Falling natural gas prices make now an excellent time for Texas businesses to lock-in a cheap electricity rate ahead of the winter season, when higher natural gas demand from colder weather could erase the slide in gas prices.
The economic slowdown has depressed natural gas prices from the highs seen during the summer. Once topping $13 per million British thermal unit (mmBtu), natural gas has tumbled to just over $6.50/mmBtu, bringing down electricity prices with it. Natural gas is down about 40% from the levels seen in January, when the recent run-up in gas prices started. The fourth quarter of this year is an excellent opportunity to take advantage of these low prices, and avoid any similar spike in January of 2009 caused by weather or other market conditions.
Falling oil prices also make this a good time to lock-in a cheap electricity rate, as intraday trading has seen oil hit $77.09, a level not seen since September of 2007. However, OPEC has called an emergency meeting for November, at which time it will likely cut production to ease the oil price slide and return prices to the $100+/barrel level. Any such action would likely move natural gas prices higher, meaning business owners have a brief opportunity to lock-in a good electric rate now before the oil and gas markets recover.
Even though the commodity markets are supporting lower energy prices, Texas businesses still need to make sure they're finding the best deal out there. But rather than taking days, if not weeks, to research over 100 electric companies in the market, and risk missing out on the current buying opportunity, businesses can simply use SaveOnEnergy.com to find the best electric rate quickly and easily.
SaveOnEnergy.com offers Texas businesses its one-of-a-kind commercial retail exchange portal to directly compare offers from several competing energy providers head-to-head. All it takes is a few minutes and a click of the mouse, as businesses need to simply enter their address, service area, and monthly bill amount. The information is instantly transmitted to several competing electricity companies, who then respond directly to the customer with their best deals. SaveOnEnergy.com's retail exchange portal cuts down on the time it takes to compare electric rates allowing business owners to shop for and compare rates on their own time.
More importantly, using SaveOnEnergy.com to choose an energy provider means an energy expert is vetting and screening your suppliers. Businesses do not have to worry about locking-in a fixed rate with an energy provider that might go out of business in the next couple of months. SaveOnEnergy.com'senergy market experts inspect each supplier to ensure they have the highest financial strength and fundamentals, and also only approve suppliers with low prices and high levels of customer service. SaveOnEnergy.com'sretail exchange portal takes the work out of finding a cheap electric rate, making shopping a breeze for commercial electric customers.