When you live in Texas, where electricity supply has been deregulated, you have the opportunity to compare electric companies. In an earlier article we talked about comparison based on the fact label.
Fact labels resemble nutrition labels and you read them in the same spirit you would caompare a can of tomatoes with a can of beans. Nutrition labels are organized int ofood parts, such sodium, carbohydrates, sugar, protein. Your fact label is organized in a similar way into five coponents:
— Pricing per kilowatt-hour. In other words, assuming you don’t change the way you use electricity, you can estimate how your choice of retail provider will impact your electric bill.
— Lock on rates: Some companies lock you into a rate for one to three years. If rates rise, you are protected. If rates fall, you cannot take advantage of lower pricing.
— Length of contract: If you aren’t sure how long you plan to stay in Dallas, a shorter contract will make more sense than a longer contract.
— Sources of power. Your company’s power may come from coal and lignite, natural gas, nuclear power or renewable energy. If you are concerned about environment impact as well as costs associated with these resources, study this section carefully
— Emissions and waste per kilowatt hour: If you are concerned about the environment, you may choose a plan with fewer emissions and waste.
As a consumer, you need to take time to read the labrl and compare details, just as you compare food labels on cans and boxes.
As with nutrition, these labels are designed to make the shopping process easier and faster while saving you money.
Are you living in a city or state where electricity has just been deregulated? Now you have the opportunity to compare electrical rates among different companies.