The window on lower electric rates in Texas may be closing as summer heat and higher power demand approaches, making now the best time to lock in a lower electric rate before rates jump for the summer.
Barry Smitherman, chairman of the Texas Public Utility Commission, said that "now is the time to lock in a price for electricity. Prices are really, really low right now."
Lower industrial demand for natural gas caused by the recession has swelled stockpiles, pushing prices down to levels unseen in years. That, in turn, has depressed energy prices, since natural gas fuels most power plants in Texas. The end result is that Texas electric rates are about 50% lower than they were this time a year ago, and now is the time to lock-in a cheap electric rate for the long run.
Locking-in a low, fixed rate is especially important for customers currently on month-to-month variable rates, which change with the market. Customers on variable rates have enjoyed low prices in the spring and winter because natural gas prices have been low. However, with summer heat set to increase the demand for natural gas in power generation, power prices are set to rise. Customers on variable rates may see large increases in their rates.
That's why it's the perfect time to lock-in a low, fixed-price rate that won't change even if electric and natural gas prices increase. And fixed prices are currently at historic lows, and are just a cent or two higher than variable rates, a modest price for the assurance of locking in a cheap electric rate for 12 months, or even longer.
Still, it can be daunting to sift through the dozens of electric offers from competitive energy providers in the market. That's why SaveonEnergy.com takes the hassle out of finding the cheapest electric rate. SaveonEnergy.com makes energy suppliers compete for your business, so you get the lowest rate.
SaveonEnergy.com makes finding a new lower electric rate fast and convenient, so you don't have to spend hours combing through complex offers and researching different electric companies. And SaveonEnergy.com screens all its energy providers so customers only pick a reputable, stable company that will honor its pricing, provide high levels of customer service, and will be around for the long haul. That makes SaveonEnergy.com your one stop shop for finding the lowest electric rate.