7. Pick your poison. Deeper in the website you see a search box along the left side. Under “Plan Type,” a recommended pick is fixed, but you can also choose a variable or an indexed market rate. (The Watchdog likes fixed since market conditions can grow volatile.) Under “Price,” type in a range from 4 cents to 12 cents. That’s a good spread. Pick a contract length. Fill out the other boxes. Then hit “Refresh Results” on the bottom. Keep trying different combinations to see what the prices are that day. They change often.
Two companies provide electric service to your facility: the Retail Electric Provider and the wires company (also known as the Transmission and Distribution Service Provider, or the Transmission and Distribution Utility, or the utility company). In Houston, it is known as CenterPoint Energy. When their charges have not been included in the price quoted to you by the Retail Electric Provider, there will be extra line items on your bill.
Dallas energy providers offer a wide variety of contract lengths, from month-to-month variable versions to long-term fixed rate contracts that can last for years. In addition, some may choose prepaid electricity plans to avoid credit checks and deposits. There is no single right contract that fits with every person’s lifestyle and budget. Choosing the type and length of your contract depends on how long you plan to stay in your home and your specific budget requirements.
“I met Elisa Kaplan, President and CEO of Lantern Power, a few years ago. Since that time I have involved Lantern Power with multiple business opportunities, residential and community organizations. In each and every instance, Elisa has not only done what she said she would do… she has exceeded expectations! Since our initial meeting, Lantern Power has created a long list of satisfied clients.”
Knowing electricity rate price trend history is valuable information because the rate that you sign up for will be the rate you pay for the length of your contract. If you moved into your home in the summer and you find yourself renewing your electricity plan every summer, you may be paying some of the highest rates offered for power all year long. It might be worth the expense to sign up for a short term plan as a stop gap measure until electricity rates are cheaper once demand isn’t as high.
What can be better than cheap electricity from a reputable Texas energy company? Gexa Energy’s Gexa Saver Supreme 24 plan has an average of 8.7 cents per kWh for 1000 kWh of usage. The plan’s energy charge is12.4 cents per kWh but that cost lowers significantly if you use between 1000 – 2000 kWh in one billing cycle because you’ll receive a $75 bill credit.
Living in the Dallas metroplex area and being served by Oncor as your local electric utility means that you have the power to choose from among dozens of competing electricity providers. All of them offer multiple rates, contract lengths and discount offers. In addition, each provider has its own website designed to lead you through the maze of complicated offers, which are often filled with confusing EFL details, overlooked fine print, and introductory rates. As a result, many customers are still confused by legal terms and narrow usage level bill credits frequently used on electricity plans for marketing purposes. As a result, they often end up getting surprised by unexpected fees and missing out on potential savings on their electric bills.
Electricity rates in Texas are not fixed. Your rate can vary greatly depending on your usage and your electric plan. Some plans have relatively flat rates, while others can be all over the place. This means that you could end up paying 7¢ for 999 kWhs and 8.5¢ for 1001 kWhs. That would be a 16% increase because you microwaved a few potatoes. Learn more on the different plan types here.
The city of Dallas is home to over 1.2 million residents, making it the third-most populated city in Texas. As a territory, it encompasses twenty zip codes and covers 385.8 square miles. Based on its proximity to Fort Worth, the two cities form Texas’ largest metroplex, which doubles as the fourth-most populated metropolitan area in the US. Not only does the metroplex have the largest metropolitan economy in the state, it lies within a deregulated market, allowing residents to choose the energy provider that they receive service from.
Not understanding the system, I overpaid — but I quickly grew tired of that. I decided to educate myself. Eventually, I figured out a system. My Watchdog Nation Guide to Electricity Savings is built on the idea that companies should be judged two ways — by lowest rate and by company reputation. When the stars align, the right company is obvious. (Note: This doesn’t apply to customers in mandatory electricity co-ops or municipal-owned utilities.)
Unlike with long-term plans, monthly, variable rate (no-contract) plans have no cancellation fees. You won’t have to pay a penalty if you decide to take your business elsewhere because you found a better deal. Plus, you won’t be left paying more than you should if the market rate for energy trends down. However, if the market prices rise, you’ll have to pay more than those who are in-contract.