Continued negative economic data is pushing energy prices down further, giving Texas businesses more opportunities to lock in a cheaper electric rate through SaveOnEnergy.com.

Even though OPEC is racing to cut production again, it doesn't appear the cuts will prevent oil from sliding to $50/barrel, as sharply lower retail sales have spooked the market and cast serious doubts on economic growth, and demand for energy.

The U.S. Commerce Department said Friday that retail sales fell by a record 2.8% last month, surpassing the old mark of a 2.65% drop set in November 2001 in the wake of the September 11th terrorist attacks.

The news prompted OPEC to schedule a second emergency meeting in as many months to shore up prices, but the previous production cut failed to stop oil's slide, and prices have fallen another 8% since the meeting.  It's unlikely further action will stop the bleeding either, given global recessionary fears.  Oil fell to $56 during Friday trading, nearly two-thirds off its summer high of just under $150.

Meanwhile, higher-than-expected storage injections of natural gas pushed NYMEX natural gas prices down to $6.05/MMBtu in Friday intraday trading -- again, well off historic highs seen earlier this year, although prices rebounded a bit later in the day.

It all means Texas customers who have not taken advantage of the current buying opportunity still have a chance to find a cheap electric rate and lock-in savings.

Texas business owners can leverage the power of competition to find even lower electric rates using SaveOnEnergy.com's exclusive retail exchange portal, which lets electric companies compete head-to-head for the customer's business.

The best part is it's fast and easy, while still giving business customers the best electric rate with reputable, proven energy suppliers.  It takes just a few minutes to enter the business's address and usage information on SaveOnEnergy.com's online exchange portal, and the data is instantly transferred to energy providers in real-time.  Energy suppliers then contact the customer directly with their best energy prices, cutting down on the time and hassle it takes to shop for electricity.

Current electric prices are at levels that were unthinkably low just three months ago, and businesses have a real opportunity to cut back on expenses in a struggling economy where every penny counts.  SaveOnEnergy.com is a quick and easy way to improve your business's bottom line, and make sure you're not giving up an advantage to your competitors by paying more for electricity than you need to.