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Cheap Electricity: Is it Always the Best Choice?

Posted on by Everything Energy 4 minutes 20 seconds

With inflation and the cost of living on the rise this year, many Texans are looking at any and every way to cut back on spending. That includes finding cheap electricity to help lower monthly utility bills — especially in Texas’s hot summer. But is cheap electricity always the best choice for powering your home? Let’s take a closer look at the issue.

Should I be looking for the cheapest electricity rates?

Cheap electricity is the same as more expensive electricity, right? In essence, yes. So, cheap energy plans are very appealing in that respect. By simply choosing the energy plan with the lowest rate, you might assume you’ve found the best plan. But price is just the beginning. You’ll want to consider much more when choosing how to power your home.

Besides cheap electricity, what else should I look for in a Texas energy provider?

Before narrowing it down to the plans with the cheapest energy rates, look at other related factors including:

Some Texas electricity providers add more value to an electricity plan than others. Along with price, all of these things should be considered when you make your decision. At the end of the day, you want an electricity company you can trust that offers what’s most important to you.

What is the cheapest energy company?

Some Texas energy companies offer a no-frills approach to electricity. This can (but doesn’t always) equate to cheap electricity. Really, there’s no single energy company in Texas that consistently provides the cheapest energy. Plans and pricing change often. So, a low-priced plan you see today may not be the least expensive option tomorrow. 

What else should I know about electricity rates?

Before you choose a cheap electric company or plan based on price alone, take a step back. Do you understand the details related to rates? For example, you may see a great electricity rate online, but on closer look, it turns out to be a month-to-month plan. This means your rate could spike the following month with no warning. Term length matters, and it can affect your average monthly bill.

Also, you’ll want to know how many kilowatt hours (kWh) you use, on average, each month. That way, you can make accurately compare rates of plans. Comparing rates for a monthly usage of 500 kWh to rates for 2,000 kWh can be like comparing apples to oranges.

How do I find cheap electricity plans?

The easiest way to find an electricity plan that fits your budget, lifestyle and needs? Shop and compare electricity plans with Everything Energy. You can even use your Smart Meter Texas usage data to see personalized pricing and monthly bill estimates!

What are the best electricity companies in Texas?

Now you know that there’s no single cheapest energy company in Texas. You also know that many electric companies provide added value to consumers. You can find this value in many forms, like excellent customer service, perks, credits and energy-efficiency guidance. So, now it’s time to combine this knowledge to find electricity companies and plans that best fit you and your family.

When you use an advanced online energy shopping tool, you can look at plans and features side by side. That means you can make apples-to-apples comparisons to find your perfect match.

Are there other ways to lower my electricity bill? 

Getting cheap electricity is not the only way to save money on your electric bill. More ways to help lower your electricity costs include:

Find an affordable energy plan today.

As you can see, getting the cheapest electricity that’s out there may not always be the best option for your situation, home energy goals and preferences. But no matter what your top priority is when it comes to electricity, we can help. To get started, just enter your ZIP code at EverythingEnergy.com. We’ll guide you from there.

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