Everyone would rather spend time on something more fun than paying their monthly electric bill, so many customers just simply scan their bill for an amount, write a check, and forgot about their electricity until the next month. However, this behavior can put Texans in danger of seeing their rates increase by 25%, 50%, or even 100%, in situations where a customer's fixed-price contract expires. You need to check your energy rate on your bill every month, to ensure you are getting a low rate comparable with the low rates available on SaveOnEnergy.com. If you are paying a higher rate for electricity, it may be time to switch to a new energy provider.
Thousands of Texans have taken advantage of SaveOnEnergy.com to lock-in a low electric rate for 12, 18, or 24 months, if not longer. However, because customers tend to "set it and forget it" when it comes to choosing an electric company, customers often forget when their low, fixed rate ends, exposing them to a higher price.
When a customer's contract expires, the customer has the right to select any product or provider they desire. However, if the customer isn't keeping track of their contract, they may take no action, simply because they aren't aware their contract is expiring. If a customer doesn't take any action when their contract expires, Texas electric providers have the right to place customers on the provider's "default" rate.
These default rates can be much higher than both the customer's current rate, and other rates in the market. Worse, these default rates change month to month, and follow any price spikes seen in the energy market.
As noted by one Forth Worth Star-Telegram correspondent, these default rates can triple a customer's electric bill. One customer ended up with a $550 monthly electric bill, when their bill is normally less than $200, because their contract had expired, and their provider moved them to a default rate.
While Texas energy suppliers must notify customers of contract expiration, the notification process is not robust. Suppliers are required to mail or email a contract expiration notice. However, mailed notices often wind up with junk mail discarded by the customer, since the notice may be separate from the customer's normal monthly bill. Electric companies may also email customers a contract expiration notice, but customers may not be expecting such important legal information in their email inbox, and may have given their provider a secondary email address, for privacy and spam concerns, which they do not check often. While electric suppliers must have a customer's "consent" to send legal contract notices via email, such consent usually amounts to the supplier informing the customer, in the lengthy Terms Of Service which many customers do not read, that the customer automatically consents to email notice unless the customer objects. Many customers are thus unaware they've unwittingly agreed to receive important contract notices via email.
This is why you need to check your energy rate every month, and compare it against prices in the market. Fortunately, comparing energy rates takes only a few seconds using SaveOnEnergy.com. All you need is your bill, which will state your energy rate listed as “the average price you paid for electric service this month,” or a similar description. You can then go online to SaveOnEnergy.com, enter your zip code, and see the lowest electricity rates in Texas. Determining if you're paying too much for electricity can be done any time day or night, meaning there's no excuse for not checking your energy rate.