Texas has many different energy companies, and all of them provide different energy plans. When you compare power rates in Texas to choose one among so many can feel a little overwhelming.
While electricity providers and create any type of competitive rates, these are the four most common types of plans offered in the market. At the end, which type of plan works for you will depend on your unique consumption patterns, your lifestyle, and your goals.
Before you sign up for the plan, it is important to familiarize yourself with the options available and put those choices in context with the way how to use energy to ensure the best possible fit with the type of plan considered. So here are the key highlights of these four popular types of electricity plans used in Texas.
1)Fixed-term plans- As the name suggests, these plans have a fixed rate per kWh, which remains the same throughout the contract period. The cost remains the same regardless of any price fluctuation.
2)Variable-rate plan– these plans have fluctuating prices based on the market. This means that the price per kWh will increase when the demand for electricity is high, like during summertime and will decrease during the low demand time, for example, spring or autumn.
3)Green Energy plans– This is one plan which is becoming readily popular among the Texans. As the name suggests, the fuel used in producing electricity is 100% renewable. This is one way to offset the damage caused by the energy produced by non-renewable resources. This plan is perfect if you want to reduce your carbon emission and go green.
4)Prepaid plans– This plan requires you to pay upfront. Here the customers make a deposit and the cost of the energy they consume get deducted as long as they have credit in their account. Typically this type of plan doesn`t require a credit check so they are ideal for people with credit issues.
Apart from these, there is a growing number of electricity providers offering plans with free periods, that include plans like free-nights or free-weekend and many other variations of the same idea. While there are both fans and detractors of these free periods plans, the reality is that they are neither good nor bad. Free periods plans can work fantastically well for people with consumption patterns that match the plan requirements to produce the lowest costs. In some other cases, however, people don`t really understand the usage patterns or the lower rate requirements and choose them lured by the idea of getting something “free”. And there are horror stories of people that registered for a great electricity plan recommended by their neighbors or friends to find out that the same plan doesn`t work for them but they are stuck with Texas-sized high bills. That is off course a really irritating and costly experience.
That`s whyEnerWisely’s Energy MatchMaker is the best way to smartly compare power rates in Texas and the get the lowest cost plans. Breath easy and stop dreading having to spend lots of time “studying” all that fine print or feeling intimidated by the complexity and confusion of the competitive market rates.