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Key Points
- Fixed-rate energy plans are a stable option for customers because they offer consistent electricity rates for a set term length.
- In deregulated energy markets, fixed-rate plans are the most common option offered by retail electric providers.
- Enter your ZIP code to find cheap fixed-rate energy plans in your area using SaveOnEnergy’s free marketplace.
Fixed-rate energy FAQs
Fixed-energy rates are beneficial for customers who prefer long-term stability, predictable monthly electricity bills, and protection from fluctuations in the energy market.
Variable-rate plans are not necessarily cheaper than fixed-rate plans. The cost of electricity changes throughout the year due to multiple factors, including seasonal demand, weather, and location. Variable-rate plans can be cheaper during a lull in the market. However, they can be more expensive if the market spikes. Overall, the electricity rate on variable plans is constantly changing, whereas fixed-rate plans provide stable pricing for your contract.
Since the cost of electricity is constantly changing, the best price per kWh will depend on your location and the current market cost of electricity. Today’s cheapest electricity rate in Texas is 10.8 cents per kWh. Gexa Energy, 4Change Energy, and Frontier Utilities currently offer this rate. Enter your ZIP code to find the lowest electricity rate in your area.