With Texas electric rates the lowest that they've been in about a decade, now remains the perfect time to switch to a lower rate using SaveOnEnergy.com. As we noted a few weeks ago, the spring (and fall) are the best time to shop for a lower electric rate because electric usage is lower in these "shoulder" months, since Texans are using less power with the mild temperatures. With SaveOnEnergy.com, Texans can choose from among the premier energy providers in state, and find the plan that's the best fit for them, opting for fixed-price security from 6 months or 12 months, all the way up to five years, or choosing a month-to-month rate for a lower price and to preserve the ability to switch risk free.
Choosing a short-term, such as 6 or 12 months, fixed rate is a good deal right now, with prices for both types of products in the 9 cents per kilowatt-hour range for many parts of the state, including the Dallas-Fort Worth metroplex. Signing up with either a 6 or 12-month fixed rate plan will ensure customers lock in a low, fixed rate for the summer season, avoiding any potential spikes in prices accompanied by summer electricity demand driven by air conditioning usage. These 6 and 12-month fixed plans are only about a penny per kilowatt-hour higher than the current variable rates, and are a wise pick for customers looking for budget certainty, while still offering substantial savings, as fixed rates are as low as they have ever been in Texas.
One drawback of the fixed rate contracts is that, like a cell phone contract, they carry an early termination fee for canceling the plan before its end date. While all the electric companies on SaveOnEnergy.com are vetted to ensure that they provide a great customer experience, customers shopping for the first time may want to test the waters before locking-in a contract with a new energy supplier for 12 months or longer. In that case, SaveOnEnergy.com offers month-to-month plans that do not include any cancellation fee, giving customers the freedom to pick a new energy supplier if they want to try someone else or if prices go down and they want to save even more money. Right now, these variable plans are the lowest rates in the Texas electric market, and are in the 8 cent range for most of Texas. These variable rate plans offer the maxim savings now, but may rise in future months, especially in the summer as demand increases. Still, these variable rates have been relatively stable in the past 18 months, and there is no indication that this summer should see variable rates go haywire, though nothing is guaranteed.
SaveOnEnergy.com also offers a product similar to the variable rate known as an "indexed' product. Like the variable rate, this product's price changes monthly, but it only changes based on a known formula, like the price of natural gas, a major fuel source for electric power generation in Texas.
For customers satisfied with today's low rates, SaveOnEnergy.com offers the opportunity to lock in rates for even longer periods of time, like two years, and even up to five years. These longer-term fixed rates cost a little bit more than 12-month rates, but are still reasonable, especially compared to prices just two years ago. A 24-month fixed rate is in the 10 cent range for much of the state, a price that is one-third lower than the lowest priced rate from the middle of 2008. The 24-month rate carries a small premium, but offers guaranteed price certainty and a historically low rate in the face of future unknown prices. The five-year fixed price carries a larger premium because it goes so far out into the future. However, it's still in the 12 cent range, which is again a rate that would've been considered a steal 24 months ago. Customers expecting a rise in prices in the long-term, due to economic recovery and inflation, may find that the five-year fixed rate is the best deal.
Aside from all the different contract lengths, SaveOnEnergy.com also offers a range of green electric products at a small premium, so you can help the environment while still saving money on your electric bill every month.