The best electric rates in Texas are going to differ based on these two categories:
I’m going to assume you are asking the question to find out what residential electric rate is the best in Texas right now. If that is your question I will direct you to make a couple more categorizations.
Sort the rates by these two categories and then compare:
- Variable – Subject to change in price from month to month
- Fixed – A term length anywhere from 1 month to 12 months fixed
I would go ahead and throw out any fixed rates that are only fixed in price for 1 month. These are more like a hook to bait you in to the contract and your second month price will be completely at the discretion of the electric company.
Your cheapest variable price is going to be another bait and switch even if they tell you differently don’t trust it. The residential rate has a formula that is at the discretion of the electric company and does not have to be disclosed to the customer. Simply don’t trust these rates. Sign up for one if you need a short term thing, no problem there but be prepared to switch as month 2 roles around.
I personally like to compare 6 month prices with other 6 month prices and 12 month prices with other 12 month prices and so on.
Because of the economic uncertainty and inflationary fears I recommend locking in long term as long as you can if the price fits your threshhold.
If I found a 13 per kWh rate for 5 years I would like sign that if my contract was up for renewal. This could be a great choice or it could be that myself and anyone reading this who agrees with me is simply playing into the political fears being broadcast right now.
I think there is some strength in the reports that inflation is taking hold and will continue for some time. The war in the Ukraine has no promise of ending anytime soon.
Texas is exporting large amounts of Liquid Natural Gas to European countries which is the main reason electric rates are so high right now in Texas. We rely on natural gas as the primary energy generation to create our electricity here in Texas.
So who has the best electric rate in Texas?
Go to powertochoose.org and look through these rates. These rates have been put together by the state of Texas to provide an easy way for consumers to find the best residential rate.
The best rate can change on a daily basis so I need you to do this little bit of foot work to find out for yourself.
One provider will have the best 6 month rate while another electric company will have the best 12 month electric rate.
For more instructions on how to answer the question: Who has the best Texas electric rate?
Donny has been writing about the deregulated energy markets since early 2007. His knowledge has helped consumers lower their electricity cost.