Will You Shop Houston Electricity Rates?
People don’t often think about natural gas as a driver for electricity rates. But it’s true, especially in Texas. Many power plants burn natural gas to create electricity. With natural gas rates falling, you’ll want to get cracking on shopping for energy. But let’s not rush into this just yet. You need to know how to shop Houston electricity rates.
When To Shop Houston Electricity Rates
As with many things in life, timing is everything. Yes, natural gas prices are dropping. However, they’re likely to fall further in the coming few weeks. Therefore, electric prices should respond likewise. Prices tend to be lowest in the spring when demand dips furthest.
The APG&E TrueClassic 36 plan has an average bill of $121 at 1,000 kWh. Will it be lower in the near future? Probably, but there are no guarantees.
No matter which plans you’re studying, chances are they’ll be a little cheaper in the next month or two. That’s not to say you’ll get a raw deal today. But you can probably get a better one with patience.
Power Plan Features
When you shop for Houston electricity rates, you have a myriad of factors to consider. Variable versus fixed rates, term length, and incentives are among the most important. Each plan’s electricity facts label (EFL) covers these issues. You’ll still want to read the rest of the information on https://www.texaselectricityratings.com, but the EFL is your cheat sheet.
For instance, the rock-bottom price on a power plan comes from the Energy Texas Monthly plan from Energy Texas. The plan’s EFL clearly states it is a variable rate plan with a month-to-month contract term. Contrast this with most other plans which have fixed rates and longer terms. The EFL covers other incentives but often points to other documents for the fine print.
What To Watch Out For
Some electric plans have things that can come back to bite you. That’s why diligent shopping is so important. Watch out for things like tiered rates, bill credits, early termination fees, other charges, and what happens when the contract ends.
Take the lowest rate plan available right now. The cheapest fixed rate plan is the Frontier Utilities Frontier Saver Plus 24. This plan’s 11.8 cents per kWh rate is best for customers who use a little more than 1,000 kWh per month. Customers earn a $125 bill credit at this usage. Use less than 1,000 kWh or a lot more than that, and this plan gets unfavorable quickly.
This plan also has a whopping $200 early termination fee. Switch power plans too soon, and you’ll pay the piper.
Make sure you know what happens when your contract ends. Usually, the best thing is to transition to that provider’s variable rate plan. If you forget to shop, you’ll probably have one high bill to kick you into gear. Nonetheless, you don’t want to get locked into a new long-term contract without shopping Houston electricity rates first.
Shop Houston Electricity Rates
Even though you may wait a month or two, shop Houston electricity rates now. You’ll have ample time to gather the information you need to make the best choice for your next power plan. The best place to shop is right here at Texas Electricity Ratings.