-rate energy contract, you will be liable to pay an early cancellation fee, which could go beyond $150.
Variable-rate plans: As the name suggests, the electricity rate in these plans keeps fluctuating depending on the demand and supply factors. The electricity provider has the right to lower or raise the energy rates however and whenever they want. It is important to note that variable-rate contracts do not notify the user before the electricity rate changes. So, there is a good possibility you might receive a surprising energy bill (more than what you have signed up for) a few months later.
Other Energy Plans
A green energy plan is another option for those who want to reduce their carbon footprint by going green. These plans contain 100% energy sources from renewable sources and make a great choice for people looking for sustainable energy plans. Indexed-rate electricity plans are also a good alternative to variable-rate plans, as they give you the flexibility to switch your energy providers without frequent fluctuations in electricity prices.
There are plenty of options to choose from. Once you have understood your goals, you can review and compare different electricity plans and sign up for the one that makes sense for your family. It’s important to understand your goals and go over the details of each plan before you make any decision. For further help, contact the support team at Energy Outlet.