With competition forcing Texas electric companies to compete against each other for each customer's business, Texas electric rates have fallen to their lowest levels in some eight years, below the final prices under the old regulated monopoly system.  With the recession lowering demand for power, now is the time to lock-in a low, fixed rate for electricity to save money on your electric bill. By comparing Texas electric companies, you get competing offers from trusted energy suppliers.

As summer heat and air conditioning usage being to wind down, already depressed power prices are falling even more.  On an inflation-adjusted basis, today's electric rates are up to 25% below the rates charged under the old monopoly system, with customers in the Dallas (Oncor) and Houston (CenterPoint) areas both able to save over 20% versus the old monopoly rate.  The following compares the current fixed rate offers from competitive suppliers with the inflation-adjusted rate from December 2001 before competition started:

Service Area                  12/01 Regulated Rate           9/18/09 REP Offer          Difference

Oncor                            11.8¢                                    9.12¢                          -22.7%

CenterPoint                   12.6¢                                  10.02¢                          -20.5%

AEP Central                   11.7¢                                  10.40¢                          -11.1%

AEP North                      12.2¢                                    9.30¢                          -23.8%

TNMP                            12.9¢                                    9.70¢                          -24.9%

Not only are rates lower than they were eight years ago, they have continued to fall since the lows seen last spring:

Service Area                  12/01 Regulated Rate         9/18/09 REP Offer          Difference

Oncor                            10.6¢                                9.12¢                                -14.0%

CenterPoint                   11.3¢                               10.02¢                                -11.3%

AEP Central                   10.9¢                               10.40¢                                  -4.6%

AEP North                      10.0¢                                 9.30¢                                 -7.0%

TNMP                            10.1¢                                 9.70¢                                  -4.0%

That means if you locked in a 12-month rate last fall when prices started to fall, or a six-month plan this spring, your plan is about to renew, and it's time to save even more money on your electric bill by shopping around again for a lower-priced energy provider.

If you haven't shopped for your electricity rate since last summer, your rate may be a nickel or more higher than today's current rates.  At that level, just by switching to a lower rate, you could save $50 per month on your electric bill (assuming the typical usage of 1,000 kilowatt-hours per month).  That translates into savings of $600 per year.