You may be feeling a little lucky this week with St. Patrick’s Day approaching. But when it comes to finding low energy rates for your home, it takes a little more than luck.
It’s true, there are some great electricity rates out there from Texas electricity providers. You just need to do some research first.
What happens to my energy rates when I leave my electricity choice up to chance?
One of the great things about Texas is its deregulated electricity market. This gives Texans the power to choose their retail electricity provider (REP). The good news is, there is an abundance of REPs to choose from.
The bad news is … well, there is an abundance of REPs to choose from. The thought of digging through all the options for the lowest energy rates might make you want to just pick one randomly and hope for the best. (Especially if you’re one of the many newcomers Texas gains each year.) Or, if you currently have a Texas energy provider, you may be tempted to let your contract automatically renew.
Both of these “strategies” mean you are not exercising your right to choose to the fullest extent. And you could be missing out on lower energy prices from your current REP or other electricity providers.
Is electricity price per kWh the pot of gold I should be looking for?
When you shop for energy rates, you’re probably looking mainly at the kilowatt hour (kWh) cost. This is a helpful starting point. But there are many factors that can drive that price on the screen up or down. A good thing to remember is that cheap energy is not always the best choice.
In addition to price, don’t forget to consider:
- Term length – A month-to-month plan may have an appealing kWh cost at first, but it can fluctuate with market prices on a monthly basis.
- Plan type – A Time of Use plan, such as one that offers free or discounted rates on nights or weekends, could affect the average kWh cost on your bill. It may have a higher rate listed that some other plans. But if you use most of your electricity during the discounted periods, it could result in lower average energy rates than regular plans. (However, a Time of Use plan can also result in higher kWh costs than listed if you don’t take advantage of the discounted time periods.)
- Other perks – A plan that comes with a bonus offer — like airline miles — might turn out to be a better deal, or more valuable to you, even if the electricity price per kWh is a bit higher than other plans.
What else should I look for in electricity providers and plans to save some green?
In addition to term length, plan type and added perks, other factors are also important to consider before you choose an energy plan.
First and foremost, find a Texas electricity company you can trust. A cheap electric company should still have good customer service and positive consumer ratings.
Second, you want to only consider the best electricity providers for your specific lifestyle and needs. If you’re sustainability-focused, that could mean choosing a provider that offers clean energy plans. If you’re budget-conscious, that could mean selecting a provider that offers ways to monitor and manage your electricity usage.
Finally, shopping for electricity based on your average monthly usage can show you more accurate energy rates. Plan pricing can vary based on how much you consume. For example, a person using 2,000 kWh per month could see a different average price per kWh than another person on the same plan who only uses 500 kWh a month.
In the past, these nuances were difficult to detect. However, there is now a very simple way to shop for electricity. Everything Energy’s innovative search tools let you easily filter plans based on your average monthly usage, term length, perk preferences, providers and more. It even shows you the true kWh cost and average monthly bill estimates based on your actual usage
How can I increase my odds of finding low energy rates?
In summary, luck can only get you so far. Finding the best energy rates is more than just choosing the plan with the lowest kWh costs. But Everything Energy takes the effort out of the equation, so you can search, compare and sign up for a plan in minutes.
Best of all, it’s free to use Everything Energy. Give it a try today and find the energy rates you’ve been looking for