Want to opt out of the Black Friday craze but still want to catch a “deal” or two?
We have a win-win scenario — save on things you already use. And we have the perfect place to start: your electricity bill. After all, you have the power to choose Texas electricity rates from a variety of electric providers in Houston, Dallas, Austin and more. So, why not exercise that right while hopefully saving a little money along the way? Keep reading to learn how shopping for electricity plans can pay off. Then, follow our step-by-step guide on how to shop for electricity prices in Texas that meet your budget and needs.
How do you maximize Black Friday savings?
The cheeky answer is: don’t buy anything!
Don’t worry — the economy won’t notice. In 2022, the National Retail Federation and Prosper Insights & Analytics reported a record 196.7 million Americans shopped between Thanksgiving Day and Cyber Monday. That’s over 58% of the entire U.S. population!
With 72% of the population reportedly living paycheck to paycheck, many people will be feeling a financial crunch this holiday season. To combat the crunch, you can work on putting some money back into your budget by saving on things you already use.
We all use electricity. And with residential electricity prices in Texas continuing to rise, it makes sense to use this Black Friday as an opportunity to shop for Texas energy rates that will won’t put you in the red next year.
Is it worth it to shop and compare electricity prices in Texas?
As a mostly deregulated state, Texans have the power to choose their electricity provider and energy plan. Exercising that privilege keeps rates competitive, which benefits all residents.
If you’re wondering if it’s worth your time to shop for electricity and compare Texas power prices, the answer is yes! Consider the following examples:
You use around 1000 kilowatt hours (kWh) every month, paying an average of $0.17 per kWh. You find a plan with the same terms, but with an average price of $0.165 per kWh. Over 12 months, that’s $60 of savings for maybe 30 minutes of your time.
You use around 500 kWh in your apartment every month. You just realized that you’re on a month-to-month plan, and your rate can fluctuate. Last month you paid an average $.0179 per kWh. But if you get on a 12-month fixed-price plan, you could lower your average cost per kWh. That’s savings plus price protection that you otherwise didn’t have.
In these examples, you could be putting money back into your pocket. That’s pretty rare on Black Friday!
How do I shop for electricity plans?
To make the process of shopping for electricity easy, we’ve broken it down into three simple steps.
Step 1: Find out more about your current electricity plan.
In order to shop for a deal, you have to be familiar with what you’re paying right now for electricity.
To do this, pull out your recent electricity bills (or open them online). Read through them carefully, including the fine print. Make note of your energy charge (what you pay per kWh) and any additional charges on your electric bill.
To account for any seasonal bill spikes, check your usage from the previous 6 to 12 months and find your average usage.
Also make note of when your current contract ends and any early termination fees.
What if your contract doesn’t expire for several months and you can’t cancel it without paying a fee? Continue through Step 2 to get a good idea of what you want for your next plan, then make a note on your calendar to revisit Step 3 when you have less than 14 days left on your current contract. At that time, you’re allowed to sign up for a new energy plan without incurring any early termination fees.
Step 2: Read about how electricity plans work.
Before you begin your search, educate yourself so you know exactly what to look for and how each plan will affect you. Things to keep in mind include:
- The rate you see online may not always be the rate you pay. For instance, many plans publish the average price per kWh based on a home that uses 1000 kWh per month. If you only use 500 kWh per month, your average price could very well be higher.
- The Electricity Facts Label (EFL) is a must-read. Every plan has an EFL, which has all the fine print about the plan. This is where you’ll see any rules and conditions of the plan, and any fees that may affect your total cost.
- There are pros and cons to every term length. Plan term length can affect your price. Decide which one works best for you before you start your search.
- Look at more than just cost per kWh. In other words, the cheapest electricity plan is not always automatically the best choice. Perks, energy-saving tools and provider reputation are all things to take into account.
Step 3: Start comparing electricity prices in Texas.
The easiest way to compare energy rates in Texas is to utilize a free energy broker. This will allow you to narrow down plans from many reputable providers at once.
Everything Energy, an energy broker, offers easy-to-use search tools and filters that will help you find the best electricity plans for your lifestyle, budget and preferences. You’ll be able to see each plan’s cost per kWh, EFL, plan details and even an estimated average monthly bill based on the usage you input. Plus, you can click and sign up on the plan in minutes.
Shop electricity prices in Texas on Black Friday — or any day
Black Friday is a great day to find some of the cheapest electricity in Texas. But you can also shop for energy plans any day of the year. The key to getting the best plan for your family is to shop and compare plans and pricing. The payoff could be well worth that little bit of extra time.
To start shopping electricity prices in Texas today, simply enter your ZIP code here.