{"id":4623,"date":"2019-08-05T06:58:47","date_gmt":"2019-08-05T11:58:47","guid":{"rendered":"http:\/\/www.texaselectricityratings.com\/blog\/?p=4623"},"modified":"2023-07-17T15:28:01","modified_gmt":"2023-07-17T20:28:01","slug":"should-i-lock-in-my-texas-electric-rate","status":"publish","type":"post","link":"https:\/\/www.texaselectricityratings.com\/blog\/should-i-lock-in-my-texas-electric-rate\/","title":{"rendered":"Should I Lock in My Texas Electric Rate Now?"},"content":{"rendered":"
\"Why

Why isn’t summer the best time to lock in your Texas electric rate?
Learn when you should and why it can save you trouble and money.<\/center><\/p><\/div>\n

What You Should Know About Choosing an Energy Plan During Summer<\/h2>\n

With the power to choose<\/a> your energy provider in Texas, you have dozens of options. Whether you want a clear cut, no-frill electricity plan from a\u00a0top-rated energy provider in Texas or a bad credit plan, there plenty for you to sort through.<\/p>\n

But with all the choices, finding the right plan for your household can be challenging. And one thing that can make this more complex is knowing when to lock-in a fixed-rate plan.<\/p>\n

What Is a Fixed-Rate Electric Plan?<\/h3>\n

Energy rates fluctuate no matter where you live. As a result, energy providers offer residents many different types of plans throughout the year. However, if you\u2019re looking for the cheapest electricity rates in Texas<\/a>, then you\u2019re nearly always better off locking in rates long-term with a fixed-rate plan.<\/p>\n

Fixed-rate plans come in many different contract lengths. 12-month fixed-rate energy plans are the most popular. However, they can also be shorter (3-, 6-, and 9- fixed-rate month plans) or longer (24- and 36- month). Short-term fixed-rate options in Texas are rarer and usually only available for a limited time. On the other hand, you can often find longer fixed-rate plans throughout the year.<\/p>\n

Why You Need to Lock in a Low Energy Rate<\/h3>\n

Choosing a fixed-rate plan sets your energy rate for the entire duration of your contract. This means if you choose a plan that charges 9 cents per kWh of energy use, that rate will stay the same throughout the entire length of your plan. Even if energy rates across the state suddenly double, you’ll pay 9 cents per kWh.<\/p>\n

This is beneficial for saving you money in the long run because rates fluctuate over time. And with energy rates expected to continue increasing across the nation<\/a>, locking in low rates when you find them can save you lots of money in the long run.<\/p>\n

Why Summer Is Not the Best Time to Lock in Rates<\/h3>\n

Figuring out the best time to shop for cheap energy rates in Texas can be complicated. Throughout the year, you can find low rates. And while some would expect winters to offer the lowest energy rates in Texas, the truth is that it depends on demand throughout the country. But typically, you’ll want to aim to switch Texas electricity providers<\/a> between December and March\/April.<\/p>\n

To make it easier for you, check out this electricity bill calculator. It’ll help give you an understanding of what you can expect to pay for energy each month.<\/p>\n

Generally speaking, summer is not the best time to lock in electricity rates because demand is much higher. As a result, energy providers need to charge more to help ensure they have afford enough supply to meet demands. It can also be harder for them to purchase cheap energy during summer as demand drives up the cost for energy across the state.<\/p>\n

What You Can Do While Waiting for Rates to Lower<\/h3>\n

Luckily, there are several options for you if you\u2019re looking to keep your energy bill low while waiting for rates to lower.<\/p>\n