These days, thanks to deregulation of the energy market, consumers of electricity are able to purchase their electricity from a retail electric company but still have the lines running to their house ran by another company. This is the case in Houston, Texas as well as some other surrounding cities such as Humble, South Houston, Cypress, Barker, Channelview, and Crosby. Some Houston energy customers though have switched their retail electric provider through no choice of their own due to failure on the part of their current company to meet certain grid operator financial obligations. Customers of Dallas-based Abacus Resources Energy, 1,446 of which have their lines operated by CenterPoint Energy in Houston, have been switched to either Spark or Our Energy as of mid-February. If you are one of these customers there is no time like the present to compare electricity company rates with the help of Electric Rates.
- Approximately 7,700 Texas electricity customers have been affected by the lack of the company’s ability to meet financial obligations.
- According to officials rates and service will not change in anyway and interruptions will not be an issue.
- The company points to a sudden increase in wholesale power prices as being the blame for the financial issues.
- Those prices rose significantly from approximately $100 per megawatt hour to $3,000 per megawatt hour.
The increase in wholesale power prices is no doubt a significant one so it makes sense that such an increase could cause issues for smaller retail electric companies. The bright side of the situation is that customers’ service was not interrupted and rates have so far remained the same. With so many customers being affected the transition from one retail company to another, from all indications, seemed to go smoothly.
This is not to say though that rates for those customers will not change in the future which is why it is so important to compare the rates of many companies. Let Electric Rates help you make this important comparison so that you don’t end up paying more than those other customers.
Call Electric Rates at 1-903-245-4989 and start your comparison now, before your rates increase and you are stuck paying more.