“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.
In Texas, a transmission and distribution service provider (TDSP) is different from a retail electric provider (REP). While you can compare electricity rates through REPs, your TDSP is determined by where you live so you don't get to choose or change it. Oncor handles almost 120,000 miles of power lines and delivers electricity to homes and businesses. Also, the company assists about 10 million energy users in Texas.
Constellation’s 12 Month Usage Bill Credit offers cheap early termination fee electricity in Dallas. This plan’s energycharge is 8.9 cents per kWh. The TDU also adds the $3.49 per month and 3.4 cents for each kWh on top of that rate. But just like the other two plans, customers are eligible for a bill credit. When you use 1000 kWh in a billing period, you’ll receive a $35 bill credit. You’ll receive another $15 when you hit 2000 kWh of usage in a single month. The result is a low average rate of 9.2 cents per kWh for 1000 kWh of energy use.
Final switch tips. When you make your final selection, don’t call your current electricity provider to cancel. Sign up with the new company only. Try to sign up at least five to seven days before your plan expires so the overlap between the two billing cycles is negligible. Some people switch too late and pay higher prices during the transition. If you have a smart meter, the state rule is you must be switched within 48 hours. But five to seven days is safer.
Fixed-rate, long-term (contract) plans provide stability in electricity rates. If market energy costs suddenly trend upward where you live, you can rest assured that you won’t have to pay more out of pocket. However, if you want to switch to a different, lower-cost plan before the end of the contract term, you’ll likely have to pay a cancellation or early termination fee.