Because of inflation, the renewable energy solar incentive push, and the Russia and Ukraine war we believe electric prices will remain historically high.
Answer: Yes, electricity rates are likely going up in Texas for 2022.
Unfortunately 2022 does not look very good although the commodities market believes rates may start getting cheaper 24 and 36 months from now.
Specifically a 24 month time frame from now looks like it has the potential for seeing a price decline but this is only speculation. In 24 months that would make it the year 2024. Comparing 2024 with 2022 I would avoid price contracts that extend no further then 2022 or 2023 and lock into something for at least 2 years.
The Russia and Ukraine war is demanding a lot of Liquid Natural Gas from Texas and the rest of the country to provide energy fuel to European countries that have seen their energy pipeline disrupted by this war.
Below is a chart showing you where natural gas spot price is as of today which directly affects electricity rates going up.
Donny has been writing about the deregulated energy markets since early 2007. His knowledge has helped consumers lower their electricity cost.